CREA-Spring Forecast

Well, Spring is here, and with that comes the CREA Spring Forecast, which I must say is not so rosy. According to the Canadian Real Estate Association (CREA), the market this spring will remain flat at best, but is most likely to see a further drop in Home Sales and prices as we continue to grapple with the tariff impacts. According to the Canadian MLS, sales activity nationally declined 4.8% month-over-month in March 2024. Combining this with the downward trend in the previous three months, National Home Sales are down a total of 20% from November 2023. According to Shaun Cathcart, CREA's Senior Economist, Sales have fallen 9.3% year-over-year, reaching the lowest point for the month since 2009 on a non-seasonally adjusted basis.

Well, some may see this as problematic; I believe that for those in a Cash-Positive Position, there will be diamonds in the rough waiting to be discovered, especially if you convert some of your stock into Real Estate, as the Stock Market is in even more turmoil. Buying when others are selling is always a plan for wealth growth, but only if you are in a Positive Cash position to weather the storm.

Click on the link below to watch the latest CREA Video.

CREA APRIL HOUSING MARKET STATS