The Canada Mortgage and Housing Association has expressed concern that homes here remain more expensive than those south of the border.

The agency says that it suggests an over-valued Canadian market and it wants to find out why the situation persists.

While chief executive Evan Siddall described the housing market as “robust” a month ago CMHC is mindful of the possibility of a sharp correction and the impact that would have especially given Canadians’ high levels of household debt.

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