As the Bank of Canada raises interest rates to dampen inflation, the country’s average home price could fall 15 percent by December 2023, says a new real estate outlook report.
Canada’s average home price rose by 50 percent over the past two years, from nearly $530,000 at the end of 2019 to just over $790,000 at its peak in February 2022, notes the French-language report, published on June 8 by Desjardins, a Canadian financial services cooperation.
