Looking ahead: 2012 and beyond

March 13, 2012

 

Look for low interest rates to continue supporting Canada’s real estate market through 2012. In its annual look ahead, the Canadian Real Estate Association predicts home resales to rise by 0.3 per cent this year. National sales are forecast to reach 458,800 units in 2012, up from 457,305 in 2011.
Looking to 2013, CREA expects sales to ease back to 457,200 units, with modest gains in all provinces except Ontario as economic and job growth picks up later this year and builds into 2013. The national average price is expected to decline by 1.1 per cent in 2012 to $359,100, followed by a slight increase of 0.9 per cent to $362,300 in 2013.

 

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