Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Bank Of Canada Pumping Billions Into Mortgage Liquidity To Prop Up Real Estate Canada’s central bank has pumped billions into the mortgage market, in attempt to prop it up. As of July 22, the Bank of Canada held $7.95 billion in […]
Canadian real estate buyers pay steep premiums to own, compared to their global peers. IMF research shows Canada’s house price-to-rent ratio, the difference between renting and buying, is one of the highest in the world. Owning a home in Canada more closely resembles ratios in countries like Latvia and Slovak Republic, than countries like the […]
The pandemic drove Greater Vancouver new home sales off a cliff, but things have improved… a little. MLA Canada, a Vancouver-based real estate firm specializing in condo pre-sales, observed an increase in absorption for June. Despite unusual market conditions and a bump from lows, absorption is the same rate as last year. Although the current […]
Canadian real estate buyers were excitedly disregarding risk before the pandemic hit. The US Federal Reserve Bank of Dallas (Dallas Reserve) exuberance index shows expectations surged in Q1 2020. The index is designed to capture explosive price growth, detached from fundamentals. A single quarter isn’t enough to say the market is bound for further detachment, […]
Greater Toronto new home buyers are holding back, especially when it comes to condo apartments. Altus Group data shows prices increased in June, with new condos hitting a all-time high. The price increase was driven by low demand though, as sales almost completely halted. Fewer than one in five new homes were sold last month, […]
British Columbia is running out of first-time buyers, despite falling prices. Government of British Columbia filings show first-time homebuyers made a small increase in June, compared to the month before. However, this increase wasn’t big enough to reach last year’s levels. The province continues the multi-year trend of declining first-time homebuyers. B.C. First-Time Homebuyers Drop […]
Canada’s central bank is desperately trying to prop up real estate markets with liquidity. Bank of Canada (BoC) has been injecting billions into Canada Mortgage Bonds (CMBs). The central bank began purchasing a few million worth of bonds during last year’s real estate slow down. As the pandemic hit, the BoC began buying hundreds of […]
A lot of Greater Vancouver condo owners all had the same idea – last month was the perfect month to sell. Real Estate Board of Greater Vancouver (REBGV) data shows June saw the largest single-month surge of new condo apartment listings in at least half a decade. While sales did also rise from last year’s […]
Toronto real estate is seeing sales bounce, just not in the condo market. Toronto Regional Real Estate Board (TRREB) data shows condo apartment sales had the weakest June in over a decade. This led to prices falling from peak, as inventory went in another direction – hitting the highest level in almost four years. Greater […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadians Are Deferring Mortgage Payments At 2x The Rate Of Americans Canadians are taking advantage of mortgage payment deferrals at a much higher rate than Americans. Canadian banks have about 16% of mortgages on payment deferral, a steady climb since the […]
