2023 Royal LePage Market Survey Forecast

2023 Royal LePage Market Survey Forecast
As there are so many questions about the market right now I thought this report would be helpful.  My company is recognized as a leader in Canada, " The voice of Canadian Real Estate".  This report provides the big picture and breaks it down for individual regions. I completely agree with the comments regarding the Greater Vancouver Market.  In general this is what I am seeing but am happy to discuss and narrow it down further to your neighbourhood.
As always I am on top of this market and look forward to hearing from you anytime.
Looking forward to better market conditions in 2023.
Take care,
2023 National Aggregate Home Price Forecast to End Year 1.0% Below Fourth Quarter of 2022: Royal LePage

Since the Bank of Canada began raising interest rates aggressively in March of this year, home prices in many major markets across Canada have been decreasing. The rate of decline, however, has been modest. According to the Royal LePage Market Survey Forecast, the aggregate[1] price of a home in Canada is set to decrease 1.0 per cent year-over-year to $765,171 in the fourth quarter of 2023, with the median price of a single-family detached property and condominium projected to decrease 2.0 per cent and increase 1.0 per cent to $781,256 and $568,933, respectively.


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