Homebuyer FOMO Starts to Pump Up Canada’s Real Estate Market
- Lower rates helped spur more sales, higher prices in June
- ‘When the tide turns, and it will, it will turn fast’
An apartment building under construction in Hamilton, Ontario.
Photographer: Brett Gundlock/BloombergThis article is for subscribers only.
Canada’s interest-rate cut — the first among Group of Seven economies — has jump-started the country’s housing market.
Buyers and sellers are striking more deals, pushing the benchmark price for a home up in June for the first time in 11 months. Sales rose for the first time since January.