The Canadian Real Estate Association (CREA) has released its housing sales forecast for Canada in 2014. For 2013, the market remained stable - for the sixth year in a row, sales will be around 450,000 units for the year.
In 2014, this is expected to increase to 475,000 units, an increase of 3.7%. British Columbia is predicted to have the strongest increase in 2014, with a projected sales increase of 8.4%. The rest of the country is expected to have gains in the 2 to 4 percent range.
The average national house price is also expected to rise in 2014, by 2.5% to 391,100. Alberta is forecast to have the biggest rise in average price, with an increase of 3.4%.
Read the entire report online here.
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