Saturday Oct 28th, 2023




TORONTO - A new report by TD Economics predicts Canadian home sales and average prices will fall over the coming months but pick up by the second quarter next year.

 hTe impact of higher interest rates continues to be felt, which will likely push sales and prices lower by 10 and five per cent, respectively, by the end of the first quarter of next year, compared with 2023 third-quarter levels.The subsequent recovery forecasted is based on an assumption the Bank of Canada will cut its key interest rate by next spring as unemployment rises and the core inflation rate inches lower toward the central bank's two per cent target.

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