Sales momentum was also better than expected heading into the third quarter. As a result, the 2011 national forecasts for sales activity and average price have been raised.
National sales activity is forecast to reach 450,800 units in 2011, up less than 1% from levels in but CREA had previously forecast a decline of about 1% for activity in 2011. Erosion in affordability due to higher prices has prompted a small downward revision to the outlook for sales in 2012.
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