Real Estate News

RBC Revises Forecast Expects Housing Prices to Flatten in Second Half of Next Year

The aggregate price of a Canadian home increased by 1.7% on a monthly basis to $750,400 last month — housing prices surged by 21.5% from September 2020 — as new listings dipped by 1.6% from a month earlier and by 19.6% year-over-year. Resales in Ontario rose by 0.9% month-over-month, with Barrie, Cambridge and Windsor recording increases of 11%, 10% and 8%, respectively. In Quebec, Trois-Rivieres saw resales grow by 11% from a month earlier, followed by Gatineau at 10%. Although resales in the Greater Toronto and Montreal areas increased on a monthly basis in September, smaller markets comprised the lion’s share of activity in each province.

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