Canada Housing: Prices Hit Bottom, But Recovery Could Be Years Away

2.5 years — That's how long RBC estimates it will take for Canadian home sales to return to their 10-year average levels at the current pace, a sobering timeline for anyone waiting for a market rebound.

Money Moves

• RBC: Housing recovery could be 2 years away — Home sales rose 0.5% in July for a fourth straight monthly gain, but volumes remain 12% below the 10-year average, making a swift bounceback unlikely.

• Benchmark price finally ticks up — The...