- Home resales fell 5.8% in Canada between November and December, reversing part of the 16% increase over the previous four months.
- We don’t read too much into one month’s volatility and see the recovery continuing in 2025.
- We expect lower borrowing costs will draw both new buyers and sellers to the market and sustain growth in resale transactions.
- Property values haven’t budged much over the course of 2024 nationwide, and this remained the case in December.
- However, home prices are hotter in the Prairies, Quebec and parts of Atlantic Canada.
Based on RBC.com/economics
| Robert Hogue, Assistant Chief Economist, Royal Bank of Canada |