The bank of mom and day may be undergoing an aggressive expansion. Teranet, Canada’s largest land registry operator, conducted an analysis on ownership in Ontario. First-time buyers scoring a place on their own is on the slide. Most aggressively taking its place, is buying with a second owner at least 20 years older. The firm […]
World’s largest bubble? Canadians aren’t buying it, but they are rushing to buy homes again. Canadian Real Estate Association (CREA) numbers show a massive jump in sales for July. The increase makes it the most July sales in years, with only 2 major markets showing declines. Canadian Real Estate Sales Rise Over 12% From Last […]
Vancouver’s detached real estate market made improvements, but it isn’t back to normal. Real Estate Board of Greater Vancouver (REBGV) numbers show sales made a huge climb in July. However, the double digit rise in sales still fell short of typical volumes for the month. As a result, the price of a typical detached home […]
Greater Toronto’s detached real estate market made big improvements last month. Toronto Real Estate Board (TREB) numbers show both prices and sales moved higher in July. While improved from last year, they haven’t returned to normal growth or volumes. Prices made a minimal move higher by the best performing measure, with suburbs doing best. Sales […]
Still wondering if Canadian real estate is running the economy? Just look at the latest job numbers. Statistics Canada (Stat Can) numbers show a small uptick in unemployment, with 24,000 jobs lost in July. However, the weakness didn’t impact the real estate and construction industries. Both sectors are now at an all-time high for jobs, […]
Canadian real estate developers are putting a lot of shovels in the ground. Canada Mortgage and Housing Corporation (CMHC) numbers show a large jump in the number of new homes starting construction. The rise is led by a big increase in Montreal and Vancouver. Toronto, which leads North America in active cranes, is starting to […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate CMHC: Toronto Real Estate “Highly” Vulnerable, Vancouver Stabilizing Warning signs exist for Canada’s real estate markets, but things are improving. The CMHC sees “moderate” vulnerabilities across Canada. Toronto held its rating of “high” vulnerability, due to overvaluation and overheating. Vancouver […]
A Canadian real estate bubble? Nah… as more and more three letter organizations declare Canada’s real estate prices unsustainable, Canada’s national housing agency thinks things are getting better. The Canada Mortgage and Housing Corporation (CMHC) latest report mentions improved fundamentals. The organization even went so far as to downgrade the risk in Greater Vancouver. About […]
Canada’s national statistics agency crunched numbers on the age and education of homeowners. Statistics Canada’s (Stat Can) latest study shows the rate of homeownership increased from 1999 to 2016. However, the increase in ownership is due almost entirely to aging demographics. The study also reveals that university educated households no longer have the highest rate […]
Canadian lenders are scrambling to reboot slowing credit growth, by lowering rates. Bank of Canada (BoC) numbers show the household effective interest rate made a decline on July 26. Rates are sinking this year, recently making the first 12-month decline in 2 years. Even though rates are lower, they are still higher than they were […]
