Monthly Housing Market Update

The Canadian housing market has calmed down considerably this summer, taking some of the heat off property values across many parts of the country.

Home resales continued to transition toward more normal levels in July, after reaching extreme—and clearly unsustainable—levels earlier this year.

While bidding wars are reportedly attracting fewer participants in some parts of the country, competition between Canadian home buyers remains fierce.

Strong competition between home buyers is keeping intense upward pressure on property values.

Despite easing in the past three months, demand-supply conditions in the housing market remain tight, sustaining intense upward price pressure.

Another month brings another record high for home resales in Canada's housing market.

Rising home prices have led to an increased sense of urgency among Canadian homebuyers—fearing they might miss out on buying a home they can afford.

Buyers were out in force—again—in January, driving up home resales to yet another record-high level in Canada.

RBC sees little that will stop activity or prices in Canadian housing market from reaching new highs in 2021.

There continues to be few signs Canada's housing market is about to pause or even slow down in a material way.

Anyone looking for a turning point in Canada's housing market will need to keep watching as October was a carbon copy of September.

After the summer saw record highs in home resales, September could be a turning point with the first drop in new listings.