Blaming both rising interest rates and tougher mortgage rules, CREA predicts that next years sales will fall to a nine-year low. However, CREA also believes that the average home sale price will rise a bit less than 2 percent.
While we expect sales activity to stabilize next year… we nevertheless anticipate that prices will slow even further to gains likely below that of inflation.- Canadian Real Estate Association
For more information, see the CREA News Release
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