Housing Market Moderates in May, but Prices Forecast to Rise 19.3% this Year
Home sales and prices continued to moderate in May, easing from March’s peak. But with ongoing tight supply and high demand, prices are expected to remain elevated through the year.
That’s according to the Canadian Real Estate Association (CREA), which released its updated outlook for average prices to post a 19.3% annualized gain to $677,775. That’s expected to be followed by a much more moderate 0.6% annual price gain in 2022.
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: June 15, 2021
Link to Original Article:https://www.canadianmortgagetrends.com/2021/06/housing-market-moderates-in-may-but-prices-forecast-to-rise-19-3-this-year/