Canadian Real Estate Association revises 2024 housing market forecast to 468,900 property sales, a 5.2% increase from 2023.
The Canadian Real Estate Association (CREA) has revised its 2024 housing market forecast, now expecting 468,900 properties to be sold, a 5.2% increase from 2023, down from earlier predictions. The average home price in September was $669,630, with a projected 0.9% increase for 2024. Following recent interest rate cuts, CREA anticipates the market will stabilize until spring 2024, with potential for a stronger rebound thereafter.
October 15, 2024
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