Canadians were planning a flurry of real estate activity just a few months ago, but risk happens fast. The Bank of Canada (BoC) Survey of Consumer Expectations show households have planned less housing activity in Q3 2023. Despite a booming population, fewer people plan to buy or sell a home—or even move. Fewer Canadians Are […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Supply Surges, Banks See Lower Prices Ahead Canada’s big banks are adjusting their home price expectations even lower, after a sudden inventory jump. For a sixth consecutive month, new listings of existing homes for sale climbed. Supplies now sit […]
Canada is seeing higher interest rates, turning investors away from the market. That’s helping to balance demand. Canadian Real Estate Association (CREA) data reveals national existing home sales fell in September. The drop isn’t particularly noteworthy by itself, but when combined with strong inventory it demands attention. Market conditions are cooling so rapidly that Canada’s […]
Canada’s two largest markets somehow managed to keep up with record population growth—until now. The Statistics Canada (Stat Can) Canadian Housing Statistics Program (CHSP) latest update shows new homes lagged population growth in 2022. The group had previously released a study showing Canada’s housing stock had outpaced population growth up to 2021. It appears Canada […]
Canadian interest rates are surging higher and setting up a hurdle for prices. So last week, when a former Bank of Canada (BoC) appeared on Bloomberg, his statement on prices being too high for current rates was clear. Most, including Bloomberg, paired this with the mortgage rate burden. Clearly, interest rates need to come down, […]
The Canadian real estate outlook is getting dimer, at least in the near term. TD Economics made a downgrade to its forecast for home sales and prices. Interest rates have climbed higher than anticipated, and the bank warns that will slow things down even further than thought. Canadian Bond Yields Are On A Tear, Which […]
Canadian mortgage rates are climbing and may be creating a little more stress for borrowers. Equifax data reveals mortgage delinquencies have climbed from record lows in Q2 2023. That may present some concerns, until some context is provided. Yes, the delinquency rate is climbing from lows, but the rates remain much lower than they were […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Economists Are Skeptical of Job Strength, Discouraged Workers Jump 44% Canada’s job market continues to grow but economists warn context is important. The country added 64k jobs in September, which would have been a blowup job report pre-2020. A recent population […]
Canada’s economy printed what traditionally would be another blowout job report. Statistics Canada (Stat Can) data shows the country added tens of thousands of jobs in September, and wage growth is ripping higher. However, virtually every economist we heard from this morning warned the data has to be viewed with a different lens. To summarize […]
Canadian real estate markets are preparing for another raid, said one of the country’s largest banks. BMO warns the early data for September markets generally shows loosening conditions. Markets like Toronto, which usually have scarce supply, are now flush with the most inventory since 2010. Markets are only expected to get more loose in the […]
