Bank of Canada Archives - Page 31 of 89

This Week’s Top Stories: Canadian Real Estate Inventory Is Rising & A $1.35 Billion Loan Default

October 22, 2023

Time for your cheat sheet on this week’s top stories. Canadian Real Estate Most of Canada’s New Condos Are (Still) Investor Owned: Stat Can Statistics Canada’s Canadian Housing Statistics Program (CHSP) released data showing most new condos are investor owned. The organization stated the data is increasingly important amidst public discussion about affordability. Ownership concentration […]

Canada

Canadian New Housing Starts Are Rising With Inventory—Bad News For Prices

October 18, 2023

Canadian real estate markets that are suddenly well supplied are about to get more inventory. Canada Mortgage and Housing Corporation (CMHC) data shows new housing starts climbed in September 2023. The rise in starts is good news for housing supply, but may not be great news for investors. Existing inventory for sale has climbed to […]

Canada

Canadian Rate Hikes Unlikely As Inflation & The Economy Slows

October 17, 2023

The Canadian economy is slowing and that’s helping to moderate price growth. Statistics Canada (Stat Can) data shows the Consumer Price Index (CPI) decelerated in September 2023. Inflation remains elevated but it’s still slowing down. That’s good news for those fearing rate hikes, but slowing demand and fading economic growth is still far from good […]

Canada

Canadian Real Estate Expectations Cool Despite Population Growth: BoC

October 16, 2023

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 […]

This Week’s Top Stories: Canadian Real Estate Supply Surges & Prices expected To Go Even Lower

October 15, 2023

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

Canadian Real Estate Supply Surges, Banks See Lower Prices Ahead

October 13, 2023

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

Toronto & Vancouver Housing Supply Outpaced Population Growth… Until Now

October 12, 2023

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 […]

Canada

Canada Heard Two Real Estate Narratives From The BoC, But Data Only Supports One

October 11, 2023

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, […]

Canada

Canadian Real Estate Prices To Fall Further Than Expected Due To Yields: TD

October 10, 2023

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 […]

This Week’s Top Stories: Canadian Real Estate Heads Into Bear Season & Economists Warn On Job Gains

Toronto Condo Prices Drop In 3 Out of 4 Neighbourhoods, Still Up Over 26%

October 8, 2023

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 […]