(Toronto) A new report from the firm Re/Max Canada based on a survey that the firm Léger conducted a month and a half ago predicts that the Canadian real estate market will be calmer this fall and that average house prices will remain stable .
The real estate market is currently facing high interest rates and a lack of homes for sale. The survey indicates that 33% of Canadians interested in buying or selling a home in the next 12 months will wait to see how interest rates change before buying.
Mortgage rates have risen sharply over the past year as the Bank of Canada seeks to bring inflation down to 2%.
The central bank’s next announcement on its key rate will be made Wednesday morning.
The Leger survey was conducted online with 1,517 Canadians between July 21 and July 23. No margin of error can be attributed to it, as online surveys are not considered truly random samples.
