The numbers are in and, as one economist puts it, April was the cruellest month for the housing market.
Aside from Calgary and Edmonton, home sales in other major Canadian markets have sunk below their pre-pandemic levels, says Capital Economics. “April proved to be the cruellest month for the housing market, with the recent jump in mortgage rates causing large falls in sales across the country,” wrote senior Canada economist Stephen Brown.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: