{"id":21338,"date":"2023-02-13T10:10:00","date_gmt":"2023-02-13T18:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=21338"},"modified":"2023-02-09T09:06:20","modified_gmt":"2023-02-09T17:06:20","slug":"housing-market-to-see-new-listings-fall-in-q1-before-rebounding-to-a-modest-growth-pace-in-2024","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/02\/housing-market-to-see-new-listings-fall-in-q1-before-rebounding-to-a-modest-growth-pace-in-2024\/","title":{"rendered":"Housing Market to See New Listings Fall in Q1, Before Rebounding to A Modest Growth Pace in 2024"},"content":{"rendered":"<p style=\"text-align: justify;\">A new report says Canada&#8217;s housing market will see new listings fall in the first quarter before rebounding later in the year and then, slowing to a more modest growth pace in 2024.<\/p>\n<p style=\"text-align: justify;\">The report from Rishi Sondhi, an economist with TD Economics says subdued sales and declining prices will result in listings falling in the first quarter of 2023.<\/p>\n<p style=\"text-align: justify;\">Sondhi then sees listings increasing by 7% between the second and fourth quarter before slowing to a growth pace of about 2% in 2024.<\/p>\n<p style=\"text-align: justify;\">While he predicts some near-term weakness, he also sees rising demand keeping markets balanced and underpinning positive growth in home prices, particularly in the second half of this year.<\/p>\n<p style=\"text-align: justify;\">However, he says there is some risk that supply grows more forcefully than anticipated as homeowners face record high debt servicing costs.<\/p>\n<p style=\"text-align: justify;\">The Canadian Real Estate Association foresees home sales rising by 10.2% in 2024 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<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2023\/02\/canadas-housing-market-see-listings-fall-first-quarter-rebounding-td\" target=\"_blank\" rel=\"noopener\">TD : Canada&#8217;s Housing Market to See Listings Fall in First Quarter, Before Rebounding<\/a> by The Canadian Press | Chung Chow | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new report says Canada&#8217;s housing market will see new listings fall in the first quarter before rebounding later in the year and then, slowing to a more modest growth &hellip; 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