Royal LePage forecasts cooling of housing market in 2022

Global News published this video item, entitled “Royal LePage forecasts cooling of housing market in 2022” – below is their description.

Home prices increased by 25 per cent year-over-year last spring, creating bidding wars in cottage country and major urban centres. However, one of Canada’s largest real estate firms is predicting a cool-down in the housing market.

Royal LePage estimates home prices will only climb 16 per cent in the fourth quarter of 2021, pushing the average home price nationally to $771,000, before cooling further in 2022.

But experts say a structural housing shortage will keep home prices high even as the market cools. Anne Gaviola reports.

Home prices increased by 25 per cent year-over-year last spring, creating bidding wars in cottage country and major urban centres. However, one of Canada’s largest real estate firms is predicting a cool-down in the housing market. Anne Gaviola reports.

For more info, please go to https://globalnews.ca/news/7710939/vacation-home-prices-canada/

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In This Story: Canada

Canada is a country in the northern part of North America. It extends from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98 million square kilometres (3.85 million square miles), making it the world’s second-largest country by total area.

Its southern and western border with the United States, stretching 8,891 kilometres (5,525 mi), is the world’s longest bi-national land border. Canada’s capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver.

Various Indigenous peoples inhabited what is now Canada for thousands of years before European colonization. The Canada Act 1982, which severed the vestiges of legal dependence on the British Parliament. Canada is a parliamentary democracy and a constitutional monarchy in the Westminster tradition, with a monarch and a prime minister who serves as the chair of the Cabinet and head of government.

As a highly developed country, Canada has the seventeenth-highest nominal per-capita income globally as well as the thirteenth-highest ranking in the Human Development Index. Its advanced economy is the tenth-largest in the world, relying chiefly upon its abundant natural resources and well-developed international trade networks.

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