Economic headwinds and weaker homebuyer sentiment are keeping the Canadian real estate market stuck in neutral this summer.

As concerns over the economy persist, Canadian home prices slouched by 3% in June, according to the latest reading of the RPS-Wahi House Price Index.

With this year’s spring housing market coming to an end, the RPS-Wahi House Price Index in May registered similar declines to previous months.

Nearly half of Canada’s biggest housing markets are seeing downward price adjustments.

Nearly half of Canada’s biggest housing markets are seeing downward price adjustments.

Ottawa has become the fifth major Canadian housing market to see home prices decline on a year-over-year basis.