Still, a decline in sales activity will prompt
a modest decline in home prices in a few provinces, including: B.C., Saskatchewan, Nova Scotia, PEI and Newfoundland & Labrador.
Not exact matches
Although
prices will
decline in a few overheated markets,
in most areas
home prices will continue to rise, albeit at a
modest, more sustainable pace than
in the past few years.
Adds Yun, «With
home prices and rents continuing to rise and wages showing only
modest growth,
declining affordability remains a hurdle for renters considering homeownership — especially
in higher -
priced markets.»
Some of the
decline in the affordability index could be the result of a loss
in some more
modest priced home sales as tight underwriting standards have limited the purchases by moderate income families.»