Canada’s four biggest housing markets show “early signs of softening demand”: RBC Economics
Is this the “great moderation”?
That’s a question that RBC Economics asked about the housing market following two rounds of interest rate hikes by the Bank of Canada.
Bank economist Carrie Freestone noted in a report that home sales are “softening” in major urban centres.
“All evidence points to the Bank of Canada’s rate tightening cycle starting to have an impact, as recent data released from Canada’s four largest housing markets show early signs of softening demand,” Freestone wrote.