Toronto and Vancouver real estate owners are flocking to home equity loans. Canada Mortgage and Housing Corporation (CMHC) numbers show debt payments increased in almost every segment in Q1 2019. The largest growth was in home equity lines of credit (HELOC). Obligated payments for HELOCs grew at almost 3x the rate of the second fastest […]
Canadians are taking out mortgage debt, but at an unusually slow pace these days. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in July. Mortgage growth is improving compared to previous months. However, this past July was still the slowest rate of growth for the month in over two decades. […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s GDP Gets A Boost By Deepening Reliance On Real Estate Canada’s GDP got a big boost from real estate in the last quarter. Residential investment reached $136.9 billion in Q2 2019, up 1.35% from the previous quarter. This still represents […]
Canada’s dependence on real estate to grow the economy just got deeper… or made a death rattle. Statistics Canada (StatCan) numbers show residential investment showed quarterly growth in Q2 2019. The increase represents one of the few sectors of growth that boosted GDP in the most recent quarter. While residential investment rose on the quarter, […]
Greater Vancouver real estate developers are launching less units – a lot less. MLA Canada numbers show July saw the fewest new pre-sale units launched in years. Developers have been delaying new releases in response to weak absorption. Fewer launches did help to firm up the absorption ratio, but even with the “firming” sales came […]
Greater Toronto new home sales are picking up, but buyers are mixed on prices. Altus Group data shows new home sales across Greater Toronto made a double digit climb in July. Even with the rise in sales, trade volumes are still light this year. Prices followed with a mixed move – condo prices accelerating gains, […]
Canadian real estate owners with large mortgages are falling behind on payments. Canada Mortgage and Housing Corporation (CMHC) data shows a climbing delinquency rate on large mortgages in Q1 2019. The rate remains relatively low, but does show the trend is reversing, and the market peak is behind us. What Are You Looking At? Today […]
Greater Vancouver condo sales are up, but prices fell even further last month. Real Estate Board of Greater Vancouver (REBGV) numbers show a big jump in sales in July. However, the double digit jump in volume wasn’t quite enough to bring prices higher. The price of a typical condo continued to slide, falling to a […]
Toronto’s condo market is continuing its parabolic price move higher. Toronto Real Estate Board (TREB) numbers shows prices reached a new all-time high in July. Sales of condo apartments failed to make a seasonal decline in July. This applied more pressure to prices, as inventory made the usual drop. The result was more pressure on […]
Canada’s fast moving real estate market is still seeing demand shift to the East Coast. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio improved in July. On the national level, there was only a small increase. However, that’s because large gains in the East, are being weighed down by large […]
