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CREA Reports Drop in Home Sales

Sales in January were at the lowest point since 2009

The Canadian Real Estate Association says home sales last month were the lowest since 2009. 

Compared with a year ago, sales were down by over 37 percent. 

Home sales tumbled last year as rising mortgage rates increased the cost of borrowing. 

The average price of a home in Canada is just over $612,000. 

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