Home prices will stay flat until next year: RE/MAX Canada president

High interest rates and home prices have kept Canada’s housing market relatively quiet over the past few months, and the president of RE/MAX Canada expects more of the same for the remainder of the year.

“You'll have some markets perform better than others, some will retract, but generally speaking, we're looking at a pretty flat market,” Christopher Alexander told BNN Bloomberg on Tuesday.

RATE DECISION

Alexander said it’s difficult to predict what next year has in store for the housing market, as the Bank of Canada has made some surprise rate decisions over the past 18 months – though he noted that demand for home ownership will always be there.