CREA Downgrades Resale Housing Market Forecast
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The Canadian Real Estate Association (CREA) has downgraded its forecast for home sales and prices in 2026 and 2027 due to higher mortgage rates and a tepid economy. CREA now expects 474,972 residential properties to be sold in 2026, a 1% increase from 2025.
The Canadian Real Estate Association (CREA) has updated its forecasts for home sales and average home prices. CREA now expects 474,972 residential properties to be sold in 2026, a 1% increase from 2025. The national average home price is forecast to rise 1.5% to $688,955 in 2026. Higher mortgage rates and a tepid economy have led to the downgrade. In 2027, national home sales are forecast to climb 2.1% to 485,071 units. The national average home price is expected to edge up 0.9% to $695,094 in 2027.
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