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Canada Housing Watch (Feb.)

The unseasonably warm start to 2023 provided little support to the housing market or construction, with sales and prices falling further in January while housing starts slumped to a 28-month low. As prices have already fallen by 15% and the downward pressure shows no sign of abating, the risks to our forecast for a peak-to-trough decline of 20% are tilted to the downside.   

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