CREA Revises Resale Forecasts

A weaker than expected start to the year combined with mortgage requirements and interest rate increases has caused the Canadian Real Estate Association (CREA) to lower it’s forecast of home sales via the Multiple Listing Service (MLS). 

Previous reports from CREA forecasted that sales would continue to elevate in the first have of 2010, with sales leveling off in the later part of the year and into 2011.  This new forecast marks the fourth quarter of 2009 marking the peak of national activity.

The full report can be seen here, including a charted market forecast by province.

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