Upsizing buyers drove demand in Canada’s housing market this spring, new report says

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Buyers looking to upsize their homes drove the surge of housing activity between interest rate hikes in the first half of the year, according to a new report from Re/Max Canada.

The housing correction across most markets hit its “trough” in January, according to Re/Max President Christopher Alexander, as the Bank of Canada paused its interest rate hike cycle before resuming again in June and July.

That period of stability “opened the floodgates” for buyers, he said.

Alyssa Julie reports.

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Category: News and politics
Tags: global news, real estate, Canada real estate

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