Canadian Home Prices Expected to Rise 9% in 2024 Despite Market Uncertainties

Real estate activity slows in major markets as inventory builds, but prices continue to climb.

National aggregate home price rose 1.9% in the second quarter, reaching $824,300.
Toronto and Vancouver show slower market activity, yet prices remain high.
Interest rate cuts have not significantly boosted market activity or affordability.
Inventory levels are the highest in over a decade, with 180,000 properties listed for sale.
Experts predict a gradual return of buyers in the second half of 2024.