Toronto is seeing fewer condo buyers, but they’re willing to pay more. Toronto Real Estate Board (TREB) numbers show the benchmark price of a condo apartment reached a new all-time high in February. Record prices came as sales dropped, and inventory climbed to a multi-year high for the month. Toronto Condo Prices Reach A New […]
House rich, cash poor Boomers across Canada are sending reverse mortgage debt soaring. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgage debt made a slight decline in January. The monthly decline didn’t slow the annual pace of growth all that much. Outstanding reverse mortgage credit is growing at […]
The once scorching hot Toronto new home market continues to cool. BILD GTA, a trade group representing GTA home builders, numbers show prices slipping in February. The slip wasn’t large, but combined with rising inventory and falling sales could get worse soon. Last month was the fewest sales for the month of February since the […]
Canadian real estate is cooling down even further from last year. Canadian Real Estate Association (CREA) numbers show the sales to new listings ratio (SNLR) declined further in February. The ratio, a relative measure of demand, showed more inventory and fewer sales are a broad trend. Markets taking the biggest hit are located in Greater […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate The Canadian Government Launches Predatory First-Time Buyer Mortgage Scheme The Government of Canada is taking steps to provide first-time buyers assistance, through “equity lending.” The move would see the government provide new homeowners with up to 10% assistance to buy […]
New home prices are dropping across Canada, according to the national statistics agency. The Statistics Canada (Stat Can) New Home Price Index (NHPI) shows a price decline for this past January. The decline is the first negative print for the index since the Great Recession. New Home Price Index (NHPI) The NHPI is a home […]
Looking to launder some cash? You might want to head over to Toronto, and use the real estate. A new Transparency International Canada (TI Canada) report studies the corporate ownership of Greater Toronto residential real estate. The organization took a dive through over 50,000 corporate purchases made from 2008 to 2018. Turns out at least […]
The Government of Canada is using taxpayer money to invest in real estate at near peak valuations. The Department of Finance revealed the 2019 Budget yesterday, including new housing measures. Most notable is the First-Time Home Buyer Incentive, which allows the CMHC, Canada’s national housing agency, to become an investor in your real estate. On […]
Toronto detached real estate buyers still haven’t warmed up to (slightly) lower prices. Toronto Real Estate Board (TREB) numbers show price growth continued to decelerate in February. The deceleration was the result of recession levels of sales, and a multi-year high. Prices are close to the same point as last year, with a deteriorating ratio […]
Canadian real estate markets are heading into the busy season with negative price growth. Canadian Real Estate Association (CREA) numbers show an annual decline for the price of a benchmark home in February. The decline for the benchmark is the first since 2009, and the first for the index outside of recession. Canadian Real Estate […]
