One of the driving forces behind Canadian real estate prices is on hold – immigration. Government of Canada (GoC) data shows the number of newly admitted permanent residents to Canada is still making sharp declines in June. The decline was mostly consistent around the country, except in BC and Quebec. The former is seeing a […]
Mortgage debt is one of the only economic indicators growing these days. Bank of Canada (BoC) data shows the outstanding balance of mortgage credit increased in June. While the balance is at a new high, the rate of growth has stalled. The most recent data shows a slower annual rate of growth, expected to cool […]
The unemployment shock from the pandemic is still working its way around the country. Government of Canada (GoC) data shows Canada Emergency Response Benefit (CERB), the unemployment benefit sparked by widespread workplace closures due to the pandemic, is seeing new applications slow in growth as of the week of August 2. The economy is starting […]
Greater Vancouver real estate was surprisingly busy for the middle of a pandemic. Real Estate Board of Greater Vancouver (REBGV) data shows sales ripped higher in July. The increase in sales was enough to push prices higher, but they remain below pre-pandemic levels. Greater Vancouver Real Estate Prices Just Below Pre-Pandemic Levels Greater Vancouver real […]
Greater Toronto real estate is seeing a big jump in sales, and it’s mostly people fleeing to the burbs. Toronto Regional Real Estate Board (TRREB) data shows it was the most sales for July in at least a decade. The increase in sales was primarily driven by a surge in the 905, where inventory is […]
Canadian real estate markets are seeing mortgage delinquencies fall… just not in Toronto or Vancouver. Equifax data crunched by the CMHC shows the national rate of delinquencies fell in Q1 2020. Breaking down the numbers, this trend is stronger in some real estate markets than others. Montreal for instance, is seeing their delinquency rates drop […]
Canadians were seeing credit defaults rise in almost every segment, before the pandemic. Equifax data obtained from the CMHC shows rising credit delinquencies in Q1 2020. The increase was most pronounced in auto and credit card loans. However, all segments but mortgages at a national level are climbing. HELOC Delinquencies Rise To Highest Level Since […]
Canadians felt the economic pinch of the pandemic almost immediately. Statistics Canada (Stat Can) data shows household net-worth made a big drop in Q1 2020. The decline, the largest since before the Great Recession, was big enough to wipe out almost a year of wealth gains. Household Net-Worth Household net-worth is the value of all […]
Canadian real estate buyers pay steep premiums to own, compared to their global peers. IMF research shows Canada’s house price-to-rent ratio, the difference between renting and buying, is one of the highest in the world. Owning a home in Canada more closely resembles ratios in countries like Latvia and Slovak Republic, than countries like the […]
The pandemic drove Greater Vancouver new home sales off a cliff, but things have improved… a little. MLA Canada, a Vancouver-based real estate firm specializing in condo pre-sales, observed an increase in absorption for June. Despite unusual market conditions and a bump from lows, absorption is the same rate as last year. Although the current […]
