CREA cuts housing market forecast for 2024 despite June sales rising

📆 13/07/2024 00:02:00
📰 BNNBloomberg

⏱ Reading Time:
23 sec. here
4 min. at publisher
📊 Quality Score:
News: 19%
Publisher: 50%

Business Notizia

Construction,Real Estate

The Canadian Real Estate Association says it is scaling back its housing market forecast for the remainder of the year amid increased levels of supply and a quiet spring spurred by fewer interest rate cuts expected in 2024.

Sammy Hudes, The Canadian PressPhil Soper, president and CEO of Royal LePage, joins BNN Bloomberg to discuss real estate and home prices.

“It wasn’t a ‘blow the doors off’ month by any means, but Canada’s housing numbers did perk up a bit on a month-over-month basis in June following the first Bank of Canada rate cut,” said CREA senior economist Shaun Cathcart in a press release. CREA said it is now forecasting just a 2.5 per cent annual increase in the average price of a home for 2024 to to $694,393. That’s down from its previous forecast of a 4.9 per cent increase.

Scrivi un Commento

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

CREA cuts housing market forecast for 2024 despite June sales risingThe Canadian Real Estate Association says it is scaling back its housing market forecast for the remainder of the year amid increased levels of supply and a quiet spring spurred by fewer interest rate cuts expected in 2024.
Fonte: CTVNationalNews - 🏆 82. / 51 Leggi di più »