Canadian home builders have faced soaring labor and material costs, and now there’s confirmation. The Statistics Canada (Stat Can) building construction price index made a record climb in the second quarter of 2021. Costs jumped significantly higher for homebuilders, even if just compared to non-residential construction. Homebuilders saw the fastest increases in “hot” housing markets […]
Lumber prices are still crashing, marking the ninth consecutive week of declines. The cost of the commodity has seen more than a quarter of its value fall in the past month. Since the peak price reached just over two months ago, prices are now down by more than half. As much as they’ve fallen, experts […]
Canada’s national statistics agency delivered another measurement pointing to a housing chill. Statistics Canada (Stat Can) data shows investment in building fell in May. The drop was due entirely to residential investment, which was cut from a record high. Even with the substantial cut, investment in home building is above historic levels. Though that can […]
Canadian home sales are sliding lower across the country, and new homes aren’t immune to the dive. The absorption of newly-built and priced homes slipped in April, according to the CMHC. The good news is the most popular purchase price range for new homes is lower than you think it is. The bad news is, […]
A large Canadian financial institution sees housing investment moderating soon. Desjardins has forecast residential investment will begin tapering in the second quarter of this year. They also see negative growth next year, as other segments of the economy start to draw in some dollars. Canadian Residential Investment Grew 43% Residential investment has seen obscene growth […]
Weak home sales and generally slowing demand have sent lumber prices into a tailspin. The price for the commodity shed another 7 points over the past 7 days. Lumber is now trading at almost half the cost it was 45 days ago, at the record high. Even with that kind of haircut, experts see prices […]
More housing supply is on the way, according to Canada’s national housing agency. New urban housing starts increased in May, shows Canada Mortgage and Housing Corporation (CMHC) data. The rise in activity is still below the peak seen earlier in the year. Similar to what’s happening in the US, starts have begun to fall from […]
Phew! Canadian real estate prices are soaring, so it’s a good thing you bought years ago, and are just waiting for it to be built. About that… The cost of building a new home has increased so fast, many developers are struggling with costs. Buyers who thought they secured a home at prices years ago, […]
Canada’s population growth may have slowed, but new home completions are still moving at a breakneck speed. Canada Mortgage and Housing Corporation (CMHC) data shows developers delivered over 50,000 new homes in Q4 2020. The number of new homes began outpacing population growth in the prior quarter. The ratio went parabolic in the latest numbers […]
Investment in home building is falling across Canada, especially in its largest real estate markets. Statistics Canada (Stat Can) data shows residential building construction investment was down in May. This trend is strongest in markets like Toronto, Vancouver, and Montreal – where investment has dropped at a faster rate than the national average. Canadian Residential […]
