According to the third-quarter housing price survey released by Royal LePage on October 15, the Canadian autumn housing market remained in a wait-and-see mode.
- The national composite housing price fell by 0.81 TP3T from the previous year to $810,000, and by 0.61 TP3T from the previous quarter.
- The Greater Toronto Area (GTA) recorded $1,073,100, down 3.71 TP3T, and the Greater Vancouver Area recorded $1,148,100, down 4.01 TP3T.
- On the other hand, the Montreal metropolitan area saw a significant regional difference, rising 2.91 TP3T to $653,700.
- Royal LePage lowered its fourth-quarter national price outlook to an annual increase of 1.01 TP3T, explaining that trade tensions and concerns over interest rate hikes are delaying buyers' decisions.
If you are planning to buy or sell a home, please check recent transactions and mortgage renewal conditions in the area you are interested in, as price trends vary significantly by region.
Source: Canadian Mortgage Professional
https://www.mpamag.com/ca/mortgage-industry/market-updates/royal-lepage-trade-tensions-stall-canadas-fall-housing-market/593699 |
