CREA Updates Resale Housing Forecast

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 for  2012 and 2013.

CREA’s previous forecast predicted generally stable resale housing activity in 2012, with growth in Alberta and Saskatchewan offsetting slight sales declines in British Columbia and Ontario. The revised forecast reflects a stronger than expected acceleration of sales activity in Alberta and Saskatchewan, a slightly faster than anticipated slowdown in British Columbia, and continued buoyancy in Ontario sales activity—specifically the Greater Toronto Area market.