Canada's Home Prices Still on The Floor, Says BMO
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Canadian home prices fell again in February, influenced by severe weather and trade tensions with the U.S., according to BMO. The MLS benchmark price is down 15% from early 2022 and has remained stable over the past two years. While cities like Calgary and Montreal see record highs, Southern Ontario struggles with prices down over 20%. BMO cites three reasons for this: previous market overvaluation, population caps affecting demand, and trade-war impacts on the manufacturing sector.
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