Deloitte Canada is forecasting the Canadian housing market will bottom out in the third quarter this year.
“With expected rate cuts starting at the end of this year and throughout 2024, the housing market recovery will begin.” But the Bank of Canada “appears to be done lifting interest rates,” Deloitte says, as long as inflation continues to ease. The firm forecasts inflation falling to 3.5 per cent by the second quarter this year and declining further to the central bank's ideal two per cent target by the end of 2024.
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