Canada’s housing market is on the mend, but not in lockstep. Home resales are climbing nationwide, yet price trends continue to split along regional lines.
National resales rose for the third consecutive month in June. However, overall, prices remained lower, with national declines largely driven by weaker conditions in Ontario and British Columbia, according to Robert Hogue, assistant chief economist at RBC.
Hogue says regional differences in market performance have become more pronounced. Markets in the Prairies, Quebec and Atlantic Canada are experiencing tighter supply and demand conditions, while several areas in Ontario and B.C. are facing elevated inventory, affordability challenges and worsening job prospects.
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