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Homebuyers remain determined while sellers step back in response to additional interest rate hikes: Royal LePage
Homebuyers remain determined while sellers step back in response to additional interest rate hike...
About this update from Bridgemarq Real Estate Services, Inc.
[{"type":"text","content":"\n \n \n \n Homebuyers remain determined while sellers step back in response to additional interest rate hikes: 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 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Home prices expected to hold steady through remainder of 2023, despite anticipated drop in activity following second consecutive increase to BoC's overnight lending rate\n \n \n \n \n \n Second quarter highlights:\n \n \n \n \n National aggregate home price remained almost flat year-over-year in Q2 2023 (-0.7% over Q2 2022) and increased 4.0% quarter-over-quarter (second consecutive quarterly increase)\n \n \n Aggregate price of a home in\n \n Canada\n \n in Q2 2023 sits just 5.6% below the peak reached in Q1 of last year\n \n \n 94% of regions in the report posted quarterly aggregate home price appreciation\n \n \n National year-end forecast updated. Prices in Q4 2023 now expected to rise 8.5% over final quarter of 2022; essentially flat over the next six months\n \n \n Chronic shortage of housing supply, due in part to sellers' hesitancy to list, continues to put upward pressure on home prices\n \n \n \n Royal LePage\n \n urges officials to quickly increase support for more development, including affordable, purpose-built rental buildings\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n July 13, 2023\n \n \n /CNW/ - According to the Royal LePage House Price Survey released today, the aggregate\n \n \n 1\n \n \n price of a home in\n \n Canada\n \n decreased modestly by 0.7 per cent year-over-year to\n \n $809,200\n \n in the second quarter of 2023, indicating that nationally, the real estate market is close to the point where it will have recovered fully from 2022's post-pandemic market correction. On a quarter-over...