What happened
Royal LePage has raised its national home price forecast for the year, citing demand that continues to outrun supply in certain regions, according to Canadian Mortgage Trends.
Put this beside CREA's downgraded sales forecast and you get the real picture: Canada isn't one housing market. Sales volumes can soften nationally while prices firm up in supply-tight cities. For the GTA specifically, chronic under-supply keeps a floor under prices even in slower years.
“demand continues to outpace supply in some regions” — Royal LePage bumps up home price forecast for this year as momentum builds, Canadian Mortgage Trends
The EverLend take
Conflicting headlines are exactly why generic national advice falls short. What matters is your street, your segment, and your budget — and a pre-approval that tells you precisely what you can act on when the right home shows up.
Source & further reading: Royal LePage bumps up home price forecast for this year as momentum builds on Canadian Mortgage Trends.
Wondering what this means for your own mortgage? Talk to an EverLend agent — no cost, no pressure.