CREA cuts 2025 forecast again but says home sales are rebounding from ‘chaotic start’
For the second time this year, the Canadian Real Estate Association has downgraded its forecast for home sales in 2025, even as it says a turnaround could be looming following increased activity in June.
The association reported that the number of homes changing hands across the country in June rose 3.5 per cent compared with a year ago. Canadian home sales last month also increased 2.8 per cent compared with May on a seasonally adjusted basis.
In its outlook released Tuesday, CREA said it now expects a total of 469,503 residential properties to be sold this year, a three per cent decline from 2024. In April, the association forecast the number of home sales for 2025 to remain essentially unchanged from last year, which itself marked a steep cut from its January forecast of an 8.6 per cent year-over-year increase.
