These real estate markets might be showing signs of life, report suggests – National [Video]

After a slow year for real estate in Canada, with some experts describing the spring housing market as “dead on arrival,” a new report suggests some markets are showing signs of life.

A report by the Royal Bank of Canada released Monday said local real estate boards have indicated that home resales picked up in some Canadian markets in May.

This was largely due to de-escalation of parts of the U.S. trade war on Canada, the report said.

“The de-escalation of tariffs has taken centre stage since May, alleviating some of the worst fears about the potential economic fallout even though recent doubling of steel and aluminum tariffs increases risks in some communities. We expect to get a clearer view in the coming months,” RBC economist Robert Hogue said in the report.

Penelope Graham, mortgage expert at Ratehub.ca, said tariffs have affected buyer confidence but “cracks of hope” have begun to emerge.

“From a short-term perspective, sales activity has started to …