Canada’s sluggish home resale market is likely to stay that way for the rest of the year.

That is according to RBC’s latest market outlook.

One of Canada’s largest banks projects home resales will decline 3.5 per cent in Canada to 467,000 units this year, largely concentrated in B.C. and Ontario.

Home resales in B.C. are predicted to decrease by 4.6 per cent by the end of the year.

Forecasters had initially predicted a more active market and slightly higher prices, largely due to interest rate cuts. But the trade war with the U.S. appears to have disrupted what looked like a recovery of the demand for resales.

That trend is expected to look up.

Related: • B.C. housing supply way up amid economic uncertainty: real estate experts • Vancouver real estate prices decline, still highes

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