The Canadian Real Estate Association (CREA) has adjusted its 2026 outlook, lowering its growth forecast for home sales from 5.1 per cent to just one per cent. This update comes as national sales activity in March dipped 2.3 per cent year-over-year, reflecting a market grappling with economic uncertainty and stubborn inflation.
National average home prices are now projected to rise by only 1.5 per cent this year, reaching $688,955—a decrease of $10,000 from previous January estimates. While economists point to potential headwinds from global geopolitical tensions and oil-driven inflation, industry leaders remain cautiously optimistic. Royal LePage suggests that any positive shifts in trade agreements or global stability could rapidly improve consumer confidence. For those navigating the GTA market, the current trend remains a waiting game as buyers monitor fixed mortgage rates and interest rate policy. For the full breakdown of the national housing forecast and expert analysis, read the original article on CTV News.
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