The Globe and Mail reports in its Friday, Dec. 15, edition that Canada's housing market slowed further in November. The Globe's Rachelle Younglai writes that the number of resale transactions fell 0.9 per cent from October to November, the fifth straight month of declines, according to the Canadian Real Estate Association. The home price index was $735,500 in November. That was 1.1 per cent lower than October, and the third consecutive month of decreases. Compared with November, 2022, the national home price index was 0.7 per cent higher. Since the Bank of Canada's back-to-back interest-rate hikes in the summer, activity slowed after a brief rebound in the spring when the central bank had said it would take a break from raising interest rates. "Typically when the market gets spooked mid-year things tend to shut down until the next spring," said CREA economist Shaun Cathcart. Even though the BOC has kept the benchmark interest rate at 5 per cent for the past three rate announcements, the central bank continues to say it is prepared to raise them "further if needed." That has created uncertainty for potential buyers who do not want to make a purchase without knowing the direction of interest rates.