A TD Economics report predicts a surge in housing demand in Canada as potential homebuyers await further reductions in mortgage rates. Many buyers have been sidelined due to high costs but are expected to enter the market as interest rates fall and new federal mortgage rules take effect in December. The report forecasts an 8% increase in home resales in early 2025, with Alberta leading in price and sales growth. Ontario and British Columbia are also expected to see significant sales increases. Prices are projected to rise nearly 3% in early 2025.
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