Royal LePage National Home Price Survey

RoyalAccording to the Royal LePage House Price survey and Market Survey Forecast, the price of a home in Canada increased by 6.8% year-over-year to $673,072 in the second quarter. Demand surged in many markets once provinces allowed regular real estate activity to resume. Royal LePage has revised its Canadian home price forecast with the national aggregate price expected to end 2020 up 2.3% to $663,000 in the fourth quarter compared to the same period in 2019.

“Buyers have returned more quickly to the market than sellers resulting in fewer listings, increased competition and double-digit price gains over last year,” said Jason Ralph, managing partner, Royal LePage Team Realty. “The good news is that the number of listings is starting to grow and buyers can expect to have more selection in the second half of the year. However, Ottawa is expected to remain a seller’s market.”

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