shaun cathcart
National housing market in ‘holding pattern’ as buyers patient for lower rates: CREA
The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely “stuck in a holding pattern” despite borrowing costs beginning to come down.
CREA cuts housing market forecast for 2024 despite June sales rising
CREA has lowered its housing market forecast for 2024, citing increased supply levels and a slow spring season due to fewer anticipated interest rate cuts in 2024.
June home sales up 3.7% as market responds to BoC rate cut and possibly capital gains changes
Home sales activity in June 2024 showed signs of renewed life following the Bank of Canada’s interest rate cut at the beginning of the month.
Home prices expected to climb 4.9% in 2024 as sales rise last month: CREA
The Canadian Real Estate Association says it’s now expecting the national average home price to climb 4.9% on an annual basis to $710,468, more than double the hike it had predicted at the start of 2024.
BoC’s summer rate hikes continue to slow housing activity…except in Alberta and Atlantic Canada
Real estate markets across the country continued to lose steam in August following the latest Bank of Canada rate hikes in June and July. Everywhere outside of Alberta and some pockets of Atlantic Canada, that is.
Higher interest rates put a chill on Canada’s housing markets in July
Home sales and prices continued to ease in July following the two latest rate hikes from the Bank of Canada.
June home sales softened but remain resilient as Bank of Canada rate hikes resume
The Bank of Canada’s June rate hike served as a splash of cool water to recent housing market strength as home sales moderated in June and priced edged down compared to May.