Desjardins is forecasting the average home price in Canada will decline by nearly 25 per cent by the end of 2023 from the peak reached in February of this year.
Desjardins says the worsened outlook stems from both weaker housing data and more aggressive monetary policy than previously anticipated. The report also notes housing prices have dropped by more than four per cent in each of the three months that followed February, when the national average home price hit a record $816,720.
Regionally, the report says the largest price corrections are most likely to occur in New Brunswick, Nova Scotia and Prince Edward Island, where prices skyrocketed during the pandemic.
TorMrktBubble Such non sense… I sold in Jan for 1.500.000 and just bought literally the same home for 1.100.000 2 days ago… 25-30% discount already. Are they saying from peak or from this moment onward? Lol, authors of confusion
Its downplay of the effect ,now trend shows 4.2% monthly aggregate to 40% GTA and Vancouver
Already down 25%. Trying not to scare people are you?
TorMrktBubble That’s it?
Up 100%, down 25%. What’s to worry about?
I’m already seeing 25% discounts on select properties in greater vancouver.
That forecast means that many housing markets around the GTA will increase. Many are already 30+% lower between Feb-July
That's why Shambhavi Anand deliberately broke 🇮🇳abortion law(20wks) TWICE (6 & 7mnths-A Criminal Offense) aborted 7mnths alive girl then fled 2🇨🇦 BrockUniversity GoodmanSchool 2 b 'Future Business Leader' business BloombergCA BW TGranicAllen cdnpoli
Lol, Desjardins seeking attention again.
Skeptical it will drop that much. If it does, it will be short-lived. Supply and demand ultimately rules. And we know how dire the supply side remains.
When they say 25% they mean 35%. They don't want to spook us as we are already horrified home owners.
Canadian Banks would appear to be in a tight spot.
Even if it corrects 50% it is still way overpriced. Never seen a nonsense real estate market like this one.