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TORONTO — Royal LePage is cutting its expectations for the growth in home prices this year after it says prices in the second quarter fell compared with the first three months of the year.
The forecast is down from an April estimate for a 15.0 per cent year-over-year increase for the fourth quarter. In its house price survey, Royal LePage says the aggregate price of a home in Canada in the second quarter was $815,000, up 12.1 per cent compared with a year ago. However, it was down 4.9 per cent compared with its record high in the first quarter of this year.
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