Canada

Recovery or Dead Cat Bounce? Canadian Real Estate Sales Rise Unexpectedly

Canadian real estate sales are stabilizing after last year’s massive drop. Canadian Real Estate Association (CREA) numbers show a large climb for sales volume in April. The increase comes after months of negative growth, but may be more of a sign of stabilization. Last year’s decline in sales was the largest in over a decade, so it was a relatively easy beat.

Canadian Real Estate Sales Rise Over 4%

Canadian real estate sales made a climb from the multi-year low hit last year.  CREA reported 48,461 sales in April, up 21% from the month before. This represents an increase of 4.2% when compared to the same month last year. For context, it’s a 9.96% decline compared to April 2017. Most of the increase was a partial offset from the huge drop made last year. Over the past 5 years, April 2018 was the only month with fewer sales.

Canadian Real Estate Sales

The unadjusted sales for all home types, as reported through the Canadian MLS.

Source: CREA, Better Dwelling.

One interesting note to take away is how big of a swing the annual pace of growth made last month. The 4.2% annual pace of growth in April was the highest since March 2018, and follows 15 months of negative numbers. April 2018 had made the largest annual decline for the month in over 10 years. The rise this year appears to be largely normalization. Regardless, it’s hard to discount the massive change in direction.

Canadian Real Estate Sales Change

The annual percent chage of unadjusted sales for all home types, as reported through the Canadian MLS.

Source: CREA, Better Dwelling.

Real Estate Markets With The Biggest Gains, Saw Big Losses Last Year

Canadian real estate markets with the biggest gains, showed big drops last year. Niagara is reporting the biggest growth with 632 sales in April, up 22.7% from last year. Last year Niagara experienced a 15.4% decline compare to one year before that. Toronto sales came in at 9,042 last month, up 16% compared to one year before. In 2018, Toronto real estate sales had fallen 22.3% from the year before that. One exception would be Quebec City in third with 908 sales in April, up 12.1% from last year. Last year, those sales had increased a massive 40.1% from the year before. The rise in Quebec comes after trailing national price increases over the past few years.

Canadian Real Estate Sales By Market

Canadian real estate sales in markets with more than 500 sales in 2018.

Source: CREA, Better Dwelling.

British Columbia Real Estate Keeps Falling

British Columbian real estate markets bucked the trend, printing big drops for a second year. Vancouver real estate had the biggest declines in Canada with 1,850 sales in April, down 29.7% from last year. Vancouver had also seen sales decline 48.9% last year, when compared to the year before. Fraser Valley had the second largest drop with 1,308 sales in April, down 18.9% from last year. Last year the Valley had also seen sales decline 38.8% from the year before. Victoria came in third with 665 sales, down 10.1% compared to the same month last year. Sales in Victoria last year had already fallen 21.5% from the year before that.

Canadian Real Estate Sales Change By Market

The percent change in Canadian real estate sales, in markets with more than 500 sales in 2018.

Source: CREA, Better Dwelling.

Canadian real estate sales bounced due to a large decline in the country’s largest markets last year. Large and rapid declines are usually followed by a quick bounce higher. British Columbian markets are a big exception this year, which are compounding lower. On the upside, it’s difficult to drop even further without a decline in the regional economy.

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74 Comments

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  • Reply
    Mac 6 days ago

    Hate to be the person that quotes Timothy Sykes, but he has the best explanation on volume recovery I’ve come across.

    ” traders are seeing the decline and beginning to think, “maybe I should exit here and take my profits”.

    At the same time, the trade can become enticing for people looking for a good value. This could cause a flurry of buying activity.

    You could think of it like a pressure system that you’d see on the Weather Channel. When these two things happen at the same time, they create a pressure that causes the perfect storm, briefly making the stock spike.

    However, the pressure is unsustainable, and after the flurry of activity, the downward crash continues.

    https://www.timothysykes.com/blog/dead-cat-bounce/#How_The_Dead_Cat_Bounce_Pattern_Occurs

    • Reply
      TO Investor 6 days ago

      Except buying a home isn’t the same thing as “trading.” It’s not volatile like the stock market.

