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Canada's Housing Recovery Remains Uneven as Regional Gaps Widen, RBC Says

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Canada's housing market remained sharply divided along regional lines in August, RBC Economics wrote.

Toronto's recovery paused as trade uncertainty intensified, while Ottawa gained momentum and prices edged above year-ago levels, the bank said in a Tuesday note. British Columbia remained the weakest market, though Vancouver sales rebounded and price declines moderated.

RBC expects the uneven recovery to persist through year-end as trade risks, affordability, population growth and supply dynamics continue to diverge across regions.

Condo prices remained under pressure, while detached homes proved more resilient.

Elevated inventory and soft demand continue to leave regional housing markets on divergent trajectories, added the bank.

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