Time for your cheat sheet on this week’s top stories. Canadian Real Estate What Slowdown? Canadian GDP Tops BoC Call, Past Data Gets More Revisions Canadian GDP is growing much faster than the Bank of Canada (BoC) anticipated. Statistics Canada (Stat Can) released Q4 GDP data that shows annualized growth came in nearly a point […]
Canadian real estate markets kicked the year off with exceptionally weak demand. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) slipped in January. Despite a host of measures to stimulate buying, the demand measures continued to erode as sellers significantly outpaced buyers. The issue has the county’s largest markets […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadians Satisfied With Their Quality of Life Plunges Further Canada is further turning into a country of haves and have-nots, according to a state survey. Statistics Canada released the latest quality of life survey results, and all but one age group is […]
Greater Toronto real estate’s bad year ended even worse. Altus Group data showed Greater Toronto Area (GTA) developers saw demand slip further in December, as new home buyer incentives failed to stimulate new demand. As a result, the market accumulated the most year-end inventory in nearly a decade—nearly 2.5x the amount available in 2021’s tight […]
Canada’s largest city is commonly known as the country’s economic capital, but that may change soon. Statistics Canada (Stat Can) data shows the Toronto CMA region added tens of thousands of jobs in January, but added even more unemployed people. Nearly 1 in 11 of the region’s workers are now actively unemployed and seeking work—a […]
Greater Toronto real estate prices are back, and it appears it’s being driven entirely by exuberance. TRREB data shows that home sales fell in January, while inventory surged. The demand balance showed some of the weakest sales on record, traditionally applying downward pressure on prices. However, the optimism over mortgage rules changing gave a handful […]
Canadian real estate isn’t getting much of a boost despite lower rates and billions in stimulus. Canadian Real Estate Association (CREA) data shows the price of a typical home (composite benchmark) slipped lower in December. Despite plunging rates, most provinces saw prices grind lower and all but one remained lower than the record high. Meanwhile, […]
Canadian real estate sales are picking up but prices haven’t budged, and they aren’t expected to in the near future. BMO Capital Markets believes the Great Canadian real estate stagnation may have just kicked off. Despite a sharp cut to interest rates and normalization of buyer volumes, prices are still moving sideways. Those expecting a […]
Canadian policymakers worried about temporary residents overstaying their visas can rest easy. Statistics Canada (Stat Can) data shows that non-permanent residents left the country in record volumes in Q3 2024. New limits announced in Q4 has elected officials publicly voicing concerns that these residents may overstay their visas. However, that concern seems overblown considering the […]
Toronto is out and Saskatoon is in—at least for those looking for a robust job market. That’s the take from BMO’s latest labor market rankings of Canada’s 33 largest cities. The country added tens of thousands of jobs, but surging population growth means some cities did worse than others. Places like Toronto saw a sharp […]
