Since the late spring of 2020, Canadian home prices have been rising at historic rates, following the onset of the global pandemic. Widespread lockdowns suddenly forced millions of workers and students to conduct their daily business from home. While the trend of working remotely was gaining in popularity in the years prior, the seemingly unending health crisis accelerated the movement, driving many Canadians living in major urban centres to trade in their cramped quarters for more space in smaller cities and rural communities.
The latest Royal LePage House Price Survey and Market Forecast shows price growth in Kingston’s single-family detached segment was the highest in the country, posting an increase of 46.5% year-over-year in the third quarter.
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