On this episode of The Real Pulse, Robert Hogue, RBC’s Assistant Chief Economist, sits down with Nurit Altman, Managing Director, RBC Capital Markets Real Estate Group, to discuss how higher interest rates are expected to trigger a 12-13% price decline nationally over the next year, with some markets witnessing an even more significant correction.

Listen Now

In this episode:

The Canadian housing market’s pandemic price rally is finally in retreat. Policymakers’ focus on addressing supply-side challenges has also raised the prospect of improved affordability over the longer term in some markets. But renters can expect to see prices drive higher, as many disappointed would-be homeowners’ bide their time and pile into the already tight rental market.

Robert Hogue is a member of the Macroeconomic and Regional Analysis Group, with RBC Economics. He is responsible for providing analysis and forecasts for the Canadian housing market and for the provincial economies. His publications include Housing Trends and Affordability, Provincial Outlook and provincial budget commentaries.

This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.