Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate The Last Time Canadian Household Debt Grew This Slow Was 1983 Canadian household debt hit a new record high, but the growth rate is decelerating. The balance of outstanding debt reached $2.16 trillion in December, up 3.1% from the year […]
Everyone knows the easiest way for a first-time buyer to buy a home, is to already own a home. The Toronto Real Estate Board (TREB) published results from its annual buyer survey. The survey asks recent and intending buyers about their experience, and gives the industry insights into their behavior. Most of it was not […]
Toronto real estate buyers demonstrated they are still exuberant, but there’s a lot less of them. Toronto Real Estate Board (TREB) numbers show prices climbed in December, but are off peaks. The month also came in at a multi-year for inventory, and the second fewest sales in 11 years. That sales number is likely to […]
If you’re looking for a new home in Greater Toronto, there’s a whack of supply that continues to rise. Altus Group numbers obtained from BILD show December inventory was the highest in years. The rising inventory came as the market saw the fewest new home sales since the Great Recession. Greater Toronto New Home Prices […]
Falling Canadian real estate sales are still taking a bite out of mortgage growth. Bank of Canada (BoC) numbers show mortgage debt reached a record high in December. Despite the record, the annual pace of growth fell to a multi-year low. In fact, it’s only been lower for one month, over the past 30 years. […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Sales Drop Over $38 Billion In Business Last Year Canadian real estate sales made a huge drop in dollar volume. Sales through the MLS racked up to $224.04 billion in 2018, down 17.78% from the year before. […]
Canadian real estate buyers spent a lot less cash last year. Canadian Real Estate Association (CREA) numbers show dollar volumes made a massive decline in 2018. The total amount spent on real estate resales made a massive drop, largely do to declines in Toronto and Vancouver. Why Look At Dollar Volume? Dollar volumes aren’t just […]
Canadian real estate exuberance is quickly cooling, but still above critical levels. The US Federal Reserve’s Reserve Bank of Dallas has published their quarterly update on global real estate exuberance. Canada’s numbers show buyer exuberance is down to a multi-year low, but is still very much exuberant. The Exuberance Index The exuberance index is the […]
Declines in Canadian real estate sales is really putting a drag on debt growth. Numbers from the Bank of Canada (BoC) show Canadian banks held a record amount of mortgage debt in Q3 2018. However, the record amount of mortgage credit is growing at the slowest pace in years. Canadian Banks Hold Over $1.25 Trillion […]
Canadian homeowners might find themself with less home equity accrued than planned. Bank of Canada (BoC) data shows a significant climb for variable rate mortgages in January. The rise in rates can leave existing borrowers paying more interest, and a lot less to principal. Variable Rate Mortgages Variable rate mortgages are when the interest rate […]
