is rising rapidly as more buyers compete for a dwindling supply, according to the April report of the P.E.I. Real Estate Association. Real Estate Association, says prices will likely remain high until interest rates go up. (Laura Meader/CBC)Low interest rates have made borrowing for larger mortgages more attractive. Prices will likely remain high until interest rates go up, said Ellis, and that is not expected in the next couple of years.

Source: CBC News May 18, 2021 21:00 UTC