Royal LePage lowers Toronto-area home price forecast due to ‘soft’ fall market
One of the GTA’s leading real estate companies has lowered its year-end forecast for Toronto-area home prices to reflect the “soft” fall market.
Royal LePage said it now expects the aggregate price of a home in the GTA will increase 6 per cent in the fourth quarter of 2024, compared to the same quarter last year.
“The previous forecast has been revised downward to reflect current market conditions,” the report said. In July, Royal LePage had said it expected the price to rise by 10 per cent.
The GTA is slightly ahead of the national price forecast of a 5.5 per cent increase, which was also lowered from 9 per cent.
READ MORE: https://www.thestar.com/real-estate/royal-lepage-lowers-toronto-area-home-price-forecast-due-to-soft-fall-market/article_16824ec6-8653-11ef-a3cd-cbabd3cb5819.html
