CREA lowers housing market forecast for 2024 amid ‘holding pattern’ for home sales
The Canadian Real Estate Association is downgrading its housing market forecast for the remainder of the year again, saying the Bank of Canada’s interest rate cuts haven’t spurred the gradual improvement it previously anticipated.
CREA said Tuesday it now thinks the national housing market will remain in “more of a holding pattern” until next spring with 468,900 properties forecast to trade hands this year.
That would mark a 5.2 per cent increase from 2023, down from its July prediction of a 6.1 per cent bump and its April outlook of 10.5 per cent.
Categories
Recent Posts
These unexpected costs could derail your plan to buy a home
Two offers for Toronto condo ‘almost unheard of’ in current market
Corner condo in Forest Hill sells at full price in nine days
New Calgary townhouse cuts price to compete against area’s detached homes
Saddle up: A horse-friendly country retreat north of Toronto
A modern Regina house seeks a duality of purpose
This architect-sculptor duo are bringing colourful, interactive urban art projects to the GTA
Two-bedroom Toronto home sells for $100,000 over asking price
In a tough market, agents try new novelties to grab attention
Toronto sees new wave of listings in July and a pricing pull-back
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "