The spring market is off to a healthy start. Buyer activity picked up earlier than was anticipated in the first quarter of 2023, pushing home prices up over the final quarter of last year. As a result, home prices in Canada are expected to continue climbing, albeit at a much slower rate than the last two years.
Royal LePage is forecasting that the aggregate price of a home in Canada will increase 4.5% in the fourth quarter of 2023, compared to the same quarter last year. The previous forecast was revised upward to reflect an earlier-than-expected boost in activity in Canada’s major housing markets.
Following activity levels in the first quarter of 2023 that surpassed the Company’s expectations – a vigorous return of buyer demand coupled with ultra-low housing supply conditions – Royal LePage has adjusted its quarterly forecast for the remainder of the year. On a quarter-over-quarter basis, the national aggregate home price is expected to continue rising modestly but steadily over the next nine months.
Read the full report here.
Single Family in Milton (1033 Ha Harrison)
Royal LePage Real Estate Services Ltd., Brokerage (W11949268)
Single Family in Milton (walker)
Royal LePage Real Estate Services Ltd., Brokerage (W11965751)
Single Family in Oakville (1001 Br Bronte)
Royal LePage Real Estate Services Ltd., Brokerage (W11971215)
Single Family in Oakville (bronte West)
Royal LePage Real Estate Services Ltd., Brokerage (W11908093)
Royal LePage Real Estate Services
326 Lakeshore Road East Oakville, Ontario L6J 1J6