Canadian home sales remained flat in March with a slight increase in transactions and a decrease in benchmark home price.
Canadian home sales were flat in March, with a 0.5% increase in transactions nationally and a 0.3% drop in the benchmark home price to C$718,400 ($522,000). The housing market is expected to pick up as the Bank of Canada considers lowering interest rates and immigration significantly increases the country's population. Economists anticipate a central bank rate cut in June or July, which could boost housing demand and lead to a sustained recovery in home prices.
April 12, 2024
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