Canada’s housing market took a “small step” toward recovery last month, according to a RBC report, but a sustained rebound is yet to be seen. July’s Monthly Housing Market Update, published by RBC Economics, suggested that the Canadian real estate market remains in the midst of a modest recovery that “appears to be holding — albeit just barely.” “A 0.5% rise in home resales in June from May extended the winning streak to three months, but marks a sharp deceleration from the robust 5.5% advance the previous month,” RBC’s Robert Hogue wrote in the report. When seasonally adjusted and annualized, total transactions across Canada last month were 12 per cent below the 10-year average. …Regardless of regional trends, many prospective homebuyers across the country remain “hesitant” to enter the market, the report noted, with challenges such as weakened economic confidence, uncertain job prospects and affordability concerns top of mind.