Global News ~ August 2nd, 2025
With the Bank of Canada holding interest rates again, economists and real estate experts say the housing market’s “new normal” may be looking more and more like the “old normal” from before the COVID-19 pandemic.
“What we have now with more supply in the market, like more inventory, homes for sale, and this is what I would consider a little bit more — not everywhere in Canada — but generally speaking more return to the old normal before the pandemic,” said Robert Hogue, assistant chief economist at RBC.
“Actually, probably a lot more before the pandemic with a bit more time for buyers to make decisions.”
Much of the original hesitation from buyers waiting to enter the market in early 2025 was due to the uncertainty of looming and implemented tariffs by the U.S., Hogue said.
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