Canadian home sales to fall by 1.1 per cent says CREA
The Canadian Real Estate Association is predicting a fall in home sales of 1.1 per cent for 2015 as oil prices subdue consumer confidence in some provinces. It also predicts that Alberta home prices will drop by 3.7 per cent bringing the national average growth in prices to 2 per cent. That means the average home in Canada will cost $416,200. Sales volume will vary by province; Alberta down 19.3 per cent; Saskatchewan down 11.2 per cent; Manitoba 2.2 per cent; Newfoundland down 1 per cent; BC up 4.9 per cent; Nova Scotia up 3.7 per cent; Quebec and New Brunswick up 2.5 per cent; Ontario up 1.9 per cent; and PEI up 1.4 per cent.