CREA lowers housing market forecast for 2024 amid ‘holding pattern’ for home sales

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 16 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 45%
  • Publisher: 92%

Cent News

Increase,Crea,Basis

The 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

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.

The new forecast comes as CREA says the average price of a home sold in September amounted to $669,630, up 2.1 per cent from September 2023. The association says 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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

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.
Source: CTVNews - 🏆 1. / 99 Read more »

BC Real Estate And Development Industry Hires: September 2024STOREYS is the leading real estate news site in the country, providing the most accurate and up-to-date coverage of the Canadian market.
Source: storeyspub - 🏆 16. / 74 Read more »