Canada's existing home sales fell 0.7% YoY in August, the Canadian Real Estate Association said, reversing modest gains in the prior four months and leaving activity roughly unchanged since May. CREA senior economist Shaun Cathcart said the macro backdrop has shifted after the Bank of Canada warned of higher inflation risks and questioned the durability of recent growth. July GDP was flat and consumer inflation has sat at the upper bound of the BoC's 1–3% target range for two months. Cathcart wa

Canada's existing home sales fell 0.7% YoY in August, the Canadian Real Estate Association said, reversing modest gains in the prior four months and leaving activity roughly unchanged since May. CREA senior economist Shaun Cathcart said the macro backdrop has shifted after the Bank of Canada warned of higher inflation risks and questioned the durability of recent growth. July GDP was flat and consumer inflation has sat at the upper bound of the BoC's 1–3% target range for two months. Cathcart warned rising bond yields have pushed fixed mortgage rates higher, while markets are pricing BoC hikes this year that would lift variable mortgage costs—developments that should dampen prospects for further housing-market growth into 2027.