Canadian Real Estate Association downgrades 2024 forecast ...Middle East

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Canadian Real Estate Association downgrades 2024 forecast
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CREA now expects 468,900 properties to change hands in 2024 That's up 5.2% from 2023But down from July forecast of 6.1% increaseand way down from April forecast of 10.5% increaseAverage home price forecast for 2024: Now expecting 0.9% annual increase to $683,200Previous outlook was 2.5% annual increaseSeptember data: Average home price: $669,630 (up 2.1% y/y)Sales up 6.9% y/y, but only 1.9% m/mNew listings up 4.9% m/m2025 forecast: Home sales expected to climb 6.6%Average home prices forecast to rise 4.4% to $713,375The Canadian Real Estate Association always tilts optimistically because it's run by realtors. The direction of the changes is more important than the overall numbers here, simil

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