Technical Analysis

Canadian house prices fall 1.6% in December

  • Prices down 7.5% y/y
  • Volume of sales +1.3% m/m vs -3.3% expected
  • Activity down 39.1% y/y

The Canadian housing market is in a tough spot and with the BOC set to hike again this month, it will get worse before it gets better.

“In 2022, we saw one of the biggest single-year shifts on record in Canadian housing activity, from record highs last winter to just below the 10-year average to end the year,” said Jill Oudil, Chair of CREA. “That said, the market’s adjustment to higher rates may be mostly in the rear-view mirror at this point. That could start to bring buyers back off the sidelines this spring.”

CAD is flat today.

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