The Q3 2018 Royal LePage House Price Survey and Market Forecast Survey was released to media. Below you will find highlights from the release, links to social media assets available for you to share and select media coverage.
Key highlights from the national release include:
- The price of a home in Canada increased 2.2 % year-over-year to $625,499 in the third quarter of 2018 and is forecasted to make a 1.5% price gain in the fourth quarter
- Year-over-year home prices made modest gains in many regions across Canada in the third quarter of 2018, largely influenced by price appreciation in Greater Vancouver. During the same period, property in the Greater Toronto Area experienced continued year-over-year price declines, with modest gains in value when compared to the previous quarter.
- The United States-Mexico-Canada Agreement (USMCA) is expected to increase demand as many Canadians regain confidence in job market and consider large purchases
- Greater Montreal Area witnesses highest year-over-year appreciation rate among Canada’s three largest metropolitan areas, posting a healthy 5.4% price increase in the third quarter
- Greater Toronto Area (GTA) recovers from housing correction on a quarter-over-quarter basis while nearly all suburban regions studied post year-over-year price declines.
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If you’re interested in learning more about the current housing market in the Niagara region, we would be happy to have a chat with you and answer any questions you may have. Come in for a visit or give us a call! It would be our pleasure to show you how selling your home in the current market could increase your financial gain.