Canada’s Housing Market Starts to Strengthen After Rate Cut
- Benchmark home price rose for first time in 11 months
- Monthly sales increased for the first time since January
A "For Sale" sign in front of a home in Richmond Hill, Ontario.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Canada’s housing market picked up as anticipation builds for further interest-rate cuts from the Bank of Canada.
The benchmark home price climbed 0.1% in June from May to C$717,700 ($526,500), the first monthly increase since August 2023, according to data released Friday by the Canadian Real Estate Association. Home sales rose 3.7% from May, the first monthly gain since January, the data shows.