Royal LePage is lowering its expectations for home prices in Canada and now says prices in the fourth quarter are expected to be down compared with the same quarter last year, erasing the gains made at the start of 2022.
Royal LePage is lowering its expectations for home prices in Canada and now says prices in the fourth quarter are expected to be down compared with the same quarter last year, erasing the gains made at the start of 2022.
That's down from a July forecast that predicted prices in the fourth quarter to be up 5.0 per cent on a year-over-year basis. Royal LePage says the national aggregate home price in the third quarter was up 3.3 per cent year-over-year at $774,900, however it was down 4.9 per cent on a quarter-over-quarter basis.
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