Canadian Home Sales Dip, Prices Stable
Montreal News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Canadian home sales slightly decreased in February, with the national benchmark price dropping 4.8% to $661,100, matching spring 2021 levels. New listings fell 3.9% from January, and the sales-to-new-listings ratio tightened. Price drops in BC, Ontario, and Alberta offset gains in other areas. Economists anticipate quiet activity this spring, but pent-up demand could heat up. Inventory is increasing, adding pressure amid economic worries. The Bank of Canada is likely to hold interest rates steady, with potential cuts later this year. Experts predict a restrained spring market, with a possible uptick by late 2025 if uncertainties ease.
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