'Speculation is gone, investors are absent, and prices are holding flat': BMO's Kavcic

Starts are down 4% year-to-date as CMHC warns of continued weakness ahead

Canadian home sales fell in August for the first time since spring, as rising inflation risks and the renewed prospect of a Bank of Canada rate hike threatened to cut short a tentative housing market recovery, the Canadian Real Estate Association (CREA) reported.