Market Outlook: Canada home prices fall to nearly five-year low in January
BNN Bloomberg
Canada home prices fell to a nearly five-year low in January as sales dropped and new listings rose, according to CREA data.
BNN Bloomberg spoke with Shaun Cathcart, senior economist at the Canadian Real Estate Association, who said heavy snowfall in parts of Ontario weighed on transactions and added that a potential return of first-time buyers later this year could help stabilize conditions.
Read the full transcript below:
ROGER: In January, the benchmark home price fell to its lowest level in almost five years, according to a new report from the Canadian Real Estate Association. Here to break it down is Shaun Cathcart, senior economist at CREA. Shaun, thanks very much for joining us.
SHAUN: Hi, Roger.
ROGER: Another troubling report, I guess. Are we near the bottom, or is there still more room?
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