Even before the Bank of Canada formalized its decision to pause interest rate changes on Wednesday – it all but telegraphed the move after a quarter-point hike in late January – some housing markets in the country were already showing signs of life following a pronounced downturn in 2022.
In Toronto, while home sales and prices alike were markedly down from a year earlier in February, both figures saw an uptick from January, according to the local real estate board.
Some real estate players have suggested the Canadian market has bottomed out and we’re about to see a spring resurgence. But others aren’t so sure.
Anne Gaviola reports on how the interest rate pause has impacted the market so far, and why experts don’t agree on what’s to come.
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