Slower Canadian real estate sales are putting a drag on mortgage credit growth. Bank of Canada (BoC) numbers show outstanding mortgage credit reached a new record high in April. The new record came with stalled growth, but there were some signs a small bump could be on the way. Canadians Owe Over $1.56 Trillion In […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Housing Is The Least Affordable In The World… For Local Incomes Canadian real estate prices are the least affordable of advanced economies. Canada’s house price to income ratio reached 122.9% in Q4 2018, up 2% from the year before. […]
Greater Vancouver real estate is seeing the new condo pre-sale market get hit hard. MLA Canada, a prominent Vancouver real estate marketing and analytics firm, numbers show condo apartment sales fell in April. The decline in sales has led to weaker absorption of new project launches. Developers plan to delay thousands of units, in anticipation […]
Greater Toronto new home data is mixed, showing some improvements as well as flags. Altus Group data shows new home sales across the region ripped much higher in April. The rise in new home sales were likely helped by improvements to prices. The price of a typical new single-family home is down from last year, […]
Don’t worry, Canadians are still using their homes as ATMs. Office of the Superintendent of Financial Institutions (OSFI) filings show a new debt record in April. The balance of loans secured by residential real estate reached an all-time high. While the segment of debt is slowing in growth, it’s growing faster than national home prices. […]
Greater Vancouver real estate’s hot spring market hasn’t materialized as of yet. Real Estate Board of Greater Vancouver (REBGV) numbers show condo apartment prices were down substantially in April. Last month was also saw the fewest sales in over a decade, which pushed inventory much higher. Vancouver Condo Prices Fail To Rise In April The […]
Toronto real estate might be slower, but condo prices are still pushing higher. Toronto Real Estate Board (TREB) numbers show the price of a typical condo reached a new record high in April. Sales picked up from last year, making it the second fewest sales in the past 5 years. Meanwhile inventory increased to a […]
Demand for Canadian real estate is picking up in some markets, but it’s still far from where it used to be. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio fell across Canada in April. Markets that underperformed the national price boom in 2017, now lead demand growth. British Columbia, once […]
Canadian home prices have been growing at a breakneck speed, and incomes aren’t even close to keeping up. Organisation for Economic Co-operation and Development (OECD) numbers show Canada topped the house price to income index. Canada’s gap between house price and income growth grew so fast, it tops the list of high-income, advanced economies. House […]
All good times must come to an end, it’s just tricky to figure out when the end is near. Statistics Canada (StatCan) unemployment numbers show Canada made a big improvement in April. The national level of unemployment continues to fall. Unfortunately, the trend skipped the most expensive real estate markets – Toronto and Vancouver. On […]
