A new report says Canada\u0027s housing market will see new listings fall in the first quarter before rebounding later in the year
Play Video
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.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
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. However, he says there is some risk that supply grows more forcefully than anticipated as homeowners face record high debt servicing costs.
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.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Letters: Amira Elghawaby 'is not embattled'Readers weigh in on the controversy surrounding Canada\u0027s new anti\u002DIslamophobia rep and more
Read more »
Canada One Group buys one of Canada's biggest GM stores from Jamie MassieBarrie, Ont. businessman Jamie Massie, the longtime owner of Georgian Chevrolet Buick GMC, has sold the high-volume dealership north of Toronto to Canada One Auto Group.
Read more »
Bank of Canada won't be cutting interest rates anytime soon: Tiff MacklemBank of Canada\u0027s Tiff Macklem warned that interest rates could rise if economic conditions deviate from the central bank’s outlook. Read on.
Read more »
Grocery CEOs snub Ottawa profiteering inquiry, exacerbating tensions with politiciansCanada\u0027s top supermarket chain chief executives have so far snubbed hearings on food inflation, exacerbating tensions with MPs. Read more
Read more »
Grocery CEOs snub Ottawa profiteering inquiry, exacerbating tensions with politiciansCanada\u0027s top supermarket chain chief executives have so far snubbed hearings on food inflation, exacerbating tensions with MPs. Read more
Read more »
Grocery CEOs snub Ottawa profiteering inquiry, exacerbating tensions with politiciansCanada\u0027s top supermarket chain chief executives have so far snubbed hearings on food inflation, exacerbating tensions with MPs. Read more
Read more »