Canadian housing market activity could decline by double-digit levels this year and remain depressed through most of 2023, according to a new report from TD Economics.
“Rising borrowing costs will continue to weigh heavily on housing activity. We forecast a 33% peak-to-trough decline in Canadian home sales from 2022 Q1 – 2023 Q1. Beyond that timeframe, activity should begin to firm, (while remaining at low levels) through the remainder of next year, as interest rates drop from their multi-year highs,” TD explained in its latest market report. # SANDI HALPERN # REAL ESTATE # SOLD # LEASED
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