Tausi Insider

A sold sign is seen outside a home in Ottawa in this file photo. Justin Tang/The Canadian Press Canada’s national real estate association is forecasting another year of housing market declines, after home prices sank for the 10th straight month in December and as households continue to struggle with higher borrowing costs. The home price index fell to $730,600 last month, a 1.6-per-cent drop from November and 13 per cent lower than the February peak. That marks the largest downward swing since the financial crisis of 2008 and 2009, when the index fell 9 per cent. It also tops the 7-per-cent slide in 2018, when the federal government toughened up mortgage qualifications. (The index excludes sales of extremely expensive homes and is the industry’s preferred measure of home prices.) Home resales increased from November to December but were still 39 per cent below the volume of activity of December, 2021, when the pandemic’s real estate boom was in full swing. The Canadian Real Estate As...

A sold sign is seen outside a home in Ottawa in this file photo. Justin Tang/The Canadian Press Canada’s national real estate association is forecasting another year of housing market declines, after home prices sank for the 10th straight month in December and as households continue to struggle with higher borrowing costs. The home price index fell to $730,600 last month, a 1.6-per-cent drop from November and 13 per cent lower than the February peak. That marks the largest downward swing since the financial crisis of 2008 and 2009, when the index fell 9 per cent. It also tops the 7-per-cent slide in 2018, when the federal government toughened up mortgage qualifications. (The index excludes sales of extremely expensive homes and is the industry’s preferred measure of home prices.) Home resales increased from November to December but were still 39 per cent below the volume of activity of December, 2021, when the pandemic’s real estate boom was in full swing. The Canadian Real Estate As...