      • Reply
        Mortgage Guy 6 days ago

        The technical term is literally “real estate trading.” One asset, sometimes with improvements, trades from one person to the next. The more people view real estate as a “good investment,” the more prone it becomes to acting like an investment instead of somewhere to go.

        A prudent government would look at the value of the land versus the value created by these individuals in society, and know it’s a hair on fire problem.

      • Reply
        Bluetheimpala 6 days ago

        Yes the volume and short term volatility is completely different (housing is not a liquid asset) but the point is that the thinking is the same. “Oh I can make $$$, buy X and hold for Y time in days/months/years and sell for X+Profit”. However the volume difference doesn’t incubate this market. Historically, outside of pockets where there has been infrastructure enhancements or benefiticial development, YoY gains are 2%. We had multiple years where the YoY was 5-10 times that…hence the thinking above and little bounces like this, similar to what we’re seeing in the stock market, sucks in the plebes. That’s what I believe has been happening for the last 12 months approx. It’s a tease. You’ve been warned. Tock. BD4L.

        • Reply
          SCE 6 days ago

          Still chirping about an impending housing crash? Didn’t you just buy a place????

          When will you fools just accept that the crash already happened. Nothing but blue skies now. Don’t have to believe me, but don’t deny the data.

          Tick tock. BD4L

      • Reply
        Rob 6 days ago

        Actually it is when it comes to people and greed vs fear, human emotions, etc…

  • Reply
    David Brown 6 days ago

    If you’re in BC, I would find it extremely difficult to jump back in right now with everything happening in the province. If you’re in Ontario, it’s still surprising, but the bubble hears not what’s happening around it.

    • Reply
      RainCityRyan 6 days ago

      I see most folks waiting on the sidelines in BC until we all know what’s going to happen on several fronts.
      Will there be a commission on money laundering?
      Will the push for unexplained wealth orders continue/pressure build?
      How much worse will the inventory overhang become?
      RE is between 15-30% of our economy, with it being undermined how will the rest of the regional economy fare?
      Oh and of course we’re all still up to our eyeballs in debt …

      • Reply
        RainCityRyan 6 days ago

        *UPDATE*
        we can tick the “money laundering commission” off the unknown list … it is proceeding.
        The BC premier has appointed Justice Austin Cullen to head the commission

    • Reply
      MM 6 days ago

      I find it very entertaining that more and more bears started to loudly say wording “surprising” related to Toronto market. They cannot keep it in secret anymore.

  • Reply
    Nobody 6 days ago

    Regular homeowners, investors, and speculators are all profiting from money laundering. Think about, our equity is sky rocketing from the money coming into this country as a result of human trafficking, kidnapping, extortion, drug dealing, etc. We’re a country of hypocrites who defend human rights but at the same time profit from pure evil. Gotta love Canadian values.

    • Reply
      MM 6 days ago

      Money laundering crying is a latest trend based on series of reports paid by BC NDP. If you are crying about dirty money, you are following news media trends. At the same time you are a victim of very unskilled manipulation of anger.
      Maybe I should pay for some reports too if it proven to be so easy to manipulate opinions.

      • Reply
        Rob 6 days ago

        Those reports are facts, facts ignored way to long. And those reports confirm criminal activity. A government brought it to light. Don’t make it political.

        • Reply
          MM 5 days ago

          I would not call them facts.
          First of all, report from Transparency International has zero relation to money laundering. It simply says about corporate money with unknown owner and it assumes that unknown fraction of it is dirty.
          Secondly, you had decades and decades to introduce rules that you would like to see in Canada, but you were completely silent about it….Until BC NDP paid money to purchase 5 reports in just a single month to influence opinion of inexperienced minds like yours.
          Frankly, even NDP doesn’t care about dirty money. The primary goal of NDP is to force RE prices to fall using whatever tool necessary. Earlier Foreign buyer tax was used, later empty home tax, strictening rent control…Dirty money talks and paid reports is just another tool that can cause additional prices decline in comfortable timing for them, nothing less and nothing more.

