A Canadian realty firm is predicting home prices to jump by nearly 10 per cent by the end of the year.
On Friday, Royal LePage released an updated forecast predicting that aggregate Canadian home prices will rise nine per cent in the fourth quarter, compared with the end of 2023.
The report blames two factors for pushing prices higher: the “severe shortage” of housing across the country, and more demand from sidelined homebuyers who could enter the market if Bank of Canada lowers its key interest rate.
Meanwhile, the latest data from the Canadian Real Estate Association (CREA) shows prices did edge up 0.5 per cent in March.
Nathaniel Dove looks at the numbers and explains what Ottawa could do to help.
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