CREA downgrades sales forecast as interest rates weigh on buyers - BNN Bloomberg

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CREA slashes home sales forecast for this year and next in wake of interest rate hikesBank of Canada interest rate hikes are injecting new uncertainty into the housing market, says Canadian Real Estate Association. Read on
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Interest rate hikes weighing on cottage market, where prices are expected to slideTORONTO — When the warm weather hits, Arthur Parks usually sees up to 10 referrals from Toronto real estate agents with clients feeling the allure of lakeside living as the summer heats up. 'This year, I haven't received any,' said the real estate agent serving Peterborough and the Kawarthas, two of Ontario's most popular recreational markets. 'That's a dramatic difference. It tells me that people are not actually out there looking to buy cottages.' That dampened demand has come amid a successio
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