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
Price on Oakville semi trimmed to adjust to slower market
CMHC gives up on goal to reduce prices to 2004 levels, the Home of the Week and more top real estate stories
Large Vancouver condo with a special view gets its asking price
B.C’s rental protection fund a template for federal version
A Toronto home, steeped in childhood memories, is redesigned into finely crafted luxury
Best of nine offers on revamped semi in High Park North goes $196,000 over asking
North York luxury home sells by keeping under $4.5-million mark
Brothers hire Montreal design studio to remake each of their homes
Toronto needs 32,000 more homes a year just to get back to prepandemic affordability, CMHC says
Growing number of renters are waiting for home prices to decline further before buying, report says
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "