Montreal Real Estate Data Boosts Canadian REIT ETF
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Montreal's housing market defied expectations with a 10.2% year-over-year sales increase in May, pushing the iShares S&P/TSX Capped REIT Index ETF (XRE) marginally higher during Monday trading. The Quebec Professional Association of Real Estate Brokers reported 4,992 transactions—marking the third consecutive month of growth—as median prices for single-family homes ROSE 8.7% to $625,000.
This resilience contrasts with broader concerns about Canadian real estate debt, particularly in Quebec where market fundamentals appear stronger than anticipated. Condominiums and multiplex units followed the upward trend, with plex prices climbing 5.1% to $825,000, suggesting sustained demand across housing segments.
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