The Canadian Real Estate Association is projecting that housing prices and sales will rebound in 2024 after ending 2023 with a 4.8% decline in prices.

CREA says housing prices will rise next year by 4.7% and sales will rise by 13.9% to 561K units. The association projects that the average price of home will be $503K this year and $526K in 2024.

The group says home sales will dip 1.1% this year, with little change in month-over-month sales.

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