MARCH 2024 CREA Statistics and Quarterly Forecast
Hints of Active Spring Market
While there are expectations the Canadian housing market will pick up on some level this year, home sales and prices were mostly unchanged on a month-over-month basis in March 2024, according to the latest data from the Canadian Real Estate Association (CREA).
Home sales activity recorded over Canadian MLS® Systems edged up 0.5% between February and March 2024, holding around 10% below an average of the last 10 years.
Access the March 2024 stats PDF.
CREA Forecasts Rebound in Residential Property Sales
Ottawa, ON April 12, 2024 – According to the latest quarterly forecast from the Canadian Real Estate Association (CREA), Interest rates are expected to continue to be the major factor affecting Canadian housing markets into 2024 and 2025.
Many Canadian housing markets have been quiet since the Bank of Canada’s summer rate hikes last year. Interest rates have been the major factor affecting markets over the last few years, and this is expected to continue to be the case in 2024 and 2025.
Access the April 2024 forecast PDF.