Easy come, easy go. Greater Toronto real estate prices have been booming, but are suddenly changing course. Toronto Regional Real Estate Board (TRREB) data shows prices pulled back in April. Home sales plummeted much faster than inventory, easing the pressure driving prices higher. Greater Toronto homes went from rising tens of thousands per month to […]
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Greater Vancouver real estate is adjusting to a world with higher rates very quickly. Real Estate Board of Greater Vancouver (REBGV) data shows home sales fell sharply in April. They even fell faster than inventory, actually releasing pressure on prices to rise. Home prices are seeing growth decelerate fast as the region enters a “balanced […]
Greater Toronto real estate is doing some soul searching after soaring mortgage costs. Data from Altus Group and developer-group BILD GTA show new home sales cratered in March. Demand dropped across segments, but so did inventory. Despite scarce inventory, single-family home prices still saw the benchmark price drop. Toronto Single-Family Home Prices Slip, But Condos […]
Canadians are doing something uncharacteristic — they’ve slowed borrowing mortgage debt. Bank of Canada (BoC) data shows a big slowdown in new funds advanced for residential mortgages for February. A small seasonal monthly climb was present, but even so it was an oddly slow month. The past couple months look more like the slowdown of […]
North America’s busiest construction hole is seeing work grind to a halt this week. LiUNA Union Local 183‘s residential construction members voted to strike last night. The local represents a significant share of Greater Toronto’s residential tradespeople. As cost of living talks broke down, the union’s members entered a legal strike position. North America’s Largest […]
Ontario real estate has grown so fast, the rest of Canada’s housing bubble looks tame. Canadian Real Estate Association (CREA) data shows major markets saw prices rise at least 60% since 2020. Some housing markets have even seen prices more than double in just over two years. Ontario’s Top Real Estate Markets Have Seen Prices […]
From transitory to forcefully, Canada’s central bank now believes it must act aggressively to tackle high inflation. Bank of Canada (BoC) Governor Tiff Macklem acknowledged some mistakes interpreting inflation. Speaking to lawmakers, he explained they are working to correct the issue. Canada’s economy has recovered and moved into excess demand, allowing them to pursue higher […]
Canadians know the real estate market is growing fast but how unusually fast it’s moving may not be clear. Data from US Federal Reserve researchers might help with that. The numbers show Canadian home prices increased at a rate at least 50% faster than any other G7 country in Q4 2021. The issue isn’t just […]
It’s hard to believe, but Canada’s epic real estate boom might be ending. That was the ominous warning from Desjardins, one of the country’s large financial institutions. They see higher mortgage rates cooling demand significantly in the coming months. The market is forecast to cool so much they see real estate prices falling towards “real […]
