Housing prices in Canada to keep rising through 2022 as demand outpaces supply: report

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Housing prices across Canada are set to keep rising throughout 2022, a new report suggests, with not even the prospect of higher interest rates expected to slow the trend.

Royal LePage’s latest House Price Survey found the average price for a home in Canada increased 17.1 per cent year-over-year in the fourth quarter of 2021, hitting $779,000. In a majority of housing markets, prices increased by three per cent or more compared to the third quarter of last year, a trend the real estate firm says is not typical for a fourth quarter.

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Original Article Source Credits: Global News, https://globalnews.ca

Article Written By: Sean Boynton

Original Article Posted on: January 14, 2022

Link to Original Article: https://globalnews.ca/news/8510602/canada-housing-prices-2022-supply