One of the things about the trade war that is shaping up across North America is how its tentacles extend well beyond industries we tend to associate with trade.
Some sectors, such as manufacturing, have seen a spike in activity as buyers on both sides of the border try to get as much done as possible before all the tariffs are fully implemented. But others that are more distant from day-to-day import-export activity are also feeling it.
The latest to show the impact is residential real estate.
Figures for January show a softening of activity, particularly in regions where trade with the US represents a bigger piece of the economy. Home sales fell 30-percent in Toronto in January. Listings dropped 25-percent.
Yet, here in Saskatchewan, we were at the other end of the spectrum. RBC Royal Bank calls Saskatchewan’s residential market quite robust with prices rising as demand outpaces supply and sales activity continues to significantly surpass pre-pandemic levels in January. And February showed even more vitality.
