© Anis Heydari/CBC Len T. Wong is a real estate agent at Greater Property Group in Calgary. They are now realizing that in the next two or three years, that interest rate is going to double or triple. "We had about a 30 per cent migration rate of people coming here from out of town. So we are still getting the same rate of interest but with no inventory, so that's why prices have stabilized. The national average home price is forecast to recover by 4.7 per cent from 2023 to 2024, to around $702,000.

Source: CBC News April 19, 2023 14:57 UTC