          • WorldClassCitizen 5 days ago

            How is a corporation with an unknown owner, not dirty?! I dare you to name a single reputable corporation with an unknown owner.

          • MM 5 days ago

            Goldman Sachs, Bank of America, pretty much every first or second trust created by canadian people.
            Not revealing owners is a FEATURE created by government by a reason. And that reason is not a dirty money.
            If you are asking how is it possible for them not to be dirty, it only means that you are zombied and hopeless

          • Rob 5 days ago

            lol, I guess the retired RCMP officer who wrote these reports must be inexperienced compared to you MM. oh and a public enquiry led by a chief justice judge must be on a political payroll as well. Grow up buddy, your Liberal friends turned a blind eye to this problem when they shut down Peter German in the past.

          • MM 4 days ago

            Its not just RCMP officer. Read Transparency International report a month ago – same story. Total there are five different sources that suddenly started active publishing process in a very limited timeframe. I will let you think it is a coincidence.
            If you are trying to convince me that the issue of dirty money is something critically important for the bright future of your fair society, don’t waste your time. I already said that it is nothing more than just another tool for attacking real estate prices in comfortable timing. And you are part of that tool, since your opinion is influenced.
            So take your time, describe to yourself the importance of all that stuff…enjoy that…Everyone else will keep seeing just a tool. A dirty way to manipulate naive people.

  • Reply
    Mortage Guy 6 days ago

    Possibly of interest is the dollar volume change.

    Sales increased by 4.2% from last year, but the average sale price increased by only 0.3%.

    • Reply
      Paul Robson 6 days ago

      What does that mean?

      • Reply
        Joe 6 days ago

        Price levels usually lag behind sales levels. If sales levels were to sustain the increase, then price levels will follow.

        For Toronto specifically, I think there are more sales in the lower end (2m) causing the average price to only increase 0.3%.

  • Reply
    SUMSKILLZ 6 days ago

    Realtors used to put 2-3 arrow, pointer signs for open houses. Last weekend I saw someone put more then ten out at various intersections. Some had balloons too! Nothing says “classy” like balloons…

  • Reply
    GB 6 days ago

    I sold my Downtown Toronto Condo in October. Renting now. Hoping to get in cheaper or maybe a semi – seems like better value.

    Semi market downtown is crazy tight – around 2 months of supply or less.

    Interesting to see SEMIs in the core trading for more than detached homes in Lawrence Park or Leaside. Seems the everyone wants to be downtown ? Traffic is just too crazy – and TTC solutions are a decade away.

    Good luck to all.

    • Reply
      Ethan Wu 6 days ago

      Not only are TTC solutions a decade away, there’s going to be 10 years of pain while they build them out.

  • Reply
    MoMo 6 days ago

    Demographics?

    After boomer is now 63.

    In your 50s you usually buy your biggest house. Now they are done ? The last decade was great for volumes. Now for the aging in place to continue.

    Average millennial is only 27 – end with extra Education and Debt aren’t driving sales yet.

    We could be in a dead zone for awhile.

    Thanks.

  • Reply
    Jon snow 6 days ago

    the demand for core Toronto will not go away any time soon. people have a strong desire to live in the city for work, school and lifestyle and are willing to pay a premium, even willing to give up on things like cars and bigger homes. tech jobs are paying higher salaries to attract talent. GTA prices have already dropped and some good value for detached homes. For those ‘investors’ who can’t continue leveraging their properties in a slowing market, they will probably sell at discounted prices for the rest of this year but don’t expect 2014 prices.

  • Reply
    NJ 6 days ago

    Don’t get too exited RE pals, if you keep holdn up your ‘return of the bull’ reporting for long, your daddy is gonna get you and peek the rate this monthend quoting “inflation worries”…

    • Reply
      me 6 days ago

      You do know GTA condo prices both resale and new construction are ar record Prices – higher than when the Toronto Detached (and overall average prices) peaked in the Spring of 2017.

