Key Insights
In December 2024, Canadian home sales fell by 5.8% compared to November, indicating a slowdown in market activity.
The New Housing Price Index declined by 0.1% in December 2024, with Greater Sudbury, Calgary, and Toronto experiencing the most significant drops.
Toronto's housing market faced challenges with oversupply, leading to a 19% drop in resale transactions between November and December 2024.
AI Analysis
The Canadian housing market is likely to remain bearish in the near term, with declining sales and rising unsold inventory. A potential recovery hinge...
Market Outlook
Short-Term
In the short term, the housing market is expected to remain subdued, with declining sales and rising unsold inventory. Affordability challenges will continue to deter potential buyers, leading to a cautious market environment.
Long-Term
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