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
The Liberals are betting prefab homes will help boost supply. But who will want to live in them?
St. Clair West semi beats asking price by $85,100
Scarborough bungalow touts mid-$800,000s price, attracts two offers
Bank of Canada rate decision offers little relief to homeowners facing mortgage renewals
New Calgary towers near Stampede grounds to offer hotel comforts with the benefits of ownership
Second agents relist aging Annex house with fewer photos, more global promo to get bids
Testy sellers, cautious buyers as real estate market adjusts to global trade uncertainty
Toronto's 'renoviction' bylaw takes effect Thursday. Here's what you need to know
Modular-home builder facing receivership says: ‘I haven’t given up this vision’
A wild oasis tucked away in suburban Burlington
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "