Blake

In July, the unadjusted total residential benchmark price reached $567,700, marking the seventh consecutive monthly gain. Prices are now over four per cent higher than the previous peak in May of 2022. Continued migration to the province, along with our relative affordability, has supported the stronger demand for housing despite higher lending rates,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, we continue to struggle with supply in the resale, new home and rental markets resulting in further upward pressure on home prices.”