Bank of Canada's interest rate cut did not increase homebuyer demand, as reported by Royal LePage.

Despite predictions, the Bank of Canada's quarter-point interest rate cut last month did not result in a surge of homebuyer demand, according to a Royal LePage report. The report shows demand still outpacing supply in the Prairies and Quebec, but Toronto and Vancouver experienced slower-than-usual activity this spring. Royal LePage CEO Phil Soper noted prices have remained high in Canada's largest markets.

July 11, 2024
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