The Canadian housing market outlook from economist Rishi Sondhi attributes the prediction to the poorest affordability level since the late 80s and early 90s
A new report from TD Economics predicts Canada will see the weakest level of home sales since 2001 this year.outlook from economist Rishi Sondhi attributes the prediction to the poorest affordability level since the late 80s and early 90s.
Sondhi is forecasting that home sales will reach their bottom sometime in early 2023, after declining 20 per cent from peak to trough. He says steep annual average price declines are expected in most of the Atlantic provinces, Ontario and B.C. in 2023, while lesser drops will materialize across the Prairies and in Newfoundland and Labrador.that the actual national average home price was $632,802 in November, a 12 per cent decline from the same month last year.
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