Canada's housing market remains stagnant with both buyers and sellers retreating, causing prices to slowly decline. Resales dropped 1.3% and new listings fell 3.9%, pushing the sales-to-new-listings ratio to 48%. The national home price index fell 0.6% monthly and 4.8% annually, with prices 20% below early-2022 peaks. Inventory is high, especially in Ontario and B.C., pressuring prices further. Some regions show price declines, while others still see modest gains. Renewals pose financial risks for homeowners amid a slow market.
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