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HomeCANADACanadian home prices rise 1.9% in Q2 2024 despite 5.9% drop in...

Canadian home prices rise 1.9% in Q2 2024 despite 5.9% drop in national sales, reports Royal LePage

According to the Royal LePage House Price Survey released today, the overall price of homes in Canada went up by 1.9% compared to last year, reaching $824,300 in the second quarter of 2024. From the previous quarter, the national home price also increased by 1.5%, even though there was a slowdown in activity in the country’s most expensive markets.

Phil Soper, president and CEO of Royal LePage, commented on the current state of the housing market, saying, “Canada’s housing market is having trouble finding a steady pace, as shown by the last three months. While home prices across the country went up, the number of homes bought and sold went down, which is unusual. The positive side is that many areas have seen a significant increase in available homes. This is the closest we’ve been to having a balanced market in several years.”

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