The report from RBC Economics suggests that the Bank of Canada's interest rate hikes have had an impact on Canada's housing market, resulting in a decrease in home sales and a slowdown in the pace of price growth. However, the market is now more balanced between buyers and sellers, with the sales-to-new-listings ratio for Canada at 59%, indicating a market that is neither favoring buyers nor sellers. Ontario and British Columbia were the most affected provinces, with notable decreases in activity.
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