FORECAST: CANADIAN HOME SALES TO FALL SLIGHTLY IN 2023 BEFORE BOUNCING BACK NEXT YEAR

Jan 16, 2023

By Bob Komsic

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The Canadian Real Estate Association predicts this year’s housing market will result in sales sliding 0.5% compared to last year.
In its updated forecast for 2023, CREA also expects the average price to fall 5.9%.
Looking at 2024, as markets continue returning to normal, the group expects home sales to rebound by 10.2% and the average price to gain 3.5%, below last year, but back on par with 2021.
CREA says sales last December were up 1.3% from the month before but down 39% compared with December 2021.
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