Canada’s central bank made no changes to its key interest rate but the hikes may not be over. As the market expected, the Bank of Canada (BoC) made no changes to rates this morning. Eroding consumer spending and a slow economy were amongst the reasons cited. They did raise their inflation outlook though, indicating hikes […]
Canadian inflation is slowing and that may prevent the Bank of Canada (BoC) from hiking rates further. The National Bank of Canada (NBF) warns that even if there’s no hike, a significant impact from previous rate hikes has yet to be felt. A rate hike takes years to work its way through the market, and […]
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 […]
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 […]
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 […]
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, […]
