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Royal LePage: Canada's national aggregate home price forecast to rise 10.5% by the end of 2022
Royal LePage: Canada's national aggregate home price forecast to rise 10.5% by the end of...
About this update from Bridgemarq Real Estate Services, Inc.
[{"type":"text","content":"\n \n \n \n Royal LePage: Canada's national aggregate home price forecast to rise 10.5% by the end of 2022\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{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Omicron variant emergence may extend period of unusually strong real estate markets\n \n \n \n \n \n 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\n \n \n Greater regions of\n \n Toronto\n \n and\n \n Vancouver\n \n forecast to see highest aggregate price appreciation at 11.0% and 10.5%, respectively\n \n \n Detached home prices in\n \n Halifax\n \n expected to rise 10.5%, followed by the\n \n Greater Montreal Area\n \n and\n \n Ottawa\n \n (9.0%)\n \n \n Housing markets are expected to be unusually active through the winter season\n \n \n \n \n TORONTO\n \n ,\n \n Dec. 15, 2021\n \n /CNW/ - Following more than a year of record price appreciation across the country, Canadian home values are expected to rise strongly again in 2022, however at a slower pace compared to 2021. Pent-up demand from buyers who were unable to transact in 2021, coupled with the growing need for shelter from new household formation and newcomers to\n \n Canada\n \n , will continue to put upward price pressure on a market suffering from a chronic supply shortage. 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 rise 10.5 per cent year-over-year to\n \n $859,700\n \n in 2022, with the median price of a single-family detached property and condominium projected to increase 11.0 per cent and 8.0 per cent to\n \n $918,000\n \n and\n \n $594,000\n \n , respectively...