“Has the Canadian real estate market adjusted to the higher cost of borrowing?” asked aHome sales rose 1.3 per cent in October from the month before, the first monthly gain since February. About 60 per cent of Canadian housing markets saw an increase, and new listings rose for the first time in four months, a possible sign, says Zoocasa, that buyers and sellers are sick of sitting on the sidelines and ready to get back in the market.
“While we continue to think an inflection point is some ways off, it does suggest most of the price correction is likely behind us — at least for Canada as a whole,” Hogue said. Even if the correction is in its late stages, that doesn’t mean the action is going to heat up again right away, cautioned Hogue — not with interest rates remaining high and about to get higher.
RBC is full of crap. Prices have much more to fall by spring when the overleverage and lack of buyers really start to take shape. Sellers in denial still. Prices will fall at least another 20% by April
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