Canada’s planned builder boom is turning into a bust. The Canadian Home Builders Association (CHBA) released the results of its Q2 2024 survey. They found that home builder sentiment remained negative for an 8th consecutive quarter. As a result of weak demand, most plan to significantly reduce the numbers of homes they build—by half on […]
Canada’s condo market has provided big returns for investors, but it’s currently running on fumes. Canadian Real Estate Association (CREA) data shows the price of a benchmark, or typical, condo apartment fell in July. The investor-dominated segment didn’t see prices fall nearly as much as the general market since rates began climbing. However, condos have […]
Canadian home buyers appear to have taken the summer off, ignoring the first round of central bank easing. Bank of Canada (BoC) data shows household mortgage credit advanced in June. Annual growth took a step back however, as rate cuts failed to stimulate new credit demand as much as anticipating those cuts previously had. Canadian […]
No news is good news, especially for real estate investors looking for markets to stabilize. BMO Capital Markets dived into existing home resale data, and found little movement in July. Inventory is outpacing sales but they believe stocks are largely just being replenished. Toronto condos are a notable exception, where they are starting to see […]
Vancouver real estate has fared well since the market slowed, but signs of stress are appearing. Equifax data shows Vancouver mortgage delinquencies climbed in Q1 2024. The delinquency rate remains relatively low, but it made a sharp turn and has already climbed back to pre-pandemic levels. Slow borrowing and sales still persist, meaning this trend […]
Last month Canadian real estate prices continued their path to a lighter future. Canadian Real Estate Association (CREA) data shows the price of a composite benchmark (typical) home fell in July. It marked half a year of slowing annual growth, as rate cuts fail to rejuvenate demand for homes at current prices. Home prices have […]
Canadian mortgage borrowers are experiencing a hiccup when it comes to payments. Equifax Canada data shows mortgage delinquencies climbed further in Q`1 2024. While the delinquency rate remains relatively low from a historical standpoint, the sharp climb made over the past few quarters may show it can change soon. Canadian Mortgage Delinquencies Are On The […]
One of Canada’s largest banks is finally willing to admit there’s a supply problem, but it’s not the one you think. BMO wrote to investors today, warning that Canada’s youth (15-24 years old) unemployment rate is surging much faster than anyone anticipated. The crisis-style growth has left 1 in 7 young adults struggling to find […]
Canadian real estate markets aren’t firming up with rate cuts—demand is softening. RBC is warning investors that early data shows rate cuts failed to stimulate major markets in July. In fact, they generally observed the opposite trend—sales continued to weaken while inventory climbed, as investors try to lighten their market exposure in key regions like […]
Canadian employment doesn’t look like it moved much, but under the surface was a giant shift. Statistics Canada (Stat Can) data shows the number of jobs virtually unchanged in July, growing 1.7% (+345k jobs) over the past year. As a result, the unemployment rate was also flat at 6.4%, adding 0.9 points from last year. […]