      • Reply
        NJ 6 days ago

        Stage is set nice for an increase this time, “Recent economic data have been stronger than expected, supporting the Bank’s view that growth in Canada is becoming more broadly-based and self-sustaining” lol

    • Reply
      RE EXPERT EXTRAORDINAIRE 6 days ago

      insolvencies are up 6% last month. We will see a rate cut.

      • Reply
        RainCityRyan 6 days ago

        I wrote this big long post see-sawing back and forth about what the BoC will do in the near future but deleted it as here’s what it really boils down to:
        A rate cut (even ZIRP) would only support RE prices IFF we haven’t reached credit exhaustion/market fundamentals firm up.

        • Reply
          RE EXPERT EXTRAORDINAIRE 5 days ago

          I believe insolvencies for the month of April are up 6%. I can see a rate cut coming. I wonder what people will say here if that happens lol!

          • RainCityRyan 5 days ago

            only source i have for insolvencies is the Gov’t page (just updated for March)
            http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br04090.html
            if there’s some early data for April I’d love to see a link!

            Regardless of what the insolvencies for April end up @ I think we’ll see a break in the link between rate cuts and reinforced housing prices.
            BoC managed to make it all the way to 1.75% before we had to stop raising and hold/cut? This is a big red flag that we’re nearing/at credit exhaustion.

            Oh and the genie is out of the bottle on the “housing only goes up” narrative that we tell each other. Now I’ll pause for someone to tell me how this time is different.

          • RE EXPERT EXTRAORDINAIRE 5 days ago

            Rain city- I actually heard it on the radio and I thought it was announced from bdo but now I’m second guessing myself cause I cant find the article but I did find this. It says up 7.3% you
            https://www.hoyes.com/press/consumer-insolvency-statistics/

          • RE EXPERT EXTRAORDINAIRE 5 days ago

            Rain city- to say we are approaching the end of a cycle you should keep in mind how long interest rates were below 3% for. Like almost 10 years. We could go another 10 years up.

          • @xelan_gta 5 days ago

            You know recessions followed after rate hikes&cuts cycles much more often then they didn’t? In fact in US there was only one example of soft landing when recession didn’t follow rates hikes & cuts cycle.
            You are correct rate cuts are coming but I wouldn’t be so happy about it.

          • WorldClassCitizen 5 days ago

            The source you site is a law firm that deals with insolvency. That is an add my friend not actual legitimate information. Check your sources.

            Oh BTW I hear the costs of bridges is going to sky rocket I got a great deal on one in New York if you’re interested.

          • MM 4 days ago

            Xelan_Gta, if I remember correctly, you sold your condo few years ago claiming yourself an expert. You main argument has been that rate hikes are coming and coming and coming and that it guarantees price crash.
            Sure, rate cut environment has its own risks and benefits, you are able to talk about them loudly. However we should not forget that your first forecast was wrong since rate hikes stage is over.
            Canada is full of such “experts”;)

      • Reply
        RE EXPERT EXTRAORDINAIRE 5 days ago

        World class citizen-
        After this you have to do your own homework.
        Here is a Mike Martin’s video with the stats from bnn Bloomberg…. your kind of info source so I will look forward to your excuse after.
        I will be awaiting your apology for your ignorance…

  • Reply
    Cannuckster 6 days ago

    You know nothing, Jon Snow …. sorry, but GOT made me do it!

  • Reply
    Asterix1 6 days ago

    The RE can keep publishing their garbage benchmark stats! For sales volume, a slight raise of sales vs a terrible April 2018 numbers is nothing to scream about.

    Newspapers publish TREB rubbish at the start of the month, followed by CREA rubbish mid-month! Cant escape the propaganda. The industry keeps adding layers of lipsticks to a dirty pig. Fundamentals will keep acting like water and rinse the makeup off.

  • Reply
    Hmm 6 days ago

    I recently made a house assessment by certified appraisal for divorce purposes.
    Toronto detached near major subway station.
    Bought in Jan 2017, $920k.
    Price today: $1030k
    And tenants paid $40k over 2 years.

