Canadian Home Sales Growth Forecast Cut to 1 Percent
The national average sale price fell 0.8% to $673,084 in March. The Canadian Real Estate Association's home price index for the typical home dropped 4.7% year-over-year. These shifts are driven by a jump in fixed mortgage rates, which followed higher inflation and rising global economic uncertainty. Higher inflation has increased the probability of a rate hike in 2026. The Canadian Real Estate Association downgraded its 2026 home sales forecast to 474,972 residential properties. This represents 1% growth over 2025, down from a January forecast of 5.1% growth. The national average home price is forecast to rise 1.5% to $688,000 in 2026. This figure is $10,000 lower than the January forecast.
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