{"id":21208,"date":"2023-01-24T10:10:00","date_gmt":"2023-01-24T18:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=21208"},"modified":"2023-01-23T10:04:19","modified_gmt":"2023-01-23T18:04:19","slug":"crea-home-sales-forecast-to-edge-down-0-5-in-2023-rise-by-10-2-for-2024","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/01\/crea-home-sales-forecast-to-edge-down-0-5-in-2023-rise-by-10-2-for-2024\/","title":{"rendered":"CREA Home Sales Forecast to Edge Down 0.5% in 2023, Rise by 10.2% for 2024"},"content":{"rendered":"

OTTAWA \u2014 The Canadian Real Estate Association says it expects home sales this year to edge down 0.5% compared with 2022.<\/p>\n

In its updated forecast for the year, it also says it expects the average home price to decline 5.9% on an annual basis to $662,103 in 2023.<\/p>\n

For 2024, CREA expects home sales to rise by 10.2% as markets continue to return to normal, while it expects the national average home price to gain 3.5% from 2023 to 2024 to around $685,056, below 2022 but back on par with 2021.<\/p>\n

The outlook came as CREA reported home sales in December 2022 were down 39.1% compared with a year earlier.<\/p>\n

However, the association says national home sales in December 2022 were up 1.3% on a month-over-month basis.<\/p>\n

The actual national average home price in December was $626,318, down 12% from the final month of 2021.<\/p>\n

This report by The Canadian Press was first published Jan. 16, 2023.<\/p>\n

CREA Predicts 2023 Home Sales to Edge Down 0.5% from 2022<\/a> Mark by The Canadian Press | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"

OTTAWA \u2014 The Canadian Real Estate Association says it expects home sales this year to edge down 0.5% compared with 2022. 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