Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Bank Of Canada’s Mortgage Buying Is A Quarter The Size Of New Mortgage Credit Canada’s central bank kicked into action during the pandemic… by flooding the mortgage market with cheap cash. The central bank held $513 million worth of CMBs in […]
Canada’s real estate industry has seen a smaller impact than the general economy during the pandemic. Statistics Canada (Stat Can) data shows residential investment fell in Q2 2020. The drop was smaller than the one GDP made though, meaning the economic dependency on real estate grew. At least for the next few months. Residential Investment […]
Canada’s real estate markets have seen prices soar, but condos are getting left behind. Canadian Real Estate Association (CREA) data shows only five major markets saw condo prices hit a new peak in July. Over two-thirds of Canada’s major markets haven’t seen a peak since the beginning of the pandemic. Some markets last saw prices […]
Greater Vancouver new home sales are still unusually soft. MLA Canada data shows pre-sales for new homes fell in July. The decline slowed new inventory launches, with over half of expected units delayed. Even with the delays, there was a significant increase in new inventory. Only 31 Pre-Sale Homes Were Sold In July The number […]
Greater Toronto new home sales are on fire, everywhere but in the actual city. Data from Altus Group and BILD GTA shows new home sales had the biggest July in over a decade. Surprisingly, this trend is driven almost exclusively by suburban home sales. In the City of Toronto, new home sales have dropped by […]
Canada’s largest bank sees the immigration slump lasting a few years. RBC economists crunched the numbers, and saw a huge decline in the number of new permanent resident arrivals. In addition to the decline in arrivals, they also note a big drop in new applications. Since applications take months to process, the bank is seeing […]
Canada’s central bank is using billions to flood the mortgage market with cheap money. It hasn’t been very effective, considering the scale of the purchase. Bank of Canada (BoC) data shows a big mortgage bond buying spree since the beginning of the pandemic. The dollar value of the bond buying was known, but we’re only […]
Vancouver real estate has seen a big boost in buying activity, even condos. Real Estate Board of Greater Vancouver (REBGV) data shows sales jumped in July. The increase isn’t translating into the price gains seen in the general market though. This is due to the large number of new listings for condos, which hit the […]
Toronto real estate has seen pent up demand drive sales higher, but the impact on condos has been limited. Toronto Regional Real Estate Board (TRREB) data shows a fairly large uptick for condo sales in July. The increased sales volume has been met with sellers hitting the market at the fastest pace in at least […]
Canada’s largest real estate markets partially attribute fast climbing prices to immigration. However, with a significant decline in permanent residents, prices have yet to slow down. Government of Canada (GoC) data shows new permanent residents admitted to major markets dropped in June. The decline was most notable in Toronto and Montreal, where numbers are down […]
