CREA expects record home sales this year as market remains strong


The Canadian Real Estate Association is predicting home sales will be so strong they'll reach record highs this year, before starting to cool in 2022.

The association said Monday that it expects nearly 702,000 properties to change hands through Canadian MLS systems this year, up from the 551,262 recorded in 2020, while sales for 2022 are expected total 614,000.

CREA believes the national average home price will rise by 16.5 per cent on an annual basis to just over $665,000 in 2021 and $679,341 in 2022.

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