MACKEY & McCORMICK - Facts & Figures September 2024

Real Estate Rebound: Canada's sluggish housing markets in recovery mode following third straight interest rate cuts

Further rate decreases expected to set the stage for an early spring market

Key highlights from the national release include:

The national aggregate home price rose a modest 1.6% year over year in Q3 2024, and decreased 1.1% over Q2.
Greater Montreal’s aggregate home price increased 5.2% year over year, while the greater Toronto and Vancouver markets showed little change, rising 0.7% and 0.5%, respectively.
For the second consecutive quarter, Quebec City recorded the highest year-over-year aggregate price increase (10.5%) in Q3 among the report’s major regions.
Major markets in the prairie provinces continue to show resilience and strength, as tight supply pushed prices upward in Q3.
Royal LePage expects home prices to remain stable through Q4; forecasts pull-ahead of spring market on expectation of continued easing of lending rates.

Read the full report here.

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