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 […]
Canadians with supersized mortgages are requesting payment relief at a much higher rate than across the border. Both the US and Canada worked with banks to offer mortgage payment deferrals since March. Both countries launched their programs and had a sharp initial uptake at the same time. The rate of US mortgage deferrals have since […]
Canadian real estate is seeing another demand side factor disappear – international students. Immigration, Refugees and Citizenship Canada (IRCC) data shows international student permit holders admitted, made a sharp decline in Q2 2020. The decline will continue into the fall, or drop further, as the government warns students may not be admitted due to the […]
Canadians have been using their homes as ATMs, but the pandemic is slowing the binge. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured with home equity fell in May. The rate of growth for loans secured with home equity has been dropping over the past few years. Personal […]
Investment in home building is falling across Canada, especially in its largest real estate markets. Statistics Canada (Stat Can) data shows residential building construction investment was down in May. This trend is strongest in markets like Toronto, Vancouver, and Montreal – where investment has dropped at a faster rate than the national average. Canadian Residential […]
Canada’s largest land registry and a Big Six Bank are starting to see a slowdown for Canadian real estate. The Teranet–National Bank House Price Index (TNB HPI) increased in June. National Bank economists warned this isn’t the bullish sign it appears to be. The index actually made the smallest increase for June in 17 years, […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Prices Grew Over 29x The Rate Of US Home Prices Canadian real estate prices have been growing at an unprecedented rate, especially in contrast to the US. The inflation adjusted price of a home in Canada is up […]
Canada’s largest real estate markets have seen a dramatic slowdown since the onset of the pandemic. Immigration, Refugees and Citizenship Canada (IRCC) data shows the number of permanent residents made a sharp decline in May. While Toronto and Vancouver can attribute this trend to the pandemic, it’s been a more long-term issue for Montreal. Toronto […]
Canadian real estate buyers haven’t been slowed down, and cheap cash may be fueling a new rally – at least for now. Canadian Real Estate Association (CREA) data shows the seasonally adjusted price of typical (benchmark) home, made big increases in June. The growth over the past 12 months has actually been so large, it […]
