CREA Cafe looks at the latest CREA Canadian Real Estate Association forecast for 2023 and 2024. The downward trend of reduced sales as the result of higher interest rates seems to be mostly behind us. Some of the figures are:
- it is forecast that 492,674 properties will change hands in 2023 – a 1.1% decline to 2022
- the national average home price will be $670,389 a decline of 4.8% to 2022
- national home sales forecast to be 561,090 in 2024 an increase of 13.9%
