A top real estate service has hiked its home price forecast for Toronto, saying limited supply and tough competition will lead prices to outpace other Canadian cities and overtake Vancouver by the end of the year.
Royal LePage Real Estate Services Ltd. is now projecting a 10 per cent increase in home prices in Toronto in 2024, up from the 6 per cent it projected at the end of last year, based on strong demand from buyers in the first quarter of this year, according to its new analysis. Nationally, the forecast has risen to 9 per cent up from 5 per cent.
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