CREA sounds a cautious note in revamped sales forecast

OTTAWA — The Canadian Real Estate Association announced it has updated its retail housing market forecast for 2018 and 2019. National home sales are projected to post a double-digit decline in 2018, falling to the lowest level in five years despite supportive population and job growth. In 2019, home sales activity and prices are expected to be held in check by recent policy changes from different levels of government, in addition to additional interest rate increases.