2020 Royal LePage Market Survey Forecast
The 2020 Royal LePage Market Survey Forecast was released yesterday. The survey includes predictions for all house types, and individual forecasts for condominiums and two-storey detached houses in major regions across Canada.
Key highlights from the national release include:
- The aggregate price of a home in Canada is forecast to rise 3.2 per cent year-over-year to $669,800 in 2020
- Canadian house and condo prices are expected to increase at similar rates in the new year. The recent decline in high price appreciation in the condominium segment reflects a shift in millennial demand towards houses and is expected to reinvigorate sales activity in the suburbs
- Low supply in the Greater Toronto Area expected to fuel home price growth in 2020
- Greater Montreal Area forecast to see highest appreciation rate in 2020 among cities surveyed
- Greater Vancouver house prices forecast to stabilize in 2020
- Ottawa's aggregate home price forecast to cross half million dollar mark in 2020
To read the entire forecast click the link below.