Home Prices Dip in Canada as Buyers Await Lower Mortgage Rates
- Sales up slightly in March but remain below long-term average
- Traders see summer rate cuts from the Bank of Canada
A home for sale in Vancouver, British Columbia, Canada.
Photographer: Isabella Falsetti/BloombergThis article is for subscribers only.
Canadian home sales were basically flat and prices dipped in March, a sluggish beginning to a spring market that some analysts believe will pick up soon as the Bank of Canada moves closer to cutting interest rates.
The number of transactions nationally rose 0.5% in March on a seasonally adjusted basis after falling 3.1% in February, according to data released Friday by the Canadian Real Estate Association.