Just released: Royal LePage’s Q1 2021 House Price Update
and Market Forecast
The Royal LePage House Price Update and Market Forecast was distributed to the media early this morning. The release, distributed each quarter, includes price data and insights from experts across the country, as well as national and regional forecasts. The report presents home price trends across 64 real estate markets in Canada.
Key highlights from the national release include:
- Canadian home prices forecast to end the year 13.5% higher than 2020.
- Aggregate price of a home in Canada rose 14.1% year-over-year in the first quarter of the year.
- Addressing chronically low inventory is critical in solving the nation’s housing affordability crisis.
- 67% of the 64 markets surveyed posted double digit year-over-year aggregate home price gains.
- Montreal’s aggregate home price forecast to increase 16% year-over-year; the highest in Canada among forecasted regions.
A big thank you to all of our spokespeople across the country who provided regional perspectives.