The Canadian Real Estate Association reports a strong fourth quarter with home sales up 19.2% year-over-year, signaling potential market rebound in 2025.
During the last quarter of 2024, sales rose 10% from the preceding quarter, representing one of the busiest periods in two decades, excluding the pandemic.
CREA's Shaun Cathcart anticipates a "significant unleashing of demand" in spring 2025, driven by stabilizing interest rates and an increasing number of listings.
Despite a 5.8% month-over-month drop in December, home sales remained robust, being 13% higher than in May, just before the Bank of Canada cut rates.
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