CREA predicts housing prices will rise roughly 5.6 percent in 2022

The Canadian Real Estate Association is predicting that the average price of a home is going to go up by 5.6 percent in Canada during 2022 to around $718,000.

Alongside this, the association is also expecting total sales to drop down to around 577,000 sales next year.

Following this report, Macleans also mentions an RBC paper that predicts another year of hectic housing market activity as the pressure from all the demand over the last two years begins to dissipate.

Source: Macleans 

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