{"id":198662,"date":"2025-10-08T20:54:20","date_gmt":"2025-10-08T20:54:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/198662\/"},"modified":"2025-10-08T20:54:20","modified_gmt":"2025-10-08T20:54:20","slug":"canadas-fall-housing-market-is-off-to-low-key-start-rbc-report-shows-national","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/198662\/","title":{"rendered":"Canada\u2019s fall housing market is off to \u2018low-key\u2019 start, RBC report shows – National"},"content":{"rendered":"

Canada\u2019s fall housing<\/a>\u00a0sales saw an \u201cuneven and fragile\u201d market in September, a new report from the Royal Bank of Canada shows.<\/p>\n

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September data from local real estate<\/a> boards showed a \u201clow-key start to the fall for Canada\u2019s housing market,\u201d the report said.<\/p>\n

While some major markets \u2014 Winnipeg, Regina, and Toronto \u2014 saw home resales go up from August to September, most markets remained tepid.<\/p>\n

Vancouver, Calgary, Edmonton, Saskatoon, Hamilton, Ottawa, Montreal and Halifax saw slight declines, \u201csuggesting the recovery is still uneven and fragile,\u201d RBC economist Robert Hogue said in the report.<\/p>\n

Buyers felt little urgency to purchase homes in September, handing them more power in negotiations.<\/p>\n

\u201cIn Ontario, British Columbia, and parts of Alberta, expanded inventory levels are providing buyers with wider selection and stronger negotiating positions,\u201d the report said.<\/p>\n

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Many are expecting prices to drop further, allowing them to take a \u201cwait-and-see\u201d approach.<\/p>\n

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Toronto is seeing \u201cdecades-high\u201d inventory, which is leading to a decline in the value of homes. For the 10th time in 11 months, the average home price in Toronto fell, settling at $971,500 in September.<\/p>\n

Compared to the peak of the housing market in early 2022, this is a 25 per cent decline in home values \u2014 or a drop of $320,000 in the average home price.<\/p>\n

The drop in home values has encouraged buyers in Canada\u2019s largest city, the report shows. While compared to August, home resales rose only two per cent, there has been a 22 per cent increase in home resales over the last four months.<\/p>\n

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However, the recent drop in home prices has only partially managed to reverse the massive surge in prices after the COVID-19 pandemic.<\/p>\n

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\u201cThe road ahead is likely to be bumpy,\u201d Hogue said in the report.<\/p>\n

Vancouver also saw rising inventory and declining home values, but it continues to remain Canada\u2019s least affordable housing market.<\/p>\n

The average home price in Vancouver was around $1.14 million in September, down 3.2 per cent ($38,000) from a year ago and more than nine per cent ($118,000) since the peak of the spring of 2022.<\/p>\n

The uneven and divergent regional real estate trends will continue into winter and even into early 2026, however, a recovery may be on the horizon, the report said.<\/p>\n

\u201cWe anticipate a more robust recovery will gradually emerge as economic momentum builds, and employment conditions stabilize,\u201d Hogue said.<\/p>\n

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\n\t\t&copy 2025 Global News, a division of Corus Entertainment Inc.\t<\/p>\n","protected":false},"excerpt":{"rendered":"Canada\u2019s fall housing\u00a0sales saw an \u201cuneven and fragile\u201d market in September, a new report from the Royal Bank…\n","protected":false},"author":2,"featured_media":198663,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,63,99,2065,6016,164,11522,171,1003],"class_list":{"0":"post-198662","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-canada","12":"tag-consumer","13":"tag-economy","14":"tag-home-prices","15":"tag-markets","16":"tag-real-estate"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/198662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=198662"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/198662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/198663"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=198662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=198662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=198662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}