Yet another Canadian financial institution thinks real estate is worse than we think. Desjardins made a sharp downward revision to its forecast for Canadian real estate prices. The revision comes after fundamentals eroded faster than expected, already hitting their previous forecast price drop. By the end of next year, they see the average home price […]
The Greater Toronto rollercoaster might be giving detached sellers that sinking feeling. Toronto Regional Real Estate Board (TRREB) data shows detached prices fell in July. The benchmark for single-family units fell by tens of thousands in the month. Some markets even saw prices fall over $100,000 in the 31 day period — yikes. But it’s […]
Canada’s largest bank might be its largest real estate bear after last month’s sales. This week RBC explained to investors that a Canadian real estate correction is here. Following downward revisions to the bank’s forecast, key markets reported further erosion. They see the correction spreading wider, and may be the deepest in half a century. […]
Canadian real estate markets are fully in a downturn and things are going to get worse before they get better. This week, Canada’s two major real estate markets reported falling home prices and sales for July. It comes as more households expect home prices to fall than rise, which hasn’t been the case in a […]
Greater Toronto real estate is proving the old adage — risk happens fast. Toronto Regional Real Estate Board (TRREB) data shows the price of a typical home fell sharply in July. It was the fourth consecutive drop, coming in large enough to roll back all of 2022’s gains. Experts see the market experiencing challenges in […]
Greater Vancouver real estate continued its rut, like most of the country’s markets. Real Estate Board of Greater Vancouver (REBGV) data shows the price of a typical home fell in July. It was the third consecutive drop, coming in just a hair below the record. Despite the recent downturn, prices are still much higher than […]
Canadian mortgage debt has been soaring, and it’s entirely due to uninsured borrowing. Bank of Canada (BoC) data shows mortgage debt was still rising in May, despite falling home sales. Drilling down into the numbers reveals it was entirely uninsured mortgage growth. The insured segment, with smaller down payments and often first-time buyers, is falling. […]
Higher Canadian mortgage rates will reduce disposable income, but the reduction is much smaller than the current rate of inflation.
Canadian variable rate mortgage costs are rising, but National Bank of Canada doesn’t see the “trigger rate” being hit.
Toronto real estate is suddenly so cold zero new single-family homes sold in June, but inventory has yet to bounce.
