Royal LePage is forecasting that the aggregate price of a home in Canada will increase 9.0 per cent in the fourth quarter of 2024, compared to the same period last year. Based on stronger-than-expected first quarter results, the previous forecast has been upgraded nationally and in most major markets.
According to the Royal LePage House Price Survey released April 12, the aggregate price of a home in Canada increased 4.3 per cent year over year to $812,100 in the first quarter of 2024. On a quarter-over quarter basis, the national aggregate home price increased 2.9 per cent, an indication that sidelined buyers are rebooting their real estate purchase plans ahead of expected interest rate cuts, as predicted in January.
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