Canadian home prices are so giant, just the down payment is now prohibitively large. Data from mortgage tech firm LowestRates.ca shows the average down payment by province. Building on their proprietary data, they estimate the amount used as a down payment to buy. The firm found BC has the largest average of any province, coming […]
Oil prices are soaring with other commodities, and it can lend a big boost to Calgary real estate. Maybe. That’s the take from BMO senior economist Douglas Porter, in his latest Capital Markets’ research note. Calgary real estate prices recently started climbing, but still lag national price growth. Historically the region underperformed during periods where […]
Canadian home sales are sliding lower across the country, and new homes aren’t immune to the dive. The absorption of newly-built and priced homes slipped in April, according to the CMHC. The good news is the most popular purchase price range for new homes is lower than you think it is. The bad news is, […]
Canadians have no problem borrowing money, they just won’t do it for anything but a house. Bank of Canada (BoC) data shows household credit reached a new record high in April. The rate of growth was the fastest seen in nearly half a decade. Canadian housing mania has few people spending on anything but a […]
One of Canada’s top economists found the latest employment numbers “odd.” BMO chief economist Douglas Porter’s latest research note looked at employment data. Statistics Canada (Stat Can) data shows April payrolls rising, but employment falling. The agency attributed these conflicting trends to a lag in payroll, which they say is typical. Porter pulled the receipts […]
Canada’s largest bank sees the real estate market cooling down soon, especially for new homes. RBC Economics has forecast a sharp decline in new housing starts. The “Big Six” bank expects new building to slow down in the second quarter of this year, and taper into Q3 2022. This will result in a sharp fall […]
A large Canadian financial institution sees housing investment moderating soon. Desjardins has forecast residential investment will begin tapering in the second quarter of this year. They also see negative growth next year, as other segments of the economy start to draw in some dollars. Canadian Residential Investment Grew 43% Residential investment has seen obscene growth […]
The US new home market is cooling to pre-pandemic levels of activity, except price growth. US Census data shows new home sales for May came in at the lowest level this past year. Falling sales have helped to lighten the pressure on inventory. The only thing that looks nothing like last year is price growth. […]
Canadian Job Vacancies Hits A New Record, As 600,000 Positions Sit Empty Canada has hundreds of thousands of unfilled jobs, despite elevated unemployment levels. BMO weighed in on the vacancy numbers, which jumped to an all-time high in Q1 2021. Robert Kavcic, the bank’s senior economist, estimates vacancies are now the size of 2.5% of […]
US home buyers are taking a breather, as prices reach dizzying heights. Dizzying for the US, that is. National Association of Realtors (NAR) data shows existing-home sales fell in May. Higher prices have trimmed demand for several months now. The market is now beginning to head towards its pre-pandemic levels of activity. US Home Sales […]