    Initial investment: $70k
    Profit over 2 years: $150k

    ROI: ~100% per year.

    Sorry guys, I didn’t know housing is crashing. If I knew that, I would have never bought it in 2017.

    • Reply
      Grizzly Gus 6 days ago

      Thanks for that. When real estate “investors” talk about their ROI without accounting for carrying and transaction costs it just makes me much more confident that we have massive excesses to unwind.

      And has it sold for that price yet?

      • Reply
        GTA Landlord 6 days ago

        Just broke down a low estimate of costs for people, using *his* numbers.

      • Reply
        Hmm 6 days ago

        It is not on sale, why would I count that?
        Somebody can make 250% ROI and you will tell him “You’re loser, your selling costs would be higher than profit”. It is your imaginary world, not reality. RE investors don’t sell assets to declare profit, unlike stock market.
        Carrying costs are included. I only counted towards profit principal debt payment by tenants and removed everything else that was used for maintenance, interest etc.
        Let’s say somebody rents out similar house entirely and has negative cashflow. Even in that case, it would be literally impossible to have 70k extra carrying costs every year to reach zero profit.

      • Reply
        @xelan_gta 5 days ago

        Nice one, Grizz:)
        No word on capital gain taxes as well.

    • Reply
      GTA Landlord 6 days ago

      Usually I just let these slide, but this one needs a little more napkin math.

      – Mortgage interest (with your 7.61% down) @ lowest rate variable over the past 3 years (which is more likely higher) = $45,120

      Property taxes in Toronto for two years = $11,693 taxes (plus ~$8,261 in taxes this year)
      Land Transfer tax on purchase: $29,750

      Total Cost (excluding property MI) = $86,563.

      Your “~100% profit” excluding MI+Professionals) = a $6,563 LOSS, excluding liquidity. Knock 5% off the selling price and your loss is now $28,063 today, minus another $8,261 in this year’s property taxes prorated to when it actually closes.

      Not even bearish on property, I just think it’s the worst when people pretend the returns are 100% over two years, when they don’t have a proper understanding of how a cost basis is calculated. You’ll break even (and hopefully make money eventually), as long as it’s not negative carry.

      However, let’s not pretend you made 100% today, when in actuality you’re currently starring down the barrel of a 4% LOSS.

      Good luck with the divorce!

      • Reply
        Hmm 6 days ago

        Its kinda pathetic when someone without any understanding starts to talk BS.
        I could be more specific by saying that 40k is only principal debt that tenants paid.
        Mortgage Interest. property taxes, utilities and everything else is intentionally retracted to simplify your understanding.
        But you preferred to think that rental income for a detached house is 40k over two years and nothing rings a bell in your head that you are wrong. Good job. Hard to fight your emotions when market is not behaving the way you want, right?

        • Reply
          GTA Landlord 6 days ago

          I was mostly showing that your numbers were completely fabricated, so people should take it with a grain of salt.

          What emotions? I’m a professional landlord, prices go up my net-worth goes up. You’re a professional clown, speculating between what I can only assume are gigs being a clown.

          • Hmm 6 days ago

            How can you be professional landlord if you assumed that 40k is total gross rental income for a detached house over 2 years?
            It looks like even after my clarification you haven’t understood what I am saying and you keep thinking that you are right.

        • Reply
          Smaug 6 days ago

          Mortgage Interest. property taxes, utilities and everything else is intentionally retracted to simplify your understanding.

          Removing 100% of the relevant costs from an example does not simplify anyone’s understanding, it nullifies your example and makes you look like an idiot.

          • Hmm 6 days ago

            On this forum, maybe, because everyone is seeking reasons to attack. On other forums, its never an issue.
            It may surprise you, but it is industry standard to do that retraction. People operate with terms positive/negative cashflow and caprate. Both numbers already retracted from rental income property taxes, interests, maintenance etc and they are 100% relevant. Weird, eh?
            I probably should be concerned that I “look like idiot” in your eyes, but for some reason I don’t care.

