Canada’s real estate market eases back into balance after summer slowdown

by Carolyn Ireland

Multiple for-sale and sold real estate signs in Mississauga, Ont., on May 24. Changing conditions have brought supply and demand back into balance after tightening surprisingly quickly in the spring, say experts.

The Bank of Canada’s back-to-back interest rate hikes put a damper on the housing market rebound this summer, with sales edging down in July for the first time in six months.

Royal Bank of Canada economists Robert Hogue and Rachel Battaglia say extremely hot weather and massive forest fires may have held back activity in some regions as well.

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