The Canadian Real Estate Association (CREA) is cutting its forecast for home sales this year and lowering its expectations for price growth as some of the country’s hottest markets cool from their pandemic highs.
In its latest housing market outlook released Thursday, the association said it expects 532,545 properties to trade hands via Canadian MLS systems this year, down 20 percent from the 2021 annual record. Sales will drop another 2.3 percent in 2023 to total 520,156, CREA said.
