Key highlights from the national release include:
- The price of a home in Canada increased 2.2 % year-over-year to $625,499 in the third quarter of 2018 and is forecasted to make a 1.5% price gain in the fourth quarter
- Year-over-year home prices made modest gains in many regions across Canada in the third quarter of 2018, largely influenced by price appreciation in Greater Vancouver. During the same period, property in the Greater Toronto Area experienced continued year-over-year price declines, with modest gains in value when compared to the previous quarter.
- The United States-Mexico-Canada Agreement (USMCA) is expected to increase demand as many Canadians regain confidence in job market and consider large purchases
- Greater Montreal Area witnesses highest year-over-year appreciation rate among Canada's three largest metropolitan areas, posting a healthy 5.4% price increase in the third quarter
- Greater Toronto Area (GTA) recovers from housing correction on a quarter-over-quarter basis while nearly all suburban regions studied post year-over-year price declines.
READ FULL REPORT HERE: Q3 2018 Royal LePage House Price Survey and Market Forecast Survey
tags: royal lepage house price survey, canadian real estate, q3 2018