CREA downgrades home sales forecast for the third time this year

The Canadian Real Estate Association has downgraded its forecast for home sales activity in 2026 for the third straight quarter.CREA now expects a total of 444,530 homes to be sold by the end of this year, representing a 5.2% decrease from 2025.That’s down from its July forecast of a 1.4% year-over-year decline, which marked a reversal from its April forecast of a 1% gain. The association had predicted 5.1% growth year-over-year in January.CREA also projects the national average home price