Canadians have been begging for housing costs to have a greater influence on inflation. They’re going to finally get what they’ve been asking for… but it’s going to work against them. The consumer price index (CPI) basket weights got an update from Statistics Canada (Stat Can). One of the biggest changes to the index is […]
Canadian real estate markets are losing some steam after its record year. Canadian Real Estate Association (CREA) data shows just over half of markets saw price growth slow in June. Looking more closely at recent numbers reveals this trend is about to become more common. All but a few markets are currently on track for […]
You’re not alone if you aren’t buying the “inflation is transitory” narrative. BMO Capital Market senior economist Robert Kavcic unpacked price change sentiment data. Small business owners see the cost of goods rising a lot over the next year. In fact, prices are expected to rise the most in at least a decade, by a […]
American home sales broke their losing streak last month, with sales finally climbing. National Association of Realtors (NAR) data shows existing-home sales jumped in June. The increase breaks the declining trend over the past 4 months, which has seen sales slip lower. At the same time, inventory climbed even more quickly than sales. Inevitably this […]
The whole world might be in a property bubble, but Canada is the second riskiest. That’s the take from Oxford Economics in their latest housing report this morning. Adam Slater, the firm’s lead economist, broke down fundamentals for global markets. He found double-digit overvaluations are widely seen these days. The firm believes a correction is […]
Global real estate prices are growing at the fastest rate ever, but it’s nothing like in Canada. US Federal Reserve data shows annual home price growth for advanced economies hit a record in the first quarter of 2021. So did Canada. The difference is Canada’s record growth is more than 3x as large as other […]
Canadian real estate has been experiencing a bit of a lull, and the new home market is no exception. Statistics Canada (Stat Can) data shows new home prices saw annual growth hit a multi-year high in June. The high was due to momentum though, as price growth had been decelerating more recently. Growth appears to […]
Canadian mortgage credit must be seen as too cheap to pass on, since everyone is borrowing. Bank of Canada (BoC) data shows the outstanding mortgage credit for May grew at the fastest rate in over a decade. The balance is also likely to climb at an even faster rate as well, despite the backdrop of […]
Canadian real estate inventory is improving, relieving pressure on home prices. We took a dive through the June sales to new listings ratio (SNLR) from CREA. While it helped to explain why price growth is slowing, we got a few emails asking if it was really due to falling sales. Or is inventory rising to […]
Canadian real estate just got another data point to show how lofty recent home price gains have been. Statistics Canada (Stat Can) released the median after-tax income of households in 2019. The data confirms what many suspected — home prices grew much faster than incomes. A lot faster. About Today’s Data Today we’re going to […]
