JUNE 2024 CREA Statistics and Quarterly Forecast

Canadian Housing Activity Perks Up in June
Activity in Canada’s housing market saw some early signs of renewed life in June 2024, following the Bank of Canada’s interest rate cut at the beginning of the month.

“It wasn’t a ‘blow the doors off’ month by any means, but Canada’s housing numbers did perk up a bit on a month-over-month basis in June following the first Bank of Canada rate cut,” said Shaun Cathcart, CREA’s Senior Economist. “Year-over-year comparisons don’t look great mainly because of how many buyers were still jumping into the market last spring, but that’s a story about last year. What’s happening right now is that sales were up from May to June, market conditions tightened for the first time this year, and prices nationally ticked higher for the first time in 11 months.”

Access the June 2024 stats PDF.


CREA Scales Back Resale Housing Market Forecast
Ottawa, ON July 12, 2024 – Following another quiet spring, and increased levels of supply, the Canadian Real Estate Association (CREA) has scaled back its housing market forecast for 2024 and 2025. 

Since CREA’s last forecast in April, expectations around interest rate cuts this year have been dialed back. Supply has also built up by more than expected as large numbers of sellers came to the market with properties for sale in the spring; however, buyers remained on the sidelines.

Access the July 2024 forecast PDF.