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Home Sales and Prices Should Find Their Bottom This Year

Calling a bottom in housing is notoriously difficult. That said, with our forecast tracking well, we’re retaining our near year-long call that Canadian home sales will bottom sometime in early 2023. The timing of the trough is consistent with the Bank of Canada’s tightening cycle, which we expect to culminate with one additional modest hike (25 bps) in January.


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