Canada real estate: Average home price to stay flat through rest of 2023, says Re/Max

“If the fall market is an early indicator for 2024 activity, we may see a very active first quarter as buyers and sellers take advantage of easing prices into the earlier part of next year.'

A new Re/Max housing market outlook report expected average home prices in Canada expected to remain flat for the rest of 2023.

The report said interest rates and inventory levels will likely result in a softer market for the remainder of the year, something some Canadians may look to take advantage of going into 2024, says Re/Max Canada president Christopher Alexander. “While we wait for governments to implement a tangible national housing strategy to boost Canada’s supply of both affordable and diverse housing, the market is starting to ease in some regions. This is bringing some much-needed relief from the sky-high prices we’ve experienced over the past couple of years.”

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