Wednesday, March 28, 2018
The Canadian Real Estate Association (CREA)
Real Estate Market
The Canadian Real Estate Association (CREA) is one of Canada's largest single-industry trade associations, representing more than 120,000 real estate Brokers/agents and salespeople working through more than 90 real estate Boards and Associations.
In the middle of March this year they released their quarterly forecasts for home sales activity via the MLS® in 2018 and to 2019.
Although the housing market remains strong in many parts of Canada, they tend fo face headwinds due to the new government policies, eg. new mortgage rules, fears of the national bank raising interest rates.
As a result the national forecast for sales and average price has been lowered. Sales activity is projected to go down by 7.1% (479,400 units) in 2018, and national average price is projected to go down by 2.3% ($498,100) from 2017.
In 2019 they are predicting that national sales activity is going to have a modest rebound by 3.56% (496,500 units). And the national price is forecasted to rebound by 3.1% ($513,300).
For full details please visit https://www.crea.ca/housing-market-stats/quarterly-forecasts/