RBC predicts housing market will be “buoyant” with regional diversity, 2016 will be slower

The housing market will continue to be “buoyant” throughout this year, but with “significant diversity” across regional markets. That’s the latest forecast from RBC Economics, which published its economic outlook yesterday. With accelerating growth in the economy in Ontario, B.C., Manitoba and Quebec, the report expects markets to benefit. However, in Alberta, Saskatchewan and parts of Atlantic Canada, it expects activity to weaken. Nationally the report calls for 1.7 per cent growth in resale sales and prices gaining by 3.4 per cent. RBC Economics is predicting resale activity in 2016 “to weaken across the board and prices to edge lower as increasing interest rates damage affordability".