‘Long road ahead’ in Canada’s housing market recovery: RBC report

Canada's housing market showed a modest recovery with a 0.5% rise in home resales in June, extending a three-month increase but slowing from previous gains. Home sales in 2026 are forecasted to decline by 1.4%, with average prices expected to rise 1.1% to $686,710. Inventories are stabilizing in Ontario and B.C., easing seller competition. Regional trends vary, with some areas seeing price appreciation while others remain below last year's levels. Buyer hesitation due to economic uncertainty and affordability challenges persists.