Desjardins released a real estate outlook last month calling for a “sharper correction” in resale real estate in Canada than previously expected.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
In both instances, Ontario and B.C. will see the largest declines. Sales in Ontario are forecast to fall by 25 per cent while average prices could decrease by as much as 24 per cent from February this year to December 2023. In B.C., prices are predicted to drop by 22 per cent with sales down 29 per cent.Article contentSales are still expected to decline over the next year and a half, but only by 14 per cent, trailing only Saskatchewan and Manitoba .
It's not a 'market correction'. A market correction is organic and not created by poor government policies. Thus is a restriction or ceiling.