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Home Sales Dip Amid Price Surge
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Canada's Housing and Inflation Dynamics
February Home Prices Surge
February Sees Record Home Price Surge
Overview
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The spring homebuying season witnessed a sluggish start in March 2024, marked by a 4.3% decline in existing home sales despite a surge in supply. Home prices surged to a record high of $393,500, rising 4.8% year-over-year. Rising mortgage rates are cited as a primary factor contributing to the sales slowdown.
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How might the trend of rising home prices impact the affordability of housing for prospective buyers?
In what ways could the Federal Reserve's policies affect the dynamics of the housing market in response to the sales slowdown?
What strategies could home sellers employ to navigate the challenges posed by the sluggish start to the spring homebuying season?
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