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Brick layers work through freezing weather at a construction site in Peterborough, Ont., in December.
Brick layers work through freezing weather at a construction site in Peterborough, Ont., in December.
(FRED THORNHILL For The Globe and Mail)

Housing market looks set to chill in 2014

Is Canada’s housing market finally coming in for a soft landing – or is it just stuck in the snow?

That’s the key question following Canada Mortgage and Housing Corp.’s housing-starts report for January, which showed that construction starts of new homes fell to an annualized rate of 180,200 in January – the slowest pace in nine months, and below economists’ expectations. Since topping 200,000 last fall, sparking renewed concern about a Canadian housing bubble, housing starts have receded rapidly over the past three months.