One of Canada’s largest real estate brokerages is bullish on real estate this year, just not condos. Royal LePage released its annual price forecast showing slower, but still big, price growth in 2021. There was one notable exception – condo apartments. They expect prices to rise, but they also expect them to lag the market. […]
Canada’s markets have been flooded with cheap money, causing a buying frenzy across the country. Canadian Real Estate Association (CREA) data shows record real estate sales in November. Unlike previous boom-time periods, the rise in home sales wasn’t confined to a few hot markets. All but two major cities across the country are seeing double […]
One of Canada’s largest real estate brokerages sees big price growth, just not in the country’s biggest city. Royal LePage released its forecast for Canadian real estate prices in 2021. They note the pandemic has accelerated a relocation pattern that started before the pandemic. Consequently, while price growth is optimistic, cities like Toronto are barely […]
Canadian seniors are still withdrawing home equity at a brisk pace over the past few months. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt hit a new record in October. Growth of reverse mortgage debt picked up from previous months as well. However, it’s still growing at a slower than […]
A Big Six bank thinks Canadian real estate prices will move slower in recovery than in recession. CIBC’s risk models show they anticipate a lower rate of home price growth over the next year. Even though they see things slowing down, they generally don’t expect prices to fall. Only in a worst case scenario do […]
Canada’s mortgage delinquencies are flat, but that story is much more interesting by region. Canada Mortgage and Housing Corporation (CMHC) data shows mortgage delinquencies are flat in Q3 2020. It’s a little different looking at the biggest real estate markets though. In Toronto and Vancouver, delinquencies are still rising to multi-year highs. Montreal is performing […]
Most Canadian households saw their net-worth grow last year, but some have begun to see it roll back. Statistics Canada (Stat Can) data published this week, shows the median household net-worth grew in 2019. The growth was much slower than observed in the previous data release though. This was led by a decline in net-worth […]
B.C. real estate is picking up again, but it’s generally lagging the general market – especially in Vancouver. Canadian Real Estate Association (CREA) data shows all significant markets saw a bump in November. Despite strong monthly gains, the province is generally underperforming the rest of Canada. Greater Vancouver Real Estate Is Still Negative From 3-Years […]
Greater Toronto is far from Ontario’s hottest market, as everyone scrambles to buy… uh, rural property? Canadian Real Estate Association (CREA) data shows every market in Ontario is seeing massive price growth in November. This trend isn’t being driven by major cities like Toronto or Ottawa. Instead, small commuter suburbs and cottage country are what’s […]
Canadian real estate is back on its way to becoming more unaffordable. RBC Economics’ latest report shows affordability got worse in Q3 2020. Temporary government transfers had improved the measure when observed in aggregate. However, as those transfers are gradually reduced, affordability is once again deteriorating. This isn’t a big city thing either. All major […]
