Canadian real estate sales continue to cool. Canadian Real Estate Association (CREA) numbers show sales dropped to a multi-year low for December. Weakness was on display across the country, with only one major market seeing minor growth. Canadian Real Estate Sales Make Largest December Drop Since 2012 Canadian real estate sales printed on of worst […]
Canadian real estate prices saw weakness in the second half. The Teranet–National Bank of Canada House Price Index (Teranet HPI) shows more than half of major urban markets saw declines in December. Two of the largest, Toronto and Vancouver, were just off of all-time highs, but yet to print a correction. Meanwhile, Montreal has hit […]
Toronto is expecting a lot more real estate supply, and that’s going to be a drag on rental price growth. Urbanation, a leading research firm for developers, is forecasting a big drop in the rate of growth for apartment rental rates in 2019. The firm expects the rise in new apartments to trim growth in […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Mortgage Growth Keeps Dropping, Prints New 17 Year Low Canadian mortgage growth dropped to a multi-year low. The balance of outstanding mortgage credit reached $1.53 trillion in November, up 3.2% from last year. While the dollar amount is at […]
Canadians love real estate so much, they’ve sent price growth higher than almost all of its peers. US Federal Reserve numbers show the market had the highest price growth of any G7 country, as of 2018 Q3. Just last year, prices in Canada were the fastest growing annually in the group. This year, they’re the […]
‘Twas the night before Christmas, when all through the house – not a creature was stirring, not even a mouse. Well, except for Evan Siddall… fine, it was the afternoon and he was on Twitter. On Christmas Eve, the CEO of the Canada Mortgage and Housing Corporation (CMHC) defended mortgage stress testing. The head of […]
Toronto’s detached real estate market continued to get colder last month. Toronto Real Estate Board (TREB) numbers show prices stalled in December. The lack of price movement was due to a multi-year low for sales, and higher than typical inventory. The Price Of A “Typical” Detached Is Almost Flat Detached home prices didn’t move much […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Household Debt Is Back Above US Great Recession Numbers Canadian household debt to income ratio (DTI) are now above peak US levels. Household DTI reached 166.79% in Q3 2018, up 0.15% from last year. That might seem low if […]
Toronto real estate is printing new records, but not the good kind. Toronto Real Estate Board (TREB) numbers show prices increased in December, when compared to 12 months ago, but are still below peak. It was also the slowest December for sales in 6 years, with the second highest inventory in the same period. Toronto […]
Canadian households just demonstrated debt is more complicated than bank economists think. Statistics Canada numbers, adjusted by former Maclean’s business editor Jason Kirby, show Canada’s debt to income ratio made a huge jump in Q3 2018. Canadian debt to income levels are now back above the US pre-Great Recession peak. That level, which is notoriously […]
