Greater Vancouver real estate is seeing softer demand for pre-sale units. Numbers from MLA Canada, a Vancouver-based real estate advisory firm, show more pre-sale units hit the market than expected in October. At the same time, same month absorption has continued a trend of declines. Greater Vancouver Pre-Sale Real Estate Sales Rise Over 31% The […]
Greater Toronto is seeing the fewest new real estate sales for October in over half a decade. Altus numbers, obtained from BILD, show sales made a huge nose dive in October. The sales decline resulted in higher inventory, and mixed price movements. Greater Toronto New Detached Prices Fall, While Condos Rise Greater Toronto is a […]
Montreal real estate is the hottest in Canada when it comes to price increases. Outpacing both Toronto and Montreal, there’s speculation it’s the next Canadian bubble. Turns out if you look at the long-term trend, this is pretty normal. During the Great Recession, Montreal real estate peaked after Toronto and Vancouver began tapering. Despite this, […]
Canadian seniors short on cash, but rich in property are drawing on home equity at an alarming rate. Bank filings with the Office of the Superintendent of Financial Institutions (OSFI) show September saw mid-double digit growth in reverse mortgage debt. The type of debt, which services seniors, is set to see continued growth well into […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Borrowing Rates Are Up 32% From All-Time Lows Hit 2 Years Ago Canadians are seeing the cost of borrowing rise quickly. The typical household loan now has an effective borrowing rate of 3.96% as of last Friday, up 3.39% […]
Canadians still have access to cheap credit, but it’s disappearing fast. Bank of Canada (BoC) numbers show the cost of borrowing is rapidly increasing as of last week. Over the past two years, a typical household loan has seen servicing costs rise by nearly a third. Effective Borrowing Rates The effective borrowing rate is the […]
Canadian’s withdrawing home equity can’t stop, won’t stop. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate hit a new record high in September. Despite fast rising interest rates, borrowing for HELOCs haven’t slowed down one bit. Loans Secured By Real Estate Loans secured by […]
Vancouver condo price growth is coming down. Real Estate Board of Greater Vancouver (REBGV) numbers show price growth continued deceleration in October. A huge drop in sales and a larger rise in inventory is relieving a lot of the pressure on prices to move higher. Greater Vancouver Condo Prices Are Up Over 5% Greater Vancouver […]
Toronto’s detached real estate prices are down a tenth from peak, but condos are still moving higher. Toronto Real Estate Board (TREB) numbers show condo sale prices reached a new all-time high in October. The high was the result of more sales and less inventory. Despite the tighter market, price gains continued to decelerate to […]
Canadian real estate prices are slowing in growth, but they made a wild run over the past few years. Canadian Real Estate Association (CREA) numbers show price growth made a huge deceleration into October. Price growth is now close to target inflation, but over the past 5 years they’ve increased by over 44%. Not just […]
