Ottawa, ON, June 15, 2017 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2017 and 2018.
Housing market trends continue to diverge considerably among regions along four general themes: British Columbia, the Greater Golden Horseshoe, oil and natural resource dependent provinces, and everywhere else.
In British Columbia, activity is showing early signs of recovering from last year’s correction in some areas of the province. This suggests home buying sentiment may be starting to improve.
In Ontario, evidence suggests that housing market sentiment has similarly cooled following housing policy changes made by the provincial government in April 2017. Trends for the province are softening, with home sales and price growth in the Greater Golden Horseshoe region slowing.