          • Hmm 6 days ago

            Let’s be honest. We both know why you talk about “looking like idiot”. Because you are the third replier to my original post who cared to write a big reply without not just analysis, but also without even reading previous replies and clarifications.
            I would feel ashamed too to be third guy with same mistake. It does look like idiot.

        • Reply
          WorldClassCitizen 5 days ago

          Methinks you protest too much. Perhaps something rang true for you?

          • RE EXPERT EXTRAORDINAIRE 5 days ago

            World class citizen its nor your fault you’re not informed you just probably dont have as much time as some of us that dont work. Because I dont have to work anymore yet am a millenial so I’m familiar with technology I can search for information with all my free time where as you are probably busy 10 to 12 hours a day with work/ traffic etc so I dont blame you for your ignorance but I just think you shouldn’t embarrass yourself.

    • Reply
      Smaug 6 days ago

      $40K rent plus $110K appreciation for a pure profit of $150K. Wow! That is impressive. Too bad it’s total BS. Nobody lends money to buy an “investment property” with only 7.6% down. You need 20% for that. So your $70K initial investment is fraudulent. But if I don’t buy your lies, then I can’t have fun destroying your math, so I’ll humour you. Here it goes:

      A $920K home purchase with $70K down is an $850K mortgage. Even if a lender was dumb enough to give them a mortgage at 3% interest on a 25 year amort, that’s $4023 per month in mortgage payments. That works out $96,552 over two years. Property taxes on that $920K house would be $5846 per year (according to a mill rate of 0.65505%) which works out to $11,692 over two years. So now we’re up to $108,244 in expenses over two years. Throw in $1000 a year to insure and we’ve got $110,244. Maintenance costs would be… well, your clients are obviously too dumb and broke to spend any money maintaining the place, so we’ll assume $0.00.

      $150,000-$110,244 = $39,766 in “profit”. And that’s assuming your assessment is accurate. (Given your math skills, that’s probably my boldest assumption.) Now throw in 4% costs to sell the place, assuming they get your assessed price of $1,030,000, and that’s another $41,200 in costs, for a loss of $1434.

      To summarize, they took on ridiculous leverage to purchase and manage a $1 million rental for two years and ultimately ended up losing $1434 for their efforts. I can’t imagine why a dream team like that would get divorced.

      • Reply
        Smaug 6 days ago

        I forgot about the $29K land transfer tax. No wonder they’re getting divorced.

        • Reply
          Hmm 6 days ago

          Another guy who prefers to translate data into ridiculous things? You don’t even bother to read replies above and clarification for “special kids”.
          Speaking about your drama about 7% investment property down, it only shows that you are uneducated. There is nothing fraudlend in it. Any person is able to get insured mortgage for owner occupied property and after living there to decide to requalify it into rental. Some of them mix living in one unit and renting other units, still satisfying legal requirements. In the worst case, person should live there at least one day.
          Real estate is more complex subject than this simple action, kid. There are plenty of educated people in the world who can teach you. But usually people prefer no to do it when you are trying to blindly attack them even not bothering reading replies first. I did you a favor by explaining it, but don’t expect anything else with such attitude, including LTT talks.

          • KLNR 6 days ago

            Not to mention:
            According to CRA, if you have a rental unit in your house said house will be considered a business which in turn means you pay cap gains tax as well.
            Lots of folks don’t realize this until the CRA come looking for their $$$s

          • Hmm 5 days ago

            KLNR, you covered 1% of entire story around cap gain tax and made it with mistake.
            The only fair thing is that capital gain tax exists. There are countless rules and exemptions around it that every investor and landlord should know. And countless number of strategies how to get advantage of deferring this tax.

