NEW: Royal LePage predicts Ottawa home prices to end 2022 up 0.5 per cent ottnews
Royal LePage is lowering its forecast for Ottawa's real estate market to end the year as interest rate hikes continue to cool the housing market.
The aggregate price of a new home will be $743,399 by the end of the year, according to the Royal LePage report. That is a $70,000 decline from the July outlook of $813,670. "We continue to see strong buyer demand in the region - even if lower than last year's historical highs - and not enough supply to fully shift to a balanced market."
"Although demand remains strong in parts of the region, buyers today are able to be more selective with their purchases and have the opportunity to place conditions in their offers," Ralph said. "Those who are in a position to buy feel the pressure to transact before lending rates rise any further."
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.
Royal LePage lowers home price expectations, forecasts year-over-year decline in Q4 - BNN BloombergRoyal 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.
Read more »
Royal LePage predicts GTA home prices will take another hit by end of yearIn July, Royal LePage said home prices were expected to hit $1.15 million. Now it’s $1.08 million — a drop of more than $72,000.
Read more »
Man found dead in Upper Mount Royal killed in Forest Lawn: policeInvestigators say a man who was found dead in Calgary’s Upper Mount Royal neighbourhood in July was killed in Forest Lawn.
Read more »
Man found dead in Upper Mount Royal killed in Forest Lawn: policeInvestigators say a man who was found dead in Calgary’s Upper Mount Royal neighbourhood in July was killed in Forest Lawn.
Read more »
Man found dead in Upper Mount Royal killed in Forest Lawn: policeInvestigators say a man who was found dead in Calgary’s Upper Mount Royal neighbourhood in July was killed in Forest Lawn.
Read more »
Police believe man found dead in Upper Mount Royal was murdered in Forest LawnHomicide investigators say there's reason to believe a 29-year-old man found dead in an alleyway in an affluent Calgary neighbourhood in the summer had been murdered elsewhere. yyc
Read more »