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Canada's hot housing streak cools as prices, sales fall in March

Location
Vancouver, Toronto, Calgary
Publish Date
2022/04/28

The national avg price of a home ↓ 2% MoM to $796K in March. The drop was led by declines in markets such as the Greater Toronto Area and Calgary. However, we'll have to wait and see if this is the start of the market's long-awaited cooling. (CREA)With the BOC began raising rates in 2022, agents are already seeing a shift in buyer attitudes. Despite signs of slowing in some markets, home prices are forecasted to ↑ 15% by 2022.Economists do not expect the effects of the rate hikes to take hold until summer.

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Canada, Ottawa, Vancouver Island