Canada home sales rise
Resales of Canadian homes rose in November for the fourth straight month, the Canadian Real Estate Association said on Thursday, but it lowered its forecast for 2018 sales and prices because it expects stricter mortgage rules to dampen demand.
Separate data showed new home prices edged up by 0.1 percent in October, while Canadian household debt as a share of income hit a record high in the third quarter. This reinforced concerns that Canadians have taken on too much debt to get into the booming housing market.
Taken together, the three reports paint a picture of highly indebted households and a still-robust housing market that is expected to cool in 2018.
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