Financial Wire

BMO Continues To See Major Regional Variation In Canada's Housing Market

-- The "full suite" of resale housing market data in Canada is now out, noted Bank of Montreal (BMO).

Home sales were effectively flat month to month in seasonally adjusted terms in March, or still down 2.3% from a year ago, noted the bank after the Canadian Real Estate Association (CREA) released data on Thursday.

BMO also noted the benchmark price was down 4.7% year over year, "with little sign of momentum changing yet".

BMO continues to see some major regional variation, with markets in the Prairies, Quebec and Atlantic Canada holding firm, even while much of British Columbia and Ontario are effectively in a housing recession.

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