Canada's housing market to see listings fall in first quarter, before rebounding: TD

A new report says Canada's housing market will see new listings fall in the first quarter before rebounding later in the year and then, slowing to a more modest growth pace in 2024.

The report from Rishi Sondhi, an economist with TD Economics says subdued sales and declining prices will result in listings falling in the first quarter of 2023.

Sondhi then sees listings increasing by seven per cent between the second and fourth quarter before slowing to a growth pace of about two per cent in 2024.

While he predicts some near-term weakness, he also sees rising demand keeping markets balanced and underpinning positive growth in home prices, particularly in the second half of this year.