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Canada's Housing Market Rebounds
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Overview
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Canada's existing home sales surged by 8.7% in December, with a projected recovery in housing demand in 2024. Inflation expectations remain elevated, with wage gains and shelter costs expected to keep annual price increases at higher-than-normal levels in the short term. Canadian home sales rose in December, ending the year on an upbeat note after being affected by higher borrowing costs in 2023.
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How might the recovery in housing demand influence other sectors of the Canadian economy?
How might the surge in Canada's housing market impact the overall economy and consumer spending?
What strategies could the Bank of Canada employ to manage inflation expectations and stabilize the housing market?
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