Canadian real estate buyers are starting to ghost sellers, after making offers. Marvin Alexander, president of Keller Williams Realty Centres, a Greater Toronto-based brokerage, notes an unusual uptick of buyers not delivering deposit cheques. He’s not alone. The broker is hearing similar stories from other brokerages across Greater Toronto, and suspects it might be a […]
Toronto condo rentals are seeing the most inventory in recent memory. Toronto Regional Real Estate Board (TRREB) data prepared by Toronto Realtor Daniel Foch shows rental inventory is still much higher than usual in September. Meanwhile absorption is failing to keep up, potentially explaining the abrupt rise of condos for sale. Toronto Condos For Rent […]
Canada’s robust population growth has been grinding to a halt during the pandemic. Statistics Canada (Stat Can) quarterly population estimate for Q3 2020 shows there is still a lot of growth. However, it’s a lot less robust than last year, and barely moved in the most recent quarter. In fact, the most recent quarter represented […]
Canadians love mortgage debt, and most households consider it low risk. However, they might love it a little too much. Mortgage debt has seen astronomical growth over the past couple of decades. This is often attributed to large economic growth, however the mortgage debt to GDP ratio shows that might be a fib. Canadian mortgage […]
Canadian mortgage debt is slowing in growth, after a surge at the beginning of the pandemic. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in August. At the beginning of the pandemic, the rate of growth had accelerated due to payment deferrals. Deferrals are beginning to expire now, sending growth […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Moody’s Doubles Down On Forecast Of Canadian Real Estate Prices Falling Soon One of the world’s largest credit rating agencies confirmed an early forecast of falling home prices in Canada. Moody’s had expected government measures would delay any impact to home […]
Whether Canadian real estate owners needed it or not, a lot took a break from paying their mortgages. Statistics Canada (Stat Can) data shows mortgage payments fell in Q2 2020, as many took deferrals. While lenders collected a lot less in payments, almost all of it was principal payments. Payments towards interest continued to rise, […]
One of the world’s largest credit rating agencies doubled down on its Canadian home price forecast. Moody’s Analytics sent clients its September update on Canadian real estate prices. The forecast reiterates they expect price declines to begin towards the end of this year. The report also names impacted cities this time, with Toronto expected to […]
Canadian real estate hasn’t been this busy in a long time, yet condo apartment prices are sliding. Canadian Real Estate Association (CREA) data shows condo apartment prices have fallen during the pandemic. While prices are still up in August, compared to last year – they generally peaked in April. Only three markets have been able […]
More Canadian real estate markets are seeing increased levels of vulnerability. Canada Mortgage and Housing Corporation (CMHC) released the September edition of the Housing Market Assessment (HMA). The assessment shows almost half of Canada’s major real estate markets have moderate levels of risk now. Many markets are also benefiting from government pandemic supports. That means […]
