Inflation climbs, home sales rise: what it all means for Canadian borrowers
As sales inch higher, is the national housing market recovering?
The national market received a quiet boost this week with the news that home sales increased for the fourth month in a row, a trend that Royal Bank of Canada (RBC) says could signal something of a turning point for the housing outlook even if the recovery still has some way to run.
Glowinsky also sees the news as a sign that the national market is well poised for a gradual turnaround. “From a housing standpoint seeing prices stabilize, in some cases increase, and seeing some more purchase activity, I think is overall positive news,” she said.
“And for those who’ve been sitting on the sidelines, now there’s maybe perhaps a greater willingness to enter [the market] – if you’re a first-time buyer with great credit, the relief on HST for a period of time may be spurring some incremental activity. There are some positive incentives that are helping.”
The prospect of a less turbulent trade relationship ahead between the US and Canada, meanwhile, is further good news for Glowinsky.
“Overall, if the trade noise turns out to be less noisy and the water’s calm, I think that will continue to spur more activity in the housing market,” she said.
