TORONTO — A new report forecasts Canada's real estate market will be softer this fall with average home prices predicted to remain flat.
In its fall housing market outlook, Re/Max Canada says the forecast comes as the housing market deals with high interest rates and a lack of homes for sale.
According to an online survey, the report says 33 per cent of Canadians who are interested in buying and/or selling a home in the next 12 months will wait and see how interest rate changes play out before buying. Mortgage rates have risen sharply as the Bank of Canada has raised interest rates in an effort to bring inflation under control and back to its target of two per cent.
Bucking the overall trend, Re/Max says there are a few outliers where home prices are expected to increase, including larger markets such as the Greater Toronto Area, Calgary and Sudbury, Ont.The poll cannot be assigned a margin of error because online surveys are not considered truly random samples.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Woman shares video of shabby conditions onboard Air Canada flight to TorontoA passenger took to social media to share her experience flying Air Canada when she found that the conditions onboard were less than ideal. Kelly, ...
Read more »
Meet 14 Canadian writers who won Canada's biggest literary awards this yearWe're taking a look back at some of the award-winning Canadian writing of the past year.
Read more »
Five things to watch for in the Canadian business world in the coming weekTORONTO — Five things to watch for in the Canadian business world in the coming week: Home sales Home sales numbers from some of the country's largest cities are expected this week. The Real Estate Board of Greater Vancouver is expected to release August home sales figures on Tuesday, while the Toronto Regional Real Estate Board is set to release its numbers on Wednesday. Rate decision The Bank of Canada will announce its latest decision on interest rates on Wednesday followed by a speech by gov
Read more »
Five things to watch for in the Canadian business world in the coming weekTORONTO — Five things to watch for in the Canadian business world in the coming week: Home sales Home sales numbers from some of the country's largest cities are expected this week. The Real Estate Board of Greater Vancouver is expected to release August home sales figures on Tuesday, while the Toronto Regional Real Estate Board is set to release its numbers on Wednesday. Rate decision The Bank of Canada will announce its latest decision on interest rates on Wednesday followed by a speech by gov
Read more »
Rautins and Shepherd explain why this is the greatest win in Canadian basketball historyFormer Canadian head coach and player Leo Rautins and former player Jevohn Shepherd join SportsCentre to discuss where Canada's comeback win over Spain ranks among the best in Canadian basketball history. They also break down what Canada needs to do between now and the 2024 Paris Olympics to be a medal contender.
Read more »
Canada real estate: Average home price to stay flat through rest of 2023, says Re/Max“If the fall market is an early indicator for 2024 activity, we may see a very active first quarter as buyers and sellers take advantage of easing prices into the earlier part of next year.'
Read more »