US EditionHome prices favour buyers in some Canadian markets, sellers in others: RBC
CANADA, JUL 12 – Canadian housing markets show diverging trends with a 5% average price drop in some areas and strong gains in others due to varying supply-demand and economic conditions, RBC says.
- Earlier this week, RBC economist Robert Hogue noted Canadian markets show diverging trends, with prices slumping in some cities and remaining strong in others.
- Trade war uncertainty prompted spring market corrections, with increased seller competition leading to price declines in major Canadian cities.
- Local real estate board statistics show modest June-to-May transaction gains, a 5.5% year-over-year drop in Toronto MLS HPI, and an 8.1% increase in home resales before slipping 2%.
- Prospective homebuyers in Toronto gain bargaining power amid surging listings, while high values persist in the Prairies, Quebec, and Atlantic regions due to tight supply-demand conditions.
- RBC economist Robert Hogue highlights ongoing regional divergence, with robust activity in the Prairies, declining prices in Vancouver, and Calgary’s soft landing, indicating a slow, uneven recovery across Canada.
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Home prices favour buyers in some Canadian markets, sellers in others: RBC
Prospective homebuyers can make their way into the market, as trade war uncertainty begins to ease with prices slumping in certain areas, however some cities across the country remain robust with strong prices, according to an RBC economist.
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Total News Sources4
Leaning Left1Leaning Right1Center2Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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