Home price growth across Canada is expected to remain sluggish in 2024, while the country’s largest housing market—Toronto—is expected to see prices fall, according to a new forecast released today by Re/Max.
Despite detached home prices in Toronto and Vancouver posting year-over-year declines in the first half of the year, a longer-term view shows prices are still elevated, and in many cases higher compared to two or three years ago.
After a year of rapidly rising interest rates and falling home prices, 2023 should see more balanced conditions return to most housing markets across the country.
