CREA cuts 2017, 2018 forecast due to incoming tighter mortgage rules (December 14, 2017)

CREA cuts 2017, 2018 forecast due to incoming tighter mortgage rules -> LINK

The Canadian Real Estate Association says it has cut its home sales forecast for next year due to the impact of tighter mortgage regulations taking effect in the new year, which will erode affordability.

 

The association representing real estate agents across the country also downgraded projections for 2017.

It now expects national sales activity this year to decline by four per cent to 513,900 units this year due to weak activity in Ontario, after the province in April announced measures to cool the market.

However, it says the national average price of a home is still expected to rise to $510,400, up 4.2 per cent compared to 2016.

No Comments

Post A Comment