Blaming both rising interest rates and tougher mortagage rules, CREA predicts that next years sales will fall to a nine year low. However, CREA also beleives that the average home sale price will rise a bit less than 2 percent.

While we expect sales activity to stabilize next year… we nevertheless anticipate that prices will slow even further to gains likely below that of inflation.- Canadian Real Estate Association

For more information, see the CREA News Release

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