Housing prices fluctuate from year to year. Inflation, interest rates and the general economic climate all play a role. If demand for homes is high, interest rates are attractive and properties are selling quickly, then average housing prices will rise. If the market softens and homes take longer to sell, then market values will go down.
Be especially aware of market conditions if you plan to own your home for a short time (1-3 years). If the prices dip and you have to sell before they recover, you may lose money on your investment.
Average house prices vary widely depending on where you plan to live and the type of dwelling. RBC has information on Canadian Housing, housing trends and affordability to help you stay informed.
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