July 25, 2011
Projected Average Price Increase of 7.7% in 2011
Did you know Canada’s residential real estate market saw sizable price increases in the second quarter of 2011? However, growth in house prices is expected to slow for the balance of the year. According to the latest Royal LePage House Price Survey and Market Survey Forecast, the national average house price is expected to be 7.7% higher by the end of 2011 than it was at the end of 2010. Phil Soper, President of Royal LePage said, “We expect price gains to moderate considerably in the latter half of 2011, which should reduce the stress associated with purchasing a new home. Looking ahead to 2012, signs are pointing to stability for Canadian homeowners and new buyers.”
