Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Correction May Be Over As Prices Rip Higher Canada’s real estate correction has seen prices begin to head the other way. A benchmark, or typical home, jumped 1.7% (+$12,300) to $727,700 in March. It was the second consecutive increase […]
Just a few weeks ago, we pondered if Canada’s real estate correction would pause with an influx of cheap credit and government-led stimulus measures. Canadian Real Estate Association (CREA) data released this morning confirmed it, with the benchmark home price rising significantly in March. Asset prices never move in a straight line, so it’s too […]
How unaffordable is Canadian real estate? It’s reached the point that mayors of major cities can’t afford to buy a home in their own city at today’s prices. Not much sympathy from a typical household that makes significantly less. However, it should trigger more questions around how they’re dealing with housing. Are policymakers really that […]
The global economy is past the point of being able to avoid a sharp recession, warns the watchdog of the global financial system. The IMF World Economic Outlook was released this week, forecasting that global real gross domestic product (GDP) will slow sharply in 2023. A hard landing is now expected, with advanced economies likely […]
There was a Toronto real estate slowdown? Hard to notice with busy construction sites blanketing the city. The latest RLB Crane Index, tracking 14 key North American cities, shows crane use grew in Q1 2023. Toronto remains the reigning king of cranes, with almost 5x more than the next city on the list. North American […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Owners Aren’t Selling, Here’s Why Canadian real estate markets are seeing a drop in sales, but it’s the inventory drop that’s concerning. That was the warning BMO Capital Markets sent to investors this week. The reason? A lack of […]
Canada’s busy Spring market hasn’t begun with the typical flood of sellers. BMO Capital Markets warned investors a lack of new listings for sale might be a bigger problem than low sales. They attribute this to a number of factors, but they all boil down to one issue—there’s little reason to sell. Canada is hitting […]
Greater Vancouver real estate prices barely corrected, but they’re already back to climbing. Real Estate Board of Greater Vancouver (REBGV) data shows the price of a composite benchmark home climbed in March. It was actually a huge jump in price, but at least one of the Big Six banks sees it being just a blip, […]
Are Greater Toronto real estate prices past the bottom? Toronto Regional Real Estate Board (TRREB) data shows the composite benchmark, or typical home, saw prices surge higher in March. Home sales remain weak despite the pop, and experts don’t see that changing in the near term. However, buyers in the market sent prices much higher […]
Canadian real estate development got a mild sentiment boost, but it’s not what it seems. Statistics Canada (Stat Can) data shows the value of building permits increased in February, which it called “robust.” When looked at as just a monthly plot, it’s easy to see how that call can be made. Zooming out for a […]
