The home prices to go down in Canada during 2023, according to a report from Re-Max. The report indicated fall of prices in the most up market areas of the country. The prices are likely to come down by at least 3.3 per cent. Tardy growth of housing sector, increased rates of interest are likely to fuel the slowdown of the housing sector.
The prices of at least 15 percent of the homes in Greater Toronto and Greater Vancouver likely to register fall in prices. In Quebec, the prices are likely to come down by 10 percent, while the GVA likely to register 5 per cent dip in the prices. Homes in the Atlantic Canada are going to increase prices. The increase in Halifax would be at least 8%. Similarly, the prices of houses is likely to increase by 7% in Calgary in 2023.
