Home Prices to Rise up to 6 Percent This Fall, Re/Max Predicts

Housing prices are forecast to increase by about 6 percent, according to a new report from Re/Max. The Canadian Housing Market Outlook says that the housing market is expected to be steady into the fall and prices will increase in various markets by 1 to 6 percent by the end of 2024. However, there are some cities where housing prices are expected to remain flat or even decline, including Toronto, Hamilton, Burlington, Kitchener-Waterloo, Charlottetown, North Bay, and London, according to the report’s authors. Re/Max brokers say they expect 33 percent of housing markets in Canada to be sellers’ markets. They said this may change as competition increases and market conditions evolve....