            Talking specifically about your statement regarding rental unit inside principal residence, to make your words correct, this wording from CRA site should be added into consideration:

            “The CRA will consider the entire property to maintain its nature as a principal residence in spite of the fact that you have used it for income producing purposes when all of the following conditions are met:

            The income producing use is ancillary to the main use of the property as a residence
            There is no structural change to the property
            No capital cost allowance is claimed on the property

          • Smaug 5 days ago

            So someone paid them $20K per year for the privilege of sharing a house with them? Or they pretended they were going to live there (lived there “for at least one day” as you say), then quickly moved out and rented it? (Deliberately misleading lenders as to your intentions regarding the property is fraud by the way.) Which is it?

            Either way, it’s a good thing they’re splitting up. Clearly they do not bring out the best in each other regarding financial decisions.

            Also, you said they’re not selling the house. So they’re getting divorced and maintaining co-ownership? If they get along that well, why split up?
            Or is one buying out the other, meaning that someone is indeed selling the house for a net loss?

            You’re right that there is plenty I need to learn about real estate. Just not from you. The scenario you just described reeks of impulsiveness, poor planning, and bad math at best, outright mortgage fraud at worst. Plus, you can’t sit down at a keyboard without contradicting yourself.

          • Hmm 4 days ago

            I don’t mind to have first experience and “poor planning” with epic fail result of 100% ROI per year.
            Let’s see how your first experience goes. If I understand correctly, you are believer of sect “You can’t earn profit in RE, impossible!”;) I have some idea about the range of your ROI in last two years….

        • Reply
          JC 5 days ago

          Smaug. Lol. Gotta love the facts! Your post totally made my night tonight. Thanks for the laugh 😀

    • Reply
      RE EXPERT EXTRAORDINAIRE 5 days ago

      Decent numbers especially when you bought at the “peak” . From what I’ve seen in the comments I would have thought you had lost millions lol.
      Even if you have some costs and agent fees if you end up with 100k profit in 2 years what else does that?
      Good job.

    • Reply
      RE EXPERT EXTRAORDINAIRE 5 days ago

      Look at these commenters tryin to catch you slippin! Lol! I see your numbers and get the idea. Dont try to explain yourself to fake landlords and people with money allergies. And btw 3% fixed rate mortgage was no problem in 2017 that’s how narrow minded these savages are.

      • Reply
        Joe 5 days ago

        You can never convinced people here that the market has recovered even in the lower end of the market (<1.5m) when it is so obvious that whatever losses/crash that happened in last 2 years have recovered and some areas even going higher than the peak.

        The high end market on the other hand though, is still lower than the peak and will probably remain so for some time.

        Seriously, just look at some of the houses sold in East York / Riverdale / Leslieville…they are catching up to the rest of the other more expensive areas.

        If you bought right smack at the peak at the start of 2017, with carry costs, you probably are still down but if you bought just a year earlier, you would have at least broke even or a small profit (even after carrying costs included) if your house was <1.5m…

  • Reply
    M Whitaker 6 days ago

    Would like to read more info on Vancouver Island. Especially Qualicum Beach area.
    Sellers are greedy here trying to make a quick buck from the Vancouver City folks.

  • Reply
    DB 6 days ago

    gta landlord i like your sense of humor.
    hmmm. did i spell that correctly…hmmmm i smell a re:t

  • Reply
    AGuyInVancouver 6 days ago

    Hong Kong reoprting huge capital flight from Mainland China as trade talks collapse. Perhaps this will be echoed in Canada

    • Reply
      Joseph 5 days ago

      Interesting! Any insight? Is there a good article on this or just word of mouth?

      I saw the fight in their parliament the other day. Usually it’s been the Japanese politicians who I’ve seen fighting. Crazy situation between Hong Kong and China.

  • Reply
    Paul 6 days ago

    “ CREA reported 48,461 sales in April, up 21% from the month before “
    Really??? Comparing to a month that has the lowest sales volumes in 3 decades. lol. Any amount of rise in sales would look good.
    This information is confusing and misleading and on a best day,, useless.

    Catch a falling knife.

    You’re going to have the occasional upward spikes but you have to look at the overall trend.

    • Reply
      RE EXPERT EXTRAORDINAIRE 5 days ago

      Hi Paul, it’s the months of inventory that has more importance. Moi shows if the inventory is moving.
      Cheers

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