The Canadian Real Estate Association has downgraded its forecast for home sales activity in 2026 again, despite a small uptick in the number of homes that changed hands in June.
CREA is now expecting a total of 463,336 residential properties to be sold throughout the year, representing a 1.4 percent decline from 2025. That marks a reversal from its April forecast of a one percent gain, which itself was a downgrade from the association’s January prediction of 5.1 percent growth year-over-year.
The national average home price is forecast to rise 1.1 percent on an annual basis to $686,710 this year, which would be around $2,000 lower than predicted in the spring….