RBC Economics published a recent study showing sales declined across Canada for the seventh straight month, and have fallen 36 per cent since February, with Alberta among the provinces seeing the largest declines in activity in September.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
The study also noted that Calgary is the only major city currently still favouring buyers with a sales-to-new-listing ratio of 72 per cent. Prices are also dropping across the country, down about nine per cent from February with smaller markets in Ontario seeing the largest declines, including Kitchener-Waterloo down 18 per cent.More increases from the Bank of Canada are expected in the coming months, eventually reaching “a restrictive” four per cent, the report forecast.