Lumber prices continue to spiral lower, and that might be a good thing for home prices. The commodity surged throughout the pandemic, hitting an absurd high in May. Since then, prices have plummeted back to reality at a rapid pace, wiping out all of this year’s gains. This can result in a huge discount for […]
Lumber prices are still making a nose dive, as supply catches up and demand softens. Last week we mentioned lumber prices have officially crashed from their all-time high. This week BMO economist Carl Campus wrote to clients that prices have fallen below US$1,000/mbf. This is the first time it fell below that mark since March. […]
The recent surge in lumber prices helped to push home prices higher, but now they’re crashing. Lumber prices closed today nearly 30% below the all-time high reached in May. The recent surge in prices pushed builder costs up by tens of thousands of dollars. This sent new home prices much higher, leading to an interesting […]
More data from Canada’s national statistics agency shows home builder costs are soaring. The Statistics Canada (Stat Can) residential construction cost index surged higher in Q1 2021. Since the issue is largely material related, the impact is across Canada. Cities like Toronto, with recent building booms, are seeing costs jump the most though. Canadian Home […]
North American lumber prices are soaring, sending homebuilding costs higher with it. The good news is, relief may be just around the corner. BMO Capital Markets updated its Benchmark Western Spruce-Pine-Fir (SPF) lumber forecast for April. The bank sees lumber prices dropping in the second half of the year. By 2022, they expect lumber prices […]
Canadian real estate prices are moving higher, but not all markets are equal. Statistics Canada (Stat Can) updated the Residential property price index (RPPI), showing prices increased in six major markets. Breaking those numbers down, the biggest lift to the index is condo apartment resales. Meanwhile, new condo construction is seeing prices fall. Residential Property […]
Canada’s recent real estate price boom is creating a lot of incentive for development. Canada Mortgage and Housing Corporation (CMHC) data show housing under construction jumped in Q4 2019. The number of homes currently being built across Canada is now at the highest level since… uh, ever. Canada Has Never Build This Much Housing At […]
Canada’s most expensive new condo markets saw price gains cool in the most recent quarter. Statistics Canada (StatCan) data shows new condo apartment prices saw growth slow in Q2 2019. Both Toronto and Vancouver saw flat to negative price growth in the quarter. Ottawa and Victoria on the other hand, saw prices soar, with the […]
New housing construction is grinding to a halt across Canada. Canada Mortgage and Housing Corporation (CMHC) numbers show a sudden drop in new housing starts in September. The drop sent starts to the lowest levels in nearly two years, and here’s why that’s important for the economy. Here’s Why You Care About Housing Starts Housing […]
Toronto real estate is about to get a whole lot of supply. Canada Mortgage and Housing Corporation (CMHC) numbers show Toronto CMA is just under the all-time high for homes under construction. Over 3 out of 4 of those units under constructions are condo apartments. The number of condos under construction vs population increase ratio, […]
