Canadian Real Estate News Headlines (June 17th 2019)

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I provide you with Canada’s news headlines for real estate news for today.

CREA upgrades home sales forecast for 2019 to show 1.2 percent improvement

The Canadian Real Estate Association is upgrading its forecast for 2019 home sales, which are now expected to show a slight improvement compared with last year.

The association said home sales are projected to edge up 1.2 per cent from last year to 463,000 units in 2019 compared with its previous forecast of a decline of 1.6 per cent this year.

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Canada’s home sales rise for third month, easing concerns about correction

Canadian home sales activity continued to rebound last month, suggesting the nation’s housing market is improving after a sluggish start to the year.

Home sales rose 1.9 per cent nationally, the Canadian Real Estate Association said Friday from Ottawa. It’s the third-straight reported increase in transactions, after a brutal February which saw sales plummet as home buyers grappled with rising interest rates and tighter mortgage rules.

The report is in line with other recent data that suggests housing has begun to recover from a recent slump, easing concerns that some of the country’s more expensive markets like Toronto were poised for a major correction.

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