June 2, 2010
CREA has re-thought its projections on the outlook for the Canadian housing market in the coming year.
CREA expects 490,600 sales through the Multiple Listing Service in 2010, a 5.5% jump from a year earlier and the second-best year on record. However, by 2011, sales are expected to fall by 8.5%. Financial Post
CREA now says the market peaked in the fourth quarter of 2009 and predicts by next year the average price of a home sold through the MLS will be $318,300, a 2.2% decline from 2010. This year’s average price increase in now expected to be only 1.6% higher than 2009. Financial Post