Greater Toronto new home sales are off all-time lows, but not far from it. BILD GTA, a lobby representing homebuilders, noted a rise for new home sales in January. Last month may have seen an increase, but it was still very much below normal. Toronto Real Estate Prices Are Still Diverging Greater Toronto new home […]
Toronto and Vancouver real estate prices are cooling, but payments are still soaring. Canada Mortgage and Housing Corporation (CMHC) numbers show a big increase for the average payment in Q3 2018. The average payment on mortgages and home equity lines of credit increased at over 2x the rate of inflation. Toronto and Vancouver Mortgage Payments […]
Canadian real estate sales are off to a weak start in 2019. Canadian Real Estate Association (CREA) numbers show dollar volumes have made a sharp decline in January. The drop makes this month one of the weakest the country has seen in years. Real Estate Dollar Volume Dollar volume is a less popular, but very […]
Canadian lenders have started to stall on rising rates. Bank of Canada (BoC) numbers show the effective borrowing rate held for five consecutive weeks by February 15. The stall, rarely seen prior to 2016, also came with deceleration of annual growth. The Effective Borrowing Rate The weekly effective borrowing rate is the typical cost of […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Prices Make Smallest Price Change Since Great Recession Canadian real estate prices are moving a lot slower in 2019. The price of a typical home in Canada hit $613,500 in January, up 0.79% from the year before. […]
Canadian real estate has cooled down significantly over the past few months. Canadian Real Estate Association (CREA) numbers show national price growth fell in January. The annual pace of growth for homes across Canada is now the lowest its been since the Great Recession. The trend is largely driven by broad weakness, with all but […]
The Greater Vancouver condo rush might have just turned. Real Estate Board of Greater Vancouver (REBGV) numbers show condo apartment prices declined for the first time in years this January. The decline came as sales for the month fell to a 9 year low, and inventory climbed to a multi-year high. Greater Vancouver Condo Prices […]
Greater Toronto’s condo mania is subsiding, deflating some of the pressure on prices. Toronto Real Estate Board (TREB) numbers show the price of a typical condo made an abrupt decline in January. Even with the decline, price are still much higher than last year. The month also saw the fewest sales in years, accompanied by […]
Canadian real estate buyers are taking a break after driving most of the country’s markets to new highs. Canadian Real Estate Association (CREA) numbers show the sales to listings ratio declined across most of Canada in January. There were only three exceptions, all located east of Toronto. Sales To New Listings Ratio (SNLR) The sales […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Government Considers Move To Load Households With More Real Estate Debt The Government of Canada is considering lengthening mortgage amortizations for first-time buyers. While the move will lower monthly payments, it increases the amount of debt they can carry […]
