"The Canadian Real Estate Association downgraded its forecast for home sales in 2025, expecting a total of 469,503 residential properties to be sold, a three percent decline from 2024."
"CREA expects the national average home price to fall 1.7 percent annually to $677,368 in 2025, which is about $10,000 lower than predicted in April."
"CREA senior economist Shaun Cathcart noted that despite a 'chaotic start to the year,' recent data suggests a delayed rebound for the housing market."
"Despite uncertainties from U.S. tariffs affecting buyer activity in B.C., Alberta, and Ontario, markets may be entering the long-expected recovery phase."
The Canadian Real Estate Association has revised its home sales forecast for 2025, estimating total sales to reach 469,503, a three percent decrease from 2024. June saw a 3.5 percent increase in home sales compared to last year and a 2.8 percent rise from May. The national average home price is projected to fall 1.7 percent to $677,368 due to trade war-related uncertainties. CREA's senior economist stated that while a recovery may have been delayed, markets appear to be entering a long-anticipated rebound.
Read at www.cbc.ca
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