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Royal LePage: Canadian home prices forecast to rise 5.5% by the end of 2021 as low inventory and unmet demand set to fuel price increases
Royal LePage: Canadian home prices forecast to rise 5.5% by the end of 2021 as low invent...
About this update from Bridgemarq Real Estate Services, Inc.
[{"type":"text","content":"\n \n \n \n Royal LePage: Canadian home prices forecast to rise 5.5% by the end of 2021 as low inventory and unmet demand set to fuel price increases\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.prngen3{\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.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n \n \n \n \n \n \n Aggregate price of a home in the\n \n Greater Toronto Area\n \n forecast to rise 5.75%\n \n \n Tech and government sector expansion to drive\n \n Ottawa\n \n prices up 11.5%\n \n \n \n Canada's\n \n priciest city to experience 9.0% rise as housing demand in\n \n Vancouver\n \n surges\n \n \n \n Halifax\n \n and\n \n Greater Montreal\n \n prices forecast to rise 7.5% and 6.0%, respectively\n \n \n \n Calgary\n \n ,\n \n Edmonton\n \n prices buck regional economic drag, to show modest price growth\n \n \n \n \n TORONTO\n \n ,\n \n Dec. 14, 2020\n \n /CNW/ - Housing demand exceeded expectations in the second half of 2020. The supply of homes available for sale failed to keep pace, driving home prices higher and pushing unmet buyer demand into the new year. 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 5.5 per cent year-over-year to\n \n $746,100\n \n in 2021, with the median price of a two-storey detached house and condominium projected to increase 6.0 per cent and 2.25 per cent to\n \n $890,100\n \n and\n \n $522,700\n \n , respectively.\n \n \n 2\n \n \n \n \n \"The leading indicators we analyze are pointing to a market that favours property sellers in the all-important spring of 2021,\" said\n \n Phil Soper\n \n , president and CEO,\n \n Royal LePage\n \n . \"Across the country, a large num...