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Canadian Real Estate Cooldown Is Just Getting Started: BMO

June 21, 2022June 22, 2022

Canadian real estate has another indicator showing higher rates are tempering the market. A new analysis from BMO Capital Markets shows housing-related retail sales fell in April. They attribute this to  higher rates, and see this as a direct follow up to falling real estate sales. Activity remains elevated but BMO sees things slowing further […]

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Canada

Canada Just Saw The Sharpest Pullback For Housing Investment Since 2009

November 30, 2021December 1, 2021

Canadian real estate prices are rising, but investors are quietly pulling back. In fact, they’re withdrawing their capital at one of the fastest rates in history. Statistics Canada (Stat Can) data shows residential investment dropped sharply in Q3 2021. This is the component of GDP that covers real estate’s most direct economic output. The GDP […]

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Canada

Canadian Home Renovation Loans Make A Sharp Drop, Falling To 2013 Levels

June 22, 2021

The Canadian renovation boom is slowing, or at least the debt to finance it has. Bank of Canada (BoC) data shows loans for home renovations made a sharp drop in the first quarter of 2021. The balance of these loans had seen a surge during the pandemic, but rolled back in the last quarter. It […]

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Canada

The Canadian Property Bubble Pushed Renovation Spending To Over 3% of GDP: BMO

June 2, 2021June 2, 2021

Canada’s housing boom isn’t just home sales — it’s consuming the whole economy. BMO senior economist Robert Kavcic crunched home renovation numbers for Q1 2021. The bank found household spending on renovations hit a new high last quarter. Spending in this segment is growing so fast, it now represents a record share of the economy. […]

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Canada

Canadian Retail Spending Is Up, And Nearly A Third of Growth Was Building Supplies

April 28, 2021April 28, 2021

Many Canadian retail stores closed, but households are still finding ways to spend. Statistics Canada (Stat Can) data shows retail spending made a big jump in February. The rise in sales was strong in the building materials and gardening categories. Combined, both of those trends represented nearly a third of all annual growth. The combination […]

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