- Prices up a seasonally adjusted 2.2% in June
- Prices up 2.6% non-seasonally adjusted -- fourth consecutive increase
- Index down 5.1% y/y
There's a line of thinking that the Bank of Canada made a big mistake in halting rate hikes just before the busy spring home-buying season. Tiff Macklem cited home prices as one of the reasons he hiked again this month.
The problem is, you can't hike your way out of a supply shortage.
