Canadian Housing Recovery Stalls in September as Higher Rates, Trade Tensions Weigh on Demand, RBC Says
MT newswire2026/10/07 16:2512:25 PM EDT, 10/07/2026 (MT Newswires) -- Canada's housing recovery lost momentum in September as rising trade tensions with the United States and higher long-term interest rates kept buyers on the sidelines, according to RBC Economics. Most major real estate boards reported declines in home resales, including Vancouver, the Fraser Valley, Calgary, Edmonton, Winnipeg, Hamilton, Kitchener-Waterloo, Toronto, Ottawa, Montreal and Quebec City, RBC said in a Tuesday note. Regional housing trends remain varied, driven by differences in affordability, consumer confidence, pent-up demand, demographics, employment and inventory levels, said the bank. The effects of interest rates and immigration policy also differ across markets. Improving affordability and a resilient economy should unlock pent-up demand and support a "mild" recovery, but housing markets are likely to remain uneven across Canada, added RBC.
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