[Read more…]

Royal Lepage has just released its market survey forecast for 2023. Highlights thereof:

• 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

Regional details for the following areas can be found below the main article:

• Greater Toronto Area
• Greater Montreal Area
• Greater Vancouver
• Ottawa
• Calgary
• Edmonton
• Halifax
• Winnipeg
• Regina

Details here.

The Canadian Real Estate Association has recently announced a 3.3 per cent sales decline month-over-month in November. Compared with a year ago, actual home sales in November were down 38.9 per cent compared with November 2021. Details here.

Royal LePage recently released its Winter Recreational Property Report.

The resale price of single-family detached homes in Canada’s most popular regions seemed unaffected by the rising interest rates and what was happening in the residential resale market. It is forecast that this will all change in 2023.

The report which provides a summary of Canada also provides details of the following areas:

• Quebec
• Mont-Tremblant
• Mont Saint-Sauveur
• Val Saint-Côme and Mont Garceau
• Bromont, Sutton
• Stoneham/Lac-Beauport
• Mont-Sainte-Anne

• Ontario
• Southern Georgian Bay

• Alberta
• Canmore

• British Columbia
• Whistler
• Invermere
• Revelstoke
• Mount Washington/Comox Valley
• Sun Peaks
• Big White

CBC.ca, CityNewsEverywhere, and the Sun comment on the latest news release from the Ottawa Real Estate Board (OREB).

[Read more…]

[Read more…]