Buyers are playing waiting game as home prices, sales fall

RBC expects several more rate cuts needed to “unleash” pent-up demand that has built up in many housing markets over the past few years.

Buyers in Canada eased off in May, a sign that higher rates have affected demand, leading to sales and prices coming off slightly from April, a new report has found. RBC Economics Monthly Housing Update suggested a “spring-long stalemate between buyers and sellers stretched into May” as buyers “play the waiting game” for interest rates to come down. Read More