Market watch: Brief mild correction forecast

Fewer homes are expected to trade hands in the first half of 2013, which should slow the pace at which home prices rise, according to a new survey. The average national home price is predicted to be 1% higher by the end of 2013, compared to 2012, according to the Royal LePage House Price Survey and Market Survey Forecast released recently. The average price of a home increased between 2 and 4 per cent in the last quarter of 2012, and the survey noted that although the volume of sales slowed in the second half of last year, house prices held firm, for the most part.