Canada’s largest land registry and a big six bank are seeing a slight recovery, but things are beginning to trend lower. The Teranet–National Bank House Price Index (TNB HPI) shows prices increased in July. The increase however, was the smallest for the month in 15 years, and is actually a decline before seasonal adjustments. Canadian […]
Canada’s largest real estate markets have seen a dramatic slowdown since the onset of the pandemic. Immigration, Refugees and Citizenship Canada (IRCC) data shows the number of permanent residents made a sharp decline in May. While Toronto and Vancouver can attribute this trend to the pandemic, it’s been a more long-term issue for Montreal. Toronto […]
The pandemic has cooled down most Canadian real estate markets, and not just sales volumes. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) is deteriorating in most major markets. Since February to May, all but three large markets saw inventory rise faster than sales. This trend appears to accelerate […]
Already unaffordable Canadian real estate became a little less affordable during the pandemic. RBC, Canada’s largest banks, updated their housing affordability data for Q1 2020. The bank observed worsening affordability, meaning housing required more income last quarter. This was due almost entirely to Ontario, as other regions saw affordability improve. Canadian Affordability Is Still Getting […]
Canada’s state-owned mortgage insurer sees prices dropping in major real estate markets. The Canada Mortgage and Housing Corporation (CMHC), is forecasting price declines across Canada. This week they provided additional data, showing the expected impact to major markets. The agency sees Toronto and Vancouver falling from last month’s prices, even in a best case. As […]
Canada’s national statistics agency is estimating monster growth for population. Statistics Canada (Stat Can) population estimates show fast growth in Q1 2020. The population is now estimated to be growing at the fastest pace in 3 years. Canada’s Population Estimate Grows At Fastest Rate Since 1990 Canada’s population is growing at the fastest pace in […]
Canadian investment in construction of residential real estate has returned. Statistics Canada (Stat Can) data shows investment in residential building increased in December. The level of growth isn’t as high as it was just a few years ago. However, growth has been accelerating since the end of the election. Canadian Residential Investment Rises To $97 […]
Income growth is tepid, according to new data from Canada’s national statistics agency. Statistics Canada (Stat Can) data shows the median after-tax income of families and unattached individuals was nearly flat in 2018. That’s not incredibly surprising, however drilling down there’s some interesting details. Most notable to us – the pricey real estate markets of […]
Canadian real estate buyers are facing less inventory, and more competition. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) increased in most markets this past January. The rising ratio, used to help understand demand, reached a “seller’s market” last month. Not just in one place either – the whole […]
Canadian real estate prices have resumed their climb, alongside rising inflation. The Teranet – National Bank of Canada House Price Index (TNB HPI) climbed in December. The modest increase is due to weakness in just a few regions. Eastern Canada, including Ontario and Quebec, are seeing prices climb very quickly. Western Canadian real estate prices […]
