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Canada's housing market 'finally' moving toward recovery this year: RBC
RBC forecast sales will rise 6.7% to 483,600 units next year, but says regional corrections and trade risks could slow the rebound.
- RBC Economics released a report yesterday indicating Canada's housing market is "finally taking steps" toward recovery, signaling a potential turnaround after prolonged declines.
- Robert Hogue, an assistant chief economist at RBC, noted the turnaround arrived too late to prevent countrywide declines in home resales and prices this year across Canada.
- Hogue anticipates sales will grow 6.7 per cent to 483,600 units next year, while benchmark home values are projected to rise 0.8 per cent to $800,700.
- The recovery process will likely be uneven, with prolonged market corrections in Ontario continuing to have lasting effects on sentiment across regions.
- Hogue warns that recent escalations in an international trade war and ongoing conflict in the Middle East could suppress consumer confidence and undermine the projected recovery.
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Winnipeg Free Press+9 Reposted by 9 other sources
Canada's housing market 'finally' moving toward recovery this year: RBC
A new report from RBC Economics says Canada's housing market appears to be
·Winnipeg, Canada
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Total News Sources12
Leaning Left5Leaning Right0Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 45%
C 55%
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