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Royal LePage forecasts cooling of housing market in 2022

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Home prices increased by 25 per cent year-over-year last spring, creating bidding wars in cottage country and major urban centres. However, one of Canada’s largest real estate firms is predicting a cool-down in the housing market.

Royal LePage estimates home prices will only climb 16 per cent in the fourth quarter of 2021, pushing the average home price nationally to $771,000, before cooling further in 2022.

But experts say a structural housing shortage will keep home prices high even as the market cools. Anne Gaviola reports.

Home prices increased by 25 per cent year-over-year last spring, creating bidding wars in cottage country and major urban centres. However, one of Canada’s largest real estate firms is predicting a cool-down in the housing market. Anne Gaviola reports.

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Category
U.S. & Canada
Tags
global news, Canada housing market, housing prices
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