CREA Updates Resale Housing Forecast

OTTAWA — June 15 2015 - The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service (MLS) Systems of Canadian real estate Boards and Associations for 2015 and 2016.
While oil prices have firmed up recently, they remain well down from where they were a year ago and their outlook remains uncertain. The extent to which lower oil prices will continue to weigh on the Canadian economy also remains uncertain. In the Prairie region, this is dampening consumer confidence and sidelining potential homebuyers.