Housing Market Update
Updated: July 23, 2024
Rate Cut Helps June Resale Market
Canadian resale transactions rose in June after four straight monthly declines. The gain was aided by the Bank of Canada’s recent interest rate cut, although the trimming was small. Chances of further interest relief should prompt modest buyer optimism and nudge sales higher in the second half of 2025. These are foreshadowed by easing bond yields, which they often lead to falling fixed mortgage rates.
July 23, 2024 • 8-min read
About the Housing Market Update
The Housing Market Update describes current monthly resale and construction information for two dozen Canadian urban centres. It presents the factors underpinning housing demand, including interest rates, demographics, and incomes. Importantly, the report scales housing activity by a market’s size, enabling “like-for-like” comparisons, and presents data in interactive and easy-to-read charts. Real estate brokers and agents, home builders, housing policy experts, and general economic observers will find this report helpful.
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