Greater Toronto’s new home market took another hit as weak demand met falling-but-still-lofty prices. BILD GTA and Altus Group data show prices slipped in October—but not enough to draw buyers off the sidelines. Sales fell to a record low for the month, while inventory hovered near multi-year highs. The gap between what’s for sale and […]
The Great Canadian Real Estate Downturn isn’t easing—in fact, it’s accelerating beneath the surface. Canadian Bankers Association (CBA) data shows the mortgage arrears rate climbed again in August, hitting the highest in nearly four years. However, the more important issue is flying under the radar: an unprecedented contraction in total mortgage volumes at banks. A […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices Fall To 4-Year Low As Inventory Sets Record Canadian real estate prices continue to cool after the pandemic-era boom. A typical home fell to $679,900 in October, a 20.2% (-$171,700) drop from the March 2022 peak. The drop […]
Canadian retail sales are weaker but not as weak as anticipated. Statistics Canada (StatCan) retail sales fell in September, with the drop attributed to a single (but large) category. While retail sales are holding up stronger than the headline data suggests, the longer-term issue of stagnation remains. Canadian Retail Sales Flat Excluding Gas and Vehicles […]
Canadian consumer borrowing is suddenly accelerating, and home equity borrowing was no exception. Bank of Canada (BoC) data shows Home Equity Lines of Credit (HELOC) borrowing just saw the biggest September growth since 2009. The increase is part of a broader trend that’s pushed annual growth to the highest rate in nearly 13 years. What […]
Canada’s odd surge in housing starts disappeared as fast as it arrived. CMHC data shows starts plunged by nearly a fifth in October, led by weak condo demand. BMO Capital Markets told investors this was largely expected and unlikely to lift prices. Starts remain historically elevated, and a wave of record completions will hit the […]
Canadian households are borrowing as rates come down, but not in the way many anticipated. Statistics Canada (StatCan) data shows household debt made an unusually sharp climb in September. That growth wasn’t driven by mortgages—even though they make up the bulk of household credit. Even the mortgage growth that did occur likely reflects old commitments, […]
Canadian inflation may look cooler on paper, but you’re forgiven if you have a hard time seeing it in reality. Statistics Canada (StatCan) reported the headline Consumer Price Index (CPI) slowed in October, entirely due to falling gas prices. Excluding gas, inflation was unchanged—while core measures remained at the upper bound of the central bank’s […]
Canada’s housing rut continues as a wave of unprecedented seller activity hits the market. Canadian Real Estate Association (CREA) data shows the price of a typical home fell to a multi-year low in October. Despite lower interest rates and rising buyer incentives, sales fell short, reversing the progress made last year toward a recovery. Meanwhile, […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Investor Mortgage Crackdown Set For 2026, Delayed 3 Years Canada’s financial watchdog is finally moving its banks up to global risk standards after three years of delays. OSFI has told lenders to prepare to adopt the Basel III minimum output floor […]
