A
new report from the Royal Bank of Canada suggests that some Canadian real estate markets are showing signs of life after a slow year. According to local real estate boards, home resales picked up in several markets in May, including Toronto, Ottawa, Calgary, Edmonton, and others.

    The report attributes this uptick to the de-escalation of parts of the US trade war with Canada, which had been weighing on buyer confidence. However, experts caution that volatility has not disappeared entirely, and there are still risks to the market, particularly if job losses continue or interest rates are not cut dramatically.

    Toronto's real estate market, in particular, saw a significant increase in home resales, up 8.4% from April to May, although prices remain low, down 4.5% compared to last year. Calgary and Edmonton also experienced an increase in housing activity, with Calgary seeing an 8% rise in sales.

    Quebec markets have been bucking national trends, with median prices for single-family homes and condo apartments in Montreal up 8.6% and 4.3%, respectively, in May from a year ago. Other markets, such as the Prairies and some in Quebec, have also held up relatively well despite trade-induced anxiety.

    However, not all markets are experiencing an uptick. Sellers in other parts of Ontario and British Columbia are struggling, with buyers seeming to be in no hurry to make a purchase. In Vancouver, sellers are being forced to accept lower bids as prices continue to drift lower.

    Despite the improving conditions, experts advise that market conditions remain favorable for buyers this summer, with higher inventory, more choice, and better bargaining power. For sellers, however, it's essential to have realistic expectations and price their property accordingly, working with an agent who understands the local market and comparable sales.