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
Could they create a cosy, colourful home from the shabby semi they bought?
Jason Miles' addiction cost $260,000 in emergency room, shelter and jail stays. A Toronto hospital’s radical solution: just give him a home
B.C. industry hopes to create a model for modular housing across Canada
Regent Park condo lands buyer after steady price cuts
Housing advocates protest Vancouver’s densification plan, the Home of the Week and more top real estate stories
Seven offers for Don Valley condo collapse before one finally sticks
Open-concept Port Moody penthouse with view of Burrard Inlet sells over asking
Toronto area home prices have now fallen 20% from market peak — but sales are starting to pick up
Toronto home sales rose 8.5% in September as prices decline
Home of the Week: A heritage Rosedale site gets a condo makeover
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "