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The Canadian housing market has been in a state of flux in recent years, with prices fluctuating in response to a variety of factors, including economic conditions, interest rates, and government policies. As we look ahead to the first quarter of 2023, it's difficult to predict exactly what the future holds for home prices in Canada. However, by examining current trends and factors that are likely to affect the market, we can make some educated guesses about what to expect.

One of the biggest factors that will likely affect home prices in the first quarter of 2023 is the ongoing impact of the COVID-19 pandemic. The pandemic has caused widespread economic disruption, leading to job losses and reduced income for many Canadians. This has made it more difficult for many people to afford to buy a home, which could lead to a slowdown in demand for housing and a corresponding drop in home prices.

Another factor to consider is interest rates. The Bank of Canada has kept interest rates at historic...

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