RBC Expects Canadian Real Estate Rates “Will Certainly Loss Modestly” in the Short-Term

Three months ago, when the COVID pandemic hit, it became less affordable to own a home in Canada, with rising housing costs in Ontario off-setting prices in the surrounding areas. However, a new report from RBC suggests that housing affordability in the country could improve in the months to come thanks to lower home prices and low-interest rates. Though, there is the risk of household income declining once government support programs end, which could partly offset gains in affordability. In the months leading up to the COVID pandemic, Canada’s housing market was heating up, alluding to a strong spring season in markets from coast to coast. However, as stay-at-home orders came into effect, sending some buyers and sellers to the sidelines, it became less affordable to own a home, and RBC economist Robert Hogue says the national aggregate affordability measure deteriorated, albeit just slightly, for a second-straight time in the first quarter of 2020

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RBC Expects Canadian Real Estate Rates “Will Certainly Loss Modestly” in the Short-Term

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RBC Expects Canadian Real Estate Rates “Will Certainly Loss Modestly” in the Short-Term

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