Canada Mortgage and Housing Corp. says the average annual home price could reach $782,400 at the high end this year and $740,700 at the lower end
Canada’s housing agency is forecasting home prices will moderate this year, as it becomes more expensive to borrow and buyers get priced out of the market.
Canada Mortgage and Housing Corp. said the annual average home price could reach $782,400 at the high end this year, or $740,700 at the lower end. That would be an increase of 13.7 per cent or 7 per cent over 2021′s average of $687,910, according to a new forecast for 2022 released on Thursday. But given that the national average was $796,000 in March, that means home prices will likely dip sometime this year.
Related: Real estate sector gears up to battle Liberal government’s proposal to ban ‘blind bidding’ for houses In CMHC’s outlook, the agency’s chief economist Bob Dugan said “We expect the growth in prices, sales levels and housing starts to moderate from recent highs, but remain elevated in 2022.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada launches Aeroplan fund to bring Ukrainians to Canada | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Read more »
Canada launches Aeroplan fund to bring Ukrainians to CanadaCanadians can now give cash or Aeroplan points to help bring Ukrainians fleeing the war with Russia to safety in Canada.
Read more »
Uber Canada drops mask requirement for drivers and riders as of April 22Uber Canada says face masks will no longer be required for drivers and passengers as of Friday April 22. This change in policy does not apply to Quebec.
Read more »
Construction closes Trans-Canada Highway east of Golden for a monthThe closure is part of a project to widen and realign the highway.
Read more »
Canada to send heavy artillery weapons to Ukraine, Justin Trudeau pledgesThe Prime Minister’s announcement came hours after he, U.S. President Joe Biden and other allied leaders discussed imposing further economic pain on Russia and vowed to provide more weaponry and aid to Ukraine
Read more »
High-quality dog subscription boxes to order in Canada 2022Shopping Essentials: High-quality dog subscription boxes to order in Canada 2022
Read more »