Canadian household debt reached a new high last month, but continues to see growth slow. Bank of Canada (BoC) numbers show the balance of outstanding credit reached a new record high in June. The record came with the slowest annual rate for June in decades, dragged down by a lack of consumer credit. Canadians Owe […]
Canadian real estate developers are in a mad dash to build purpose built rental units these days. Canada Mortgage and Housing Corporation (CMHC) numbers show huge growth in rental units under construction in June. Canada hasn’t built this much rental stock at once in at least 30 years. Canada Has Never Had More Rentals Being […]
Canadian mortgage growth is showing some signs of life after bottoming. Bank of Canada (BoC) numbers show outstanding mortgage credit hit a record high in June. The record came with an uptick in the rate of growth, which had bottomed in recent months. Mortgage credit growth is improving, but still growing at one of the […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate National Bank Of Canada: Don’t Take Real Estate Price Increase As A Sign Of “Vigour” Canadian real estate prices made a small increase, but NBC warns it’s not the sign of “vigour” you may think. National prices increased 0.76% in June, […]
Greater Vancouver’s new home sales are slowing faster than anyone could have expected. Numbers from MLA Canada, a notable real estate advisory firm, show sales dropped in June. Absorption of new projects is now at a level so low, it’s expected to delay the launch of many new projects. Real Estate Developers Launched The Fewest […]
Greater Toronto new home sales are improving, just not in the City of Toronto. Numbers from Altus Group, a leading real estate data firm, show a big climb for new home sales in June. While the climb is large, sales volumes are still below average for the month. Most interesting is the market shift. New […]
Toronto is still the King of North American real estate development. The Rider Levett Bucknall (RLB) Crane Index shows Toronto had 120 active construction cranes in July. Toronto not only tops the list for the most real estate development in North America. It also has more than twice the number of active construction cranes than […]
Canadian real estate owners just squeezed out a new record for borrowing home equity. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential property reached a new record high in May. The record high came with smaller than typical monthly increase. However, the annual increase was the […]
B.C. real estate markets are the fastest cooling in the country right now. Canadian Real Estate Association (CREA) numbers show sales to new listings ratios made a mild decline across the country. Most markets made improvements on a year-over-year basis. However, B.C.’s markets are cooling so fast, it was enough to weight the national market. […]
Canadians must be entering election season, because not even real estate prices will give a straight answer. The Teranet–National Bank of Canada House Price Index (TNB HPI) showed prices increased in June. Economists at the bank warn not to read too much into the increase, however. Without seasonal pressures, the index would have shown a […]
