The Royal LePage 2022 Market Survey Forecast was distributed last week. The release includes insights from experts across the country and year-over-year price expectations for Canada’s nine largest markets.
Key highlights from the national release include:
- Canada’s national aggregate home price forecast to rise 10.5% by the end of 2022.
- Omicron variant emergence may extend period of unusually strong real estate markets.
- The GTA is the only region where condominium price appreciation is forecast to outpace that of detached homes; prices expected to rise 12.0% year-over-year in 2022.
- Greater regions of Toronto and Vancouver forecast to see highest aggregate price appreciation at 11.0% and 10.5%, respectively.
- Detached home prices in Halifax expected to rise 10.5%, followed by the Greater Montreal Area and Ottawa (9.0%).
- Housing markets are expected to be unusually active through the winter season.
