{"id":11838,"date":"2026-06-12T14:27:04","date_gmt":"2026-06-12T14:27:04","guid":{"rendered":"https:\/\/www.rbc.com\/en\/economics\/?p=11838"},"modified":"2026-06-12T17:21:30","modified_gmt":"2026-06-12T17:21:30","slug":"real-estate-adds-to-household-wealth-for-the-first-time-in-a-year","status":"publish","type":"post","link":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/data-flashes\/real-estate-adds-to-household-wealth-for-the-first-time-in-a-year\/","title":{"rendered":"Real estate adds to Canadian household wealth for first time in a year"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h4 id=\"h-the-bottom-line\" class=\"wp-block-heading has-rbc-bright-blue-color has-text-color has-link-color wp-elements-c75936e627370431cdc0e4879696a373\">The Bottom Line:<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Canadian household balance sheets demonstrated steady resilience through the opening quarter of 2026. Household net worth rose 1.3% to $18.6 trillion supported by gains in both financial and non-financial assets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Real estate stabilization provided a welcome reversal after three consecutive quarters of decline, while equity gains remained positive despite experiencing the slowest quarterly growth in a year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The household savings rate fell marginally, consistent with expectations that Canadians would draw on savings to maintain consumption amid energy cost pressures. <a href=\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/rbc-consumer-spending-tracker\/q1-canadian-consumer-signals-energy-costs-bite-but-canadians-arent-cutting-back\/\" target=\"_blank\" data-dig-id=\"LP-CanadianAnalysis-DataFlashes-11838-d3aa60fd\" data-dig-category=\"LP-CanadianAnalysis-DataFlashes\" data-dig-action=\"link click\" data-dig-label=\"RBC cardholder spending\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">RBC cardholder spending<\/a> data preliminarily supports this hypothesis, though the full impact remains obscured by timing. Q2 data will offer a clearer picture as sustained energy price pressures and broader inflation are more fully reflected.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div id=\"everviz-zPPJ6mgop\" class=\"everviz-zPPJ6mgop\" data-view=\"graph\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<h4 id=\"h-the-details\" class=\"wp-block-heading has-rbc-bright-blue-color has-text-color has-link-color wp-elements-30f57298bbf8ead15134d747597f5622\">The details:<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-chevron-list mar-l-qtr mob-mar-l-qtr\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\">Housing market weakness that characterized 2025 showed signs of stabilization in Q1, as the CREA MLS Home Price Index (NSA) posted gains (+1.3% q\/q) following three consecutive quarters of declines. This reversal provides a welcome respite from the persistent drag on household wealth, though momentum remains fragile.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\">Financial assets advanced 1.3%, with the S&amp;P\/TSX Composite Index gaining 3.3% during the quarter. Energy stocks contributed disproportionately to returns as elevated commodity prices bolstered sector valuations following geopolitical tensions and the energy price surge in late February.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\">The household savings rate fell to 3.5% in Q1 2026 from 4.4% in Q4 2025 while currency and deposit growth moderated to 0.4% from 0.8% in the prior quarter. The modest savings drawdown aligns with expectations that households would tap savings to maintain consumption as energy prices climbed toward quarter-end. &nbsp;<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\">Household credit market debt expanded to $3.25 trillion at a measured 1.1% pace in Q1. Mortgage borrowing contributed the bulk of growth, though new originations remained restrained at $22.6 billion\u2014the slowest pace since Q1 2024. This was more than offset by growth in non-mortgage debt.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\">The debt service ratio ticked higher to 14.8% from 14.7%, as total debt payments rose to outpace income growth. The non-mortgage household debt service ratio continued to track well below pre-pandemic levels, providing additional flexibility for household borrowers.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>About the author:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><em><strong>Rachel Battaglia<\/strong><em>&nbsp;is an Economist at RBC, providing forecasts for the Canadian provincial economies and analyzing key trends in housing and consumer spending.<\/em><\/em><\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":318,"featured_media":3111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[83,93],"tags":[115,11,122],"rbc_econ_content_type":[],"class_list":["post-11838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canadian-analysis","category-data-flashes","tag-canada","tag-economy","tag-household"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Real estate adds to Canadian household wealth for first time in a year - RBC Economics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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