RBC Economics · 08/27/2026
MONTHLY HOUSING MARKET UPDATE · February’s housing market’s vigour to fade as virus weighs on activity
Official source ↗The report
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AI analysis
AI-generated from the report above · not a translation and not the institution's wording · verify against the official source
Key arguments
- February home resales surged 5.9% m/m to 546k annualized units, strongest in over two years.
- Demand-supply conditions remained tight despite a 7.3% m/m rise in new listings.
- MLS Home Price Index accelerated to 5.9% y/y from 4.6% in January.
- COVID-19 measures expected to bring house hunting to a virtual halt this spring.
- Home resales expected to plummet but rebound later in 2020, timing uncertain.
- Prices expected to hold up due to tight starting positions; Prairie prices may fall further.
Risks
- Global equity market plunge may hurt buyers relying on equity investments for down payments.
- Prolonged COVID-19 disruption could delay rebound.
- Crude oil price plunge may intensify price declines in Prairie markets.