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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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Bank of Canada Warns of Tepid Growth and Fragile Job Market Before Rate Call

                                                    Bank of Canada Governor Tiff Macklem 


Bank of Canada Governor Tiff Macklem signaled that Canada’s economy is set for only modest growth in the months ahead, while the labor market shows signs of strain. Speaking in Washington ahead of the central bank’s next interest rate decision, Macklem described the outlook as “soft,” citing weak business investment, sluggish exports, and uncertainty in hiring trends.

Recent data showed the economy contracted at an annualized pace of 1.6% in the second quarter, largely due to falling exports. While some rebound is expected in the latter half of the year, Macklem cautioned that growth will likely hover near 1%—below the economy’s potential.

On jobs, Macklem noted that despite a gain of more than 60,000 positions in September, the labor market remains fragile, with unemployment rising to 7.1% from 6.6% earlier this year. He characterized the employment picture as “volatile,” underscoring the challenges facing households and businesses.

The Bank of Canada has already cut its benchmark rate to 2.5% in September to counter slowing momentum. Policymakers now face a delicate balance: supporting growth without reigniting inflationary pressures.

As Macklem put it, restoring productivity and competitiveness will be key to lifting incomes and sustaining long-term prosperity.


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