CREA downgrades home sales forecast for the third time this year - CTV News

BNN Bloomberg is Canada’s definitive source for business news dedicated exclusively to helping Canadians invest and build their businesses. The Canadian Real Estate Association has downgraded its forecast for home sales activity in 2026 for the third straight quarter. CREA now expects a total of 444,530 homes to be sold by the end of this year, representing a 5.2 per cent decrease from 2025. That’s down from its July forecast of a 1.4 per cent year-over-year decline, which marked a reversal from its April forecast of a one per cent gain. The association had predicted 5.1 per cent growth year-over-year in January. CREA also projects the national average home price to tick 0.2 per cent higher on an annual basis to $681,681 this year, which is around $5,000 lower than predicted in the summer. Most recent real estate news from BNNBloomberg.caThe association said its revised forecast comes amid a “roller-coaster year,” with the global energy crisis fuelling inflation risks and affecting borrowing costs.

Open this photo in gallery:CREA projects the national average home price to tick 0.2 per cent higher on an annual basis to $681,681 this year. Paige Taylor White/The Canadian PressThe Canadian Real Estate Association has downgraded its forecast for home sales activity in 2026 for the third straight quarter. CREA now expects a total of 444,530 homes to be sold by the end of this year, representing a 5.2 per cent decrease from 2025. That’s down from its July forecast of a 1.4 per cent year- over-year decline, which marked a reversal from its April forecast of a one per cent gain. The association had predicted 5.1 per cent growth year-over-year in January. CREA also projects the national average home price to tick 0.2 per cent higher on an annual basis to $681,681 this year, which is around $5,000 lower than predicted in the summer. The association said its revised forecast comes amid a “roller-coaster year,” with the global energy crisis fuelling inflation risks and affecting borrowing costs.

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