Canada’s housing market will return to balance in 2023, real estate company forecasts
As 2023 approaches, real estate company Re/Max Canada predicts a return to a more balanced housing market after a few years of instability.
Brett Chang, co-host of The Peak Daily, reminds audiences that a “balanced” housing market most likely refers to a return to 2019 prices after two years of steeply inflated prices. Partially affected by interest rates, Re/Max says the wildcard is what interest rates will do. (something seems missing or off about this last sentence?),
Even though steep declines are forecasted for the markets of Greater Vancouver, Kelowna, and Toronto, there are also predictions of price growth in Alberta and parts of Atlantic Canada.
Global News’ Anne Gaviola joins Chang to talk more about housing, Bank of Canada’s historic first loss and the decline of single-use plastic ahead of the year-end ban.
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