Spring came early to Canada’s housing market.
Home sales rose for the second month in a row in January, up 3.7 per cent, after four straight months of decline. The latest gains brought sales back to where they were last summer.
“The upturn suggests that the sharp correction triggered by soaring interest rates has likely run its course,” said Robert Hogue, an economist with the Royal Bank of Canada.
Wondering why rents in Canada are breaking records? This chart offers a clue. In fact, @BMO chief economist Douglas Porter says there is “zero mystery.”
The pop. of people 20 to 29 years old has shot up 6.2% in a year.#vanre #internationalstudentshttps://t.co/UXoqB3EHT5 pic.twitter.com/05p9VAe5Cd— DouglasTodd (@DouglasTodd) February 23, 2024
