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2023 national aggregate home price forecast to end year 1.0% below fourth quarter of 2022: Royal LePage
2023 national aggregate home price forecast to end year 1.0% below fourth quarter of 2022: Royal ...
About this update from Bridgemarq Real Estate Services, Inc.
[{"type":"text","content":"\n \n \n \n 2023 national aggregate home price forecast to end year 1.0% below fourth quarter of 2022: Royal LePage\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n First quarter expected to show double-digit year-over-year declines, with modest quarterly price growth in the second half of next year\n \n \n \n \n \n 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\n \n \n Condominium prices expected to outperform single-family homes in all major markets except\n \n Edmonton\n \n and\n \n Winnipeg\n \n \n \n Greater regions of\n \n Toronto\n \n and\n \n Montreal\n \n forecast to see Q4 2023 aggregate price decline of 2.0% year-over-year\n \n \n Q4 2023 aggregate home price in\n \n Greater Vancouver\n \n projected to dip 1.0% year-over-year\n \n \n Despite declining affordability, heightened by rising interest rates, continued housing supply shortage acts as a floor on home price declines\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 13, 2022\n \n \n /CNW/ - Since the Bank of\n \n Canada\n \n began raising interest rates aggressively in March of this year, home prices in many major markets across\n \n Canada\n \n have been decreasing. The rate of decline, however, has been modest. According to the Royal LePage Market Survey Forecast, the aggregate\n \n \n 1\n \n \n price of a home in\n \n Canada\n \n is set to decrease 1.0 per cent year-over-year to\n \n $765,171\n \n in the fourth quarter of 2023, with the median price ...