Toronto real estate buyers demonstrated they are still exuberant, but there’s a lot less of them. Toronto Real Estate Board (TREB) numbers show prices climbed in December, but are off peaks. The month also came in at a multi-year for inventory, and the second fewest sales in 11 years. That sales number is likely to […]
If you’re looking for a new home in Greater Toronto, there’s a whack of supply that continues to rise. Altus Group numbers obtained from BILD show December inventory was the highest in years. The rising inventory came as the market saw the fewest new home sales since the Great Recession. Greater Toronto New Home Prices […]
Falling Canadian real estate sales are still taking a bite out of mortgage growth. Bank of Canada (BoC) numbers show mortgage debt reached a record high in December. Despite the record, the annual pace of growth fell to a multi-year low. In fact, it’s only been lower for one month, over the past 30 years. […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Sales Drop Over $38 Billion In Business Last Year Canadian real estate sales made a huge drop in dollar volume. Sales through the MLS racked up to $224.04 billion in 2018, down 17.78% from the year before. […]
Canadian real estate buyers spent a lot less cash last year. Canadian Real Estate Association (CREA) numbers show dollar volumes made a massive decline in 2018. The total amount spent on real estate resales made a massive drop, largely do to declines in Toronto and Vancouver. Why Look At Dollar Volume? Dollar volumes aren’t just […]
Canadian real estate exuberance is quickly cooling, but still above critical levels. The US Federal Reserve’s Reserve Bank of Dallas has published their quarterly update on global real estate exuberance. Canada’s numbers show buyer exuberance is down to a multi-year low, but is still very much exuberant. The Exuberance Index The exuberance index is the […]
Declines in Canadian real estate sales is really putting a drag on debt growth. Numbers from the Bank of Canada (BoC) show Canadian banks held a record amount of mortgage debt in Q3 2018. However, the record amount of mortgage credit is growing at the slowest pace in years. Canadian Banks Hold Over $1.25 Trillion […]
Canadian homeowners might find themself with less home equity accrued than planned. Bank of Canada (BoC) data shows a significant climb for variable rate mortgages in January. The rise in rates can leave existing borrowers paying more interest, and a lot less to principal. Variable Rate Mortgages Variable rate mortgages are when the interest rate […]
Canadian households face higher borrowing costs, despite the lack of policy rate hike. Bank of Canada (BoC) numbers show the weekly effective interest rate for households reached an almost 10 year high. The increase comes after the effective rate had stalled for six weeks. Household Effective Interest Rate The household effective interest rate is a […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Sales Fell Over 11% In 2018, Biggest Drop Since 2008 Canadian real estate sales made a big drop last year, and that’s going to have consequences for the economy. Just 458,442 sales went through the MLS in […]
