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.
It said the average price of a home sold last month amounted to $669,630, up 2.1 per cent from September 2023. The association said it is now forecasting just a 0.9 per cent annual increase for 2024 to $683,200, down from its previous outlook of a 2.5 per cent annual increase. "It would be one thing if we had lots of buyers and multiple offers and lots of showings, but the buyers are just taking their time."
The Bank of Canada began its rate-lowering process in June and has cut its key rate by a quarter-percentage point a total of three times so far this year, bringing it to 4.25 per cent.
Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
CREA lowers housing market forecast for 2024 amid 'holding pattern' for home salesThe 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.
Bron: CTVNews - 🏆 1. / 99 Lees verder »
CREA lowers housing market forecast for 2024 amid 'holding pattern' for home salesOTTAWA — The Canadian Real Estate Association is downgrading its housing market forecast for the remainder of the year again, saying the Bank of Canada's...
Bron: YahooFinanceCA - 🏆 47. / 63 Lees verder »
CREA lowers housing market forecast for 2024 amid ‘holding pattern’ for home salesThe new forecast comes as CREA says the average price of a home sold in September amounted to $669,630, up 2.1% from September 2023
Bron: globeandmail - 🏆 5. / 92 Lees verder »
CREA lowers housing market forecast for 2024 amid 'holding pattern' for home salesOTTAWA — 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.
Bron: SooToday - 🏆 8. / 85 Lees verder »