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 […]
The decline in Canadian real estate sales is hitting the mortgage market. Equifax data via the CMHC shows a large decline in the dollar volume of mortgages issued in Q4 2018. The decline is the result of fewer originations, that are smaller in size than previous years. New Canadian Mortgage Debt Issued Falls Over $27 […]
The IMF released its recommendations, after doing a deep dive into Canada’s economy. One key point was to not give into political pressure around real estate. Urging Canada to think long term, they advised against looser regulations or stimulus. The organization didn’t provide numbers, so we pulled a couple of data sets. Long-term, the impact […]
Canadian real estate markets are cooling down in almost every region. Canadian Real Estate Association (CREA) numbers show the price of a typical (a.k.a. benchmark) home fell in April 2019. Despite some large annual growth in a few markets, only 3 real estate markets are printing new highs. Canadian Real Estate Prices Are Down Less […]
