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Canadian home sales saw their largest decline since last June as increased interest rates have begun to cool the country’s sizzling housing market.

The Canadian real estate market is undoubtedly in a precarious state – and households will now be devoid of CMHC’s guidance.

For the third consecutive month, new listings in the Fraser Valley continued to climb in March giving buyers more to choose from, helping to increase overall active inventory to levels not seen since last July.

The Bank of Canada is expected to bolster its defence against inflation. BMO Capital Markets’ latest forecast shows aggressive rate increases.

According to Oxford Economics, one of the world’s most respected voices on economic forecasts, Canadian real estate prices are in for quite the dip.

With month-to-month new listing increases across several major real estate markets, it appears that the country’s inventory issue is slowly improving.

Increased interest rates will make it more difficult for Canadians to pay down their debt, but tightened policy was necessary to help slow inflation.

Buyers of Fraser Valley real estate had significantly more inventory to choose from last month due to a record-breaking volume of new listings received for the month of February.

The City of Mission’s Forcemain Project reached an important milestone last week.

Canadian renters saw another year full of affordability concerns as rental prices increased, especially in Vancouver and Toronto.