A ‘foul mood’ in Vancouver, a ‘floor’ in Toronto, a ‘new normal’ in Ottawa: The state of Canadian housing [Toronto Globe and Mail (Ontario, Canada)]
Royal Bank Of Canada (RY)
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Source: Toronto Globe and Mail
A ‘foul mood’ in Vancouver, a ‘floor’ in Toronto, a ‘new normal’ in Ottawa: The state of Canadian housing Briefing highlights State of housing Reports from local real estate boards highlight the sharp differences in housing markets across Canada. From a “foul mood” in Vancouver and a “floor” in Toronto to a “new normal” in Ottawa. We won’t get the national picture until mid-May, but what we’ve seen so far this month shows what Royal Bank of Canada calls the “very contrasting paths” of some markets. Story continues below advertisement Starting in the west, Vancouver is in a deep slump that showed no sign of turning around with the April numbers, The Globe and Mail’s Brent Jang reports. “The Real Estate Board of Greater Vancouver’s April market report released last week showed a persistent imbalance between demand and supply - giving buyers substantial swaying power over prices,” said RBC senior economist Robert Hogue. “The benchmark price fell deeper with the pace of decline barely
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