Discover the latest trends shaping Canada’s housing market with our Q2 2024 House Price Survey. Here’s what you need to know.

Q2 2024 Key Highlights:

• National Trends: The aggregate home price in Canada rose by 1.9% year-over-year, reaching $824,300. Quarterly, prices climbed by 1.5%, despite slower activity in major markets like Toronto and Vancouver.

• Regional Insights: While Toronto and Vancouver experienced subdued market activity, prairie provinces and Quebec saw demand continue to outstrip supply.

• Quebec City Soars: Quebec City recorded the highest year-over-year price increase at 10.4% among major regions.

• Future Outlook: Royal LePage® forecasts a 9.0% increase in home prices by Q4 2024, maintaining steady growth momentum.
  
  Market Analysis: The survey highlights a nuanced market landscape where national price increases contrast with varied regional performances. Despite interest rate cuts aimed at boosting buyer confidence, the impact has been tempered, with consumers cautiously navigating economic uncertainties.

  Regional Summaries:

  • Greater Vancouver: Prices increased by 3.9% year-over-year, with continued market stability despite lower activity levels compared to historical norms.

  Explore detailed insights into Canada’s evolving housing market, the impact of economic policies, and projections for the remainder of 2024. For more detailed findings and expert analysis, read the full report [here].