CREA revises down 2026 home sales forecast again as September transactions fall 7.7% over same month last year

The Canadian Real Estate Association has again lowered its forecast for 2026 home sales, attributing the downward revision to a 7.7% drop in September sales compared to the previous year. This downturn is being driven by potential rate hikes from the Bank of Canada and rising fixed-rate mortgages, which are discouraging potential buyers. The shift in market activity underscores the ongoing challenges in the housing sector as economic factors continue to impact consumer confidence and purchasing power.