Group 1: Market Trends - The Canadian housing market is returning to a "new normal" resembling the pre-COVID-19 environment, with increased supply and more available listings [1] - The Royal Bank of Canada (RBC) reports a 2.8% increase in national home sales in June, following a 3.5% rise in May, indicating a continued recovery [4] - The Greater Toronto Area has seen a significant rebound of 17.3% in sales since April, although the overall trend remains similar to May's sales figures [4] Group 2: Buyer Sentiment - Buyer confidence is gradually recovering as the "doomsday" mentality diminishes, leading to more buyers re-entering the market [3] - Despite high prices and unfavorable interest rates, mortgage brokers report increased activity among buyers [7] - There is a psychological barrier for some potential buyers, who are hesitant to act despite having the financial capability [10] Group 3: Long-term Outlook - RBC's outlook remains optimistic, expecting no further interest rate cuts in the near future, which could support long-term market stability [5] - The current market conditions are viewed as a turning point, with continued recovery anticipated unless significant negative trade news arises [6] - The expectation that interest rates will not return to the ultra-low levels seen during the pandemic is becoming more accepted among Canadians [10]