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Home sales likely to fall in Canada in 2013, says real estate association

Posted on 21 December 2012

The Canadian Real Estate Association (CREA) has updated its forecast for home sales as demand slows and predicts a 2% fall in transactions in 2013 but a 0.3% rise in prices. When CREA’s last resale housing forecast was published in September, activity showed the first signs of slowing in the wake of new mortgage lending regulations.
It said that demand has remained at lower levels, and this trend is expected to persist in coming months, adding that lower than projected third quarter sales have downgraded the prospects for activity this year in almost every province………………………………………..Full Article: Source


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