The Royal LePage Home Price Update and Market Forecast, distributed each quarter, includes price data and insights from experts in 62 real estate markets across the country, as well as national and regional forecasts.

Key highlights from the national release include:

• National aggregate home price forecast to increase 4.5% year-over-year in Q4 2023
• Single-digit price gains in first quarter driven by early return of sidelined buyer demand and continued shortage of inventory
• National aggregate home price up 2.8% quarter-over-quarter in Q1 2023; down 9.2% over same period in 2022 
• Greater regions of Toronto, Montreal and Vancouver post quarterly aggregate price gains of 4.8%, 1.3% and 1.3%, respectively in the first quarter
• Royal LePage urges OSFI to heed the economic dangers that would accompany new, aggressive mortgage restrictions