Canada's Real Estate Market SLOWS in June: CREA 'Slashes' Outlook

#canadarealestate #canadianrealestate #bankofcanada

Canada’s real estate market showed signs of slowing in June, with the Canadian Real Estate Association (CREA) slashing its outlook for the remainder of 2023. With the Bank of Canada raising interest rates, and Prime sitting at 7.2%, the CREA said that we’re likely to see a major slowdown for the remainder of 2023.

Links:

Canadian Home Sales Showing Signs of Stabilization in June:

https://www.youtube.com/watch?v=0Qwxeg8uaBw

Canadian home sales continue to rise in March as markets tighten:

https://www.youtube.com/watch?v=bmpCpkfuJXM&t=90s

Canadian home sales begin 2023 at 14-year low:

https://www.youtube.com/watch?v=Oh67aoV0rUY&t=223s

CREA: https://www.youtube.com/@CREA_ACI/videos

National Statistics: Canadian Home Sales Showing Signs of Stabilization in June:

https://creastats.crea.ca/en-CA/

Canadian Real Estate Agents Slash Their Sales Outlook as Gains Slow:

https://www.bloomberg.com/news/articles/2023-07-14/gains-in-canada-home-sales-slow-as-property-group-lowers-outlook

Bank of Canada raises rate to 5%: What we learned about inflation and the economy:

https://www.thestar.com/business/2023/07/12/bank-of-canada-raises-rate-to-5-what-we-learned-about-inflation-and-the-economy.html

Rate hike to squeeze homeowners, put pressure on house prices:

https://financialpost.com/real-estate/mortgages/bank-of-canada-rate-hike-housing-market-impact-more-mortgage-pain

Inflation rises again, to new 39-year high of 8.1%:

https://www.cbc.ca/news/business/canada-inflation-rate-1.6526060

CREA - News Releases & Statements:

https://www.crea.ca/media-hub/news/

Bank of Canada pushes key rate to 5% — doesn’t rule out future interest rate hikes:

https://www.thestar.com/business/2023/07/12/will-canadians-face-another-rate-hike-wednesday-bank-of-canada-decision-expected-at-10-am.html

What the Bank of Canada's 'conditional pause' on rate hikes means:

https://financialpost.com/news/economy/what-bank-of-canada-conditional-pause-rate-hikes-means

Bank of Canada raises interest rates, says it will take a 'conditional' pause:

https://www.theglobeandmail.com/business/video-bank-of-canada-raises-interest-rates-says-it-will-take-a-conditional/

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