2024 Market Survey Forecast

Key highlights from the 2024 Market Survey Forecast:

• The aggregate price of a home in Canada is forecast to increase 5.5% year over year in Q4 of 2024
• Nationally, single-family detached and condominium prices forecasted to increase 6.0% and 5.0%, respectively
• Home prices are expected to show greatest increases in second half of 2024
• Calgary aggregate home price projected to see greatest gains of all major markets at 8.0%
• Aggregate price of a home in the greater regions of Toronto and Montreal are forecast to end next year 6.0% and 5.0% respectively above the final quarter of 2023, while Greater Vancouver is expected to see a more modest increase of 3.0%
• Royal LePage forecast based on expectation that Bank of Canada will hold rates steady through first half of next year, and begin modestly easing rates in late summer or fall