Canadian real estate prices continued its downtrend last month, printing even larger losses. Canadian Real Estate Association (CREA) data shows the price of a benchmark (typical) home fell in October, despite a surge in sales. Prices continued to grind lower and are now similar to where they were 3 years ago. Surging home sales are […]
Canadian real estate remains pudding-soft, despite expectations that rate cuts would firm the market. Canadian Real Estate Association (CREA) data shows the price of a composite benchmark (typical) home fell in August. Weaker demand and rising supply were the general backdrop, as lower rates motivated more sellers to jump into the market than buyers. Experts […]
Canada’s largest real estate markets have seen sales plummet, helping inventories. That was the message from RBC, who warns that existing home inventories in the country’s major markets are rapidly replenishing. In a note to investors, they explain that a flurry of new home completions and the start of the monetary easing cycle is motivating […]
Canadian real estate is having one of the worst Spring markets on record. Canadian Real Estate Association (CREA) data shows home prices slipped lower in May. Continued weakness is the result of weak demand, which was expected to recover once rates were cut. Unfortunately for sellers, they overestimated how many buyers would appear ahead of […]
Canadian real estate sales are getting weaker and inventory is rising, but don’t let that get in the way of a solid narrative. Canadian Real Estate Association (CREA) data shows existing home sales fell in February. The same day also shows new listings climbing, essentially producing fundamentals that indicate a weaker market. That didn’t have […]
Canada’s real estate industry is lowering expectations for the market going forward. The Canadian Real Estate Association (CREA) revised its home sales forecast lower for the remainder of the year. They also see 2024 being slower than previously anticipated, as demand slows without central bank stimulus. Canada’s Real Estate Industry Revises 2023 Sales Lower Expectations […]
Canadian real estate has entered a deep freeze ahead of the declining winter market. CREA data shows a benchmark, or typical home, saw prices fall in November. Weak sales combined with healthier inventory has brought prices significantly lower. A typical home across Canada has now dropped over $140k in just a few short months. Canadian […]
Canadian real estate found its footing last month, according to the industry. However, Canadian Real Estate Association (CREA) data tells a completely different story in the October numbers. Yes, seasonally adjusted home sales were higher than the month before, but it was still the worst October since the Global Financial Crisis. Home prices also saw […]
The Canadian real estate boom is dead and experts see an inevitable correction. Canadian Real Estate Association (CREA) data shows home sales dropped in April. Higher mortgage rates and unsustainable prices have vaporized demand, as markets adjust. As big as the drop in demand was last month, economists think we’re just getting started. Canadian Real […]
One of the world’s largest economies is handcuffed to over-leveraged home buyers. An analysis from Oxford Economics looks at two rate hike scenarios in Canada. Tony Stillo, the firm’s chief economist, expects the Bank of Canada (BoC) to hike interest rates slowly. If the central bank takes this path, all households will bear the burden […]
