Canadian real estate firm Royal LePage predicts a 10% home price increase in 2023, mainly due to a housing shortage.

Canadian real estate firm Royal LePage forecasts a 10% home price increase this year, citing a 9% rise by year-end, with Q1 showing a 4.3% year-over-year gain. The firm attributes these increases to returning buyers and expects interest rates to fall in 2024, attracting more buyers. However, the "severe shortage" of housing across the country is the main driver of rising home prices.