Average Home Price to End the Year 4.8% Lower Than 2022, Will Rise 4.7% in 2024: CREA

Average Home Price to End the Year 4.8% Lower Than 2022, Will Rise 4.7% in 2024: CREA
A new home is shown for sale in a housing development in Ottawa on July 14, 2020. The Canadian Press/Sean Kilpatrick
The Canadian Press
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The Canadian Real Estate Association expects the average price of a home to end the year 4.8 per cent lower than 2022, but says prices will rise by roughly the same amount in 2024.

The association’s prediction revealed Friday amounts to an average price of $670,389 this year and $702,214 next year, when prices are expected to increase by 4.7 per cent.