Home prices will peak this spring after rising rates prove 'game changer,' predicts RBC
Calgary Herald: 'The Bank of Canada has now raised rates to one per cent, and RBC expects the central bank will add another 100 basis points over the next six months to reach two per cent, slightly above the pre-pandemic level of 1.75 per cent....
'...Prices will peak this spring and then weaken modestly over the rest of the year, Hogue said. RBC increased its price forecast for 2022 to an 8.1 per cent rise, because of a stronger-than-expected start to the year. But it lowered its forecast for 2023, where it now sees prices falling by 2.2 per cent.
'“We think the national benchmark price could drop close to five per cent on a quarterly basis from peak to trough,” said Hogue.'