CREB 2023 Market Forecast - Summary
1. Elevated lendng rates are expected to weigh on sales throughout 2023;
2. Sales will still be above pre-pandemic levels;
3. In-mirigration and employment growth will offset the higher lending rates;
4. Price growth is expected to be flat overall for 2023. With perhaps, lower prices for the upper end properties and higher prices for the lower price point properties.
As always please contact me for any specific questions that you may have!
I trust that you are having a wonderful January!