MONTHLY HOUSING MARKET UPDATE · February’s housing market’s vigour to fade as virus weighs on activity

中文标题

月度住房市场动态 · 二月份住房市场的活力将因病毒影响而减弱

RBC Economics08/27/2026updated 10/17/2026

Citable research brief

Core conclusion · Tlines extraction

RBC Economics reports that Canadian home resales surged 5.9% m/m in February 2020 to 546k annualized units, the strongest in over two years, but the COVID-19 pandemic is expected to cause a sharp but temporary decline in activity, with home prices likely to hold up in most markets due to tight demand-supply conditions, though Prairie prices may fall further.

Institution: RBC Economics
Published: 08/27/2026
Research topic: housing resales · Canada housing · home prices
Time horizon: 2020 · near-term

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.

Key numbers

February resale gain: 5.9% m/m
February resales level: 546,000 units annualized
New listings rise: 7.3% m/m
MLS HPI y/y change: 5.9%
Ottawa price growth: +14.5% y/y
Montreal price growth: +10.4% y/y
Toronto price growth: +10.2% y/y

Main 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.

Corresponding source evidence

We now expect home resales to plummet across the board in the coming weeks. In all likelihood, this will be a temporary hit with a rebound taking place later this year once the COVID-19 situation settles down—though the timing and magnitude of the rebound are highly uncertain at this point. · 2020
Despite it all, we expect property values to generally hold up. We believe the position strength—current tight demand-supply conditions in most major markets—will provide some cushion against a correction. · near-term
The plunge in global equity markets will hurt buyers who were counting on equity investments for their down payment. · near-term

Conditions / invalidation

Once the COVID-19 situation settles down.

Context: the conclusion is Tlines' automated extraction, not the institution's wording. Quoted evidence is publisher wording. Scope and date must travel with the conclusion.