The Canadian Real Estate Association's quarterly forecast indicates a mixed outlook for the housing market. While national home sales are expected to recover modestly with a 5.2% increase in 2024, affordability challenges persist. Interest rate cuts have led to slight sales increases, but consumer sentiment remains low. September saw a 6.9% rise in home sales year-over-year, yet prices are down 3.3%. More listings are available, but sales are not keeping pace. A more significant rebound is anticipated in 2025, contingent on further interest rate reductions.
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