Royal LePage released it’s House Price Survey yesterday. Its highlights are:
National aggregate home price increased 4.3% year over year in Q4 2023; decreased 1.7% quarter over quarter
Aggregate home price in greater regions of Toronto, Montreal and Vancouver posted gains of 5.1%, 4.1% and 2.7% year over year, respectively, in final quarter of 2023
Among report’s major regions, Calgary recorded highest year over year price appreciation (10.7%); only major region to post quarterly price gains in Q4 2023 (1.5% over Q3)
81% of regional markets posted a quarter-over-quarter decline
Approximately 2.2 million mortgages in Canada will be renewing over the next two years, most at a much higher interest rate
National aggregate home price expected to rise 5.5% year over year in Q4 of 2024
The Ottawa Business Journal using the latest news release from the Ottawa Real Estate Board, as well as the Royal LePage forecast and a statement by Ken Dekker of Re/Max forecasts that confidence is returning to the Ottawa Real Estate market.
Economists are forecasting a turning point for the real estate market this year. Not a drastic turn but a gradual shift. Always be careful when reading statistics for Ontario – the Toronto market can really change the figures. Details on the Ottawa Business Journal.