More data from Canada’s national statistics agency shows home builder costs are soaring. The Statistics Canada (Stat Can) residential construction cost index surged higher in Q1 2021. Since the issue is largely material related, the impact is across Canada. Cities like Toronto, with recent building booms, are seeing costs jump the most though. Canadian Home […]
Canadian real estate markets booked another hot month, but it may have marked the top. At least for market momentum. BMO senior economist Robert Kavcic says April may have been the peak for market momentum. Various factors are coming to a head that will lighten some pressure on the gas. Homes Sales Were Strong, Even […]
Canada’s hottest real estate markets for young adults are far outside of the city. That’s because saving the down payment to be in some cities, would take the majority of their adult lives. National Bank of Canada (NBC) found a sharp deterioration of affordability in Q1 2021. The median household now needs to save up […]
Greater Toronto real estate prices are seeing high growth accelerate even faster. Toronto Regional Real Estate Board (TRREB) data shows a new record high for home prices in April. Detached home prices are now up six-digits from last year. The big story is condo apartments though. The segment had been lagging the general market over […]
Another Big Six Canadian bank is warning inflation will be worse than people think. Not one, but two inflation research notes were published by BMO this week. Yeah, it’s only Tuesday. Chief economist Douglas Porter says there are many signs inflation will run hot. The bank warned, “if you’re not just a bit worried about […]
Greater Vancouver real estate prices are rising at an even faster past these days. Real Estate Board of Greater Vancouver (REBGV) data shows home prices hit a new record high in April. Home prices were already fast growing, but the annual rate went parabolic in February. This is shortly after a series of statements from […]
Canadian real estate development is on fire, only when it comes to homebuilding. Statistics Canada (Stat Can) building permit data shows a record value hit in March. Virtually all gains were due to residential building permits though. Commercial permits fell significantly though, as the pandemic weighs on business investment. Canadian Building Permits Reached A Record […]
Canada’s central bank made an unusual move last month — it discredited its own inflation position. National Bank of Canada (NBC) deputy chief economist Matthieu Arseneau is “puzzled” why. In his latest report, he questions why the Bank of Canada (BoC) thinks its preferred measures overstate inflation. The economist took a dive through the data […]
New home listings in Greater Toronto found a lot of deep-pocketed buyers in March. BILD GTA data shows new home sales had the second-biggest March in the past 20 years. People must really want a new home in Toronto, because prices jumped hundreds of thousands of dollars in just a year. Greater Toronto New Home […]
Falling mortgage interest rates didn’t give much relief to Canadian real estate buyers. Canada Mortgage and Housing Corporation (CMHC) data shows the average monthly payment for new mortgages increased in Q4 2020. The size of the increase isn’t all that important, so much as the fact it increased at all. Mortgage rates were cut by […]
