2023 National Aggregate Home Prices Forecast to End Year 1.0% Below Fourth Quarter 2022

Key highlights from the release include:

  • On a quarter-over-quarter basis, prices expected to flatten in Q2 and begin modest improvement in second half of the year, ending 2023 on upward trajectory; release includes national aggregate quarterly forecast for 2023
  • Condominium prices expected to outperform single-family homes in all major markets except Edmonton and Winnipeg
  • Greater regions of Toronto and Montreal forecast to see Q4 2023 aggregate price decline of 2.0% year-over-year
  • Q4 2023 aggregate home price in Greater Vancouver projected to dip 1.0% year-over-year
  • Despite declining affordability, heightened by rising interest rates, continued housing supply shortage acts as a floor on home price declines
Read the full article here

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