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December 19, 2024
The Canadian housing market is expected to stabilize in 2025, with declining interest rates and new lending rules bringing buyers back. Royal LePage forecasts a 6% rise in the average home price, reaching $856,692 by Q4 2025. Single-family detached homes are predicted to see a 7% price increase, while condo prices are expected to grow by 3.5%. The backlog of buyers and upcoming mortgage rule changes are expected to boost Canadians’ borrowing power. Optimism is also fueled by the Bank of Canada’s recent policy shift, which has already led to increased market activity.
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