GCM Exchange Canada

Canadians looking ahead to 2025 with a positive outlook on the housing market, prompted by a series of interest rate cuts in the latter part of 2024. Brokers and agents expecting a more active market next year, with the national average residential price likely to increase by five per cent, and sales anticipated to rise in 33 out of 37 regions surveyed, with sales increases of up to 25 per cent.

The Bank of Canada cut its key interest rate by 0.5%, bringing it to 3.25%. This the fifth straight rate cut since June. However, the central bank hinted at a less aggressive rate reduction pace going forward.