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GTA & Vancouver Home Sales Fell Again in August — What RBC's "Recovery" Call Actually Means for You

  September 6, 2026  •  Canadian Money Brief Fresh numbers out this week from the Toronto Regional Real Estate Board (TRREB) and Greater Vancouver Realtors (GVR) confirm what a lot of GTA and Metro Vancouver households already feel in their bones: the country's two biggest, most expensive housing markets are still shrinking on paper, even as the Bank of Canada holds rates and the trade war eats into everyone's confidence. At the same time, RBC Economics dropped a report calling this a market that's "finally taking steps" toward recovery. Those two things sound contradictory. They're not — but the gap between them is exactly where you need to be paying attention, whether you're a first-time buyer, a seller sitting on a listing, or a landlord watching your renewal math. What It Means for You: Prices are still down year-over-year in both cities, but the underlying supply picture — fewer new listings, tighter inventory — is the thing actually shifting. That...
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Canada’s Unemployment Rate Rises, Fueling Speculation of July Rate Cut

 

Canada’s unemployment rate has climbed for the third time in four months, reaching 6.2%. While the country added 26,700 jobs in May, the rising jobless rate has prompted economists to consider the possibility of a rate cut by the Bank of Canada. Here are the key points:

  1. Job Market Trends:

    • Canada’s labor market saw modest growth, but the unemployment rate edged up by 0.1 percentage point.
    • The unemployment rate has risen by 1.1 percentage points since April last year.
    • The involuntary part-time rate increased, signaling potential weakness in the economy.

  2. Bank of Canada’s Stance:

    • Governor Tiff Macklem hinted at further rate cuts if inflation progress continues.
    • The central bank is “not close” to the limit of divergence from the Federal Reserve.
    • Markets have priced in about a 58% chance of another rate cut next month.

  3. Economic Outlook:

    • While there’s evidence supporting lower interest rates, the economy hasn’t plummeted.
    • Expect a gradual pace of interest rate reductions this year, with cuts likely at alternate meetings.

In summary, Canada’s rising unemployment rate has put pressure on the Bank of Canada to consider a rate cut in July. Economists are closely monitoring the situation, and the decision will have implications for the Canadian dollar and bond yields. Stay tuned for further updates as the economic landscape evolves.


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