Canada’s central bank doesn’t see the country’s real estate slump ending soon. Bank of Canada (BoC) shared its expectations for housing in its latest Monetary Policy Report (MPR). The central bank expects falling home sales to find a bottom in the near future. However, it won’t be enough to stop housing from dragging the economy, […]
Canadians are bracing themselves for the impact of higher interest rates. This morning, the Bank of Canada (BoC) announced another hike to the overnight rate. The central bank justified the move by citing a strong economy and excess demand. Even with the strength, they plan to hit pause “conditionally” on any higher moves to assess […]
Canadian real estate’s slowdown is finally beginning to show up in new home prices. Statistics Canada (Stat Can) published the December update to its New Housing Price Index (NHPI). The data shows prices stalled and annual growth made its ninth consecutive deceleration. However, the biggest takeaway was the release—with the agency forecasting price growth without […]
Canadian markets have begun discussing rate cuts, and that’s a reason we might not see one this year. BMO Capital Markets wrote to investors over the weekend, outlining their expectations for a rate hike this week. Their forecast currently sees the Bank of Canada (BoC) hitting pause after the next hike, but they warn it […]
Canadian mortgage credit continues to slow as rising rates grind the market to a halt. Bank of Canada (BoC) data shows outstanding residential mortgage credit rose in November. However, it was one of the slowest months we’ve seen since 2020. Annual growth remains robust, but recent activity is bringing the trend lower. Canadian Mortgage Debt […]
Canada’s largest bank sees a bottom to sales, but thinks there’s more pain for home prices—at least near-term. That’s the take from RBC, that feels home prices are stabilizing but will fall further. Don’t expect a quick recovery either, with affordability challenges weighing down future sales. Canadian Real Estate Sales May Have Found A Floor […]
Despite Canada’s booming labor market, households see a bleak year ahead. Bank of Canada (BoC) conducted its quarterly Survey of Consumer Expectations for Q4 2022. The results show households expect inflation to continue ripping higher over the next year. At the same time, the outlook for their own wages have eroded. The combination has led […]
Canadian real estate prices are falling and fast—in fact, a drop of this size hasn’t been seen since in over a decade.
Expectations from Canada’s largest real estate bulls are crashing. The Canadian Real Estate Association (CREA), the organization that oversees Realtors, released its latest quarterly forecast for home prices in 2023. Most markets are now forecast to see home prices contract this year, but that’s not the biggest takeaway. Expectations from the industry rapidly collapsed as […]
