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CREA lowers housing market forecast for 2024 amid ’holding pattern’ for home sales

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Summary
Nutrition label

73% Informative

CREA says it now thinks the national housing market will remain in “more of a holding pattern” until next spring .

The average price of a home sold in September amounted to $ 669,630 , up 2.1 per cent from September 2023 .

CREA senior economist Shaun Cathcart says with the pace of rate cuts expected to be much faster than previously thought, some potential buyers may hold off on a purchase for now.

VR Score

83

Informative language

88

Neutral language

40

Article tone

semi-formal

Language

English

Language complexity

41

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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