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Canada's Housing Market 'Entering Bear Territory': BMO

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With another interest rate hike likely on the way next month, further cooling of the housing market is expected, likely pushing it further into bear territory. realestate realestatenews housingmarket housing bearmarket

11:44 AM Aug 25, 2022

In a message sent out to clients, Porter underscored how quickly Canada’s housing market has fallen since its February peak, thanks to an aggressive rate hike schedule from the Bank of Canada. Not only have home prices fallen for five consecutive months, hitting a new national average of $629,971 in July, but sales have plummeted too.

 

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