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Canadian home prices expected ↑ 20% by end of the year

Vancouver, Toronto, Calgary
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Canadian home prices are projected to ↑ 20% by the end of December (CREA). As home sales across the country ↓ 0.5% MoM in August, prices continued to rise; avg Canadian home price ↑ $663,500. Although the number of home sales ↓ 14% YoY, the avg selling price ↑ 13.3%. Excluding the two heavily influential markets, Greater Vancouver and the GTA, from the calculation in August, cut over $130K from the national avg price. (CREA) CREA predicts ↑ 19.9% in home prices on an annual basis, leading to ↑ $680K in avg selling price. It’s all about supply-demand, ↓ 12.1% in sales and ↑ 5.6% in prices to ↑ $718K in the national avg is predicted for 2022.

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Canada, Ottawa