Greater Toronto real estate is still a tight market, but all of a sudden it has a lot more inventory. Toronto Regional Real Estate Board (TRREB) data shows prices ripped higher in February. Positive price growth news didn’t just end there though, as the market actually saw annual growth accelerated. Oddly enough, this occurred as […]
Greater Toronto new home sales ripped to a new high last month. BILD and Altus Group data shows new homes had the biggest January ever, with tight inventory. Despite the perfect conditions for higher home prices, they did the opposite. The cost of a typical single-family home fell by tens of thousands of dollars, while […]
Time For your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Bubble Sentiment Is Collapsing Fast: US Federal Reserve Data Canadian real estate bubble sentiment is collapsing but remains frothy. A US Federal Reserve model shows Q3 2021 was the 26th quarter the market showed exuberance. That means the […]
Canadian real estate prices aren’t slowing down from the threat of higher rates. In fact, Canadian Real Estate Association (CREA) data shows the opposite for January. Over just one month, real estate markets have seen a “typical” home rise up to six figures from a month before. A Typical Home Across Canada Now Costs $825,000 […]
Ontario rental evictions cratered during the initial public health restrictions. Government of Ontario data shows that rental evictions dropped sharply for the 2020-2021 period. The impact was likely short-lived, with the current period already rising more briskly. As public health restrictions are lifted, expect applications for evictions to normalize. That can mean double the filings […]
More Canadians are working at home and realizing their home doesn’t have to be in the same province. Statistics Canada (Stat Can) studied people working from home for an employer in another province in Q1 2022. The agency found the trend is surging in growth, as remote work becomes more common. Distant suburbs of cities […]
Canada’s recent housing boom is expected to satisfy demand for years. Last year, the country saw 271,200 new homes begin construction, up a whopping 25.1% from a year before. This is just under the record reached in 1976, and obviously much higher than normal. That might have been the top of this cycle, according to […]
Canadians are fleeing expensive cities and heading to distant small towns. RBC economist Carrie Freestone looked at population growth in their latest research note. The bank found “resort towns” are seeing the fastest growth in the country. In general, distant suburbs of major cities are growing the fastest. This can create a long-term boom for […]
A prominent skeptic of Ontario’s ambitious housing plan has emerged — Canada’s oldest bank. The province’s Housing Affordability Task Force released a plan to build 1.5 million homes over 10 years. BMO senior economist Robert Kavcic dumped a bucket of cold water on the plan. Not only does the bank say it doesn’t make sense, […]
As public health restrictions linger, more companies realize they don’t need office space. Statistics Canada (Stat Can) data shows new public health restrictions had more people work from home in January. Nearly a quarter of labor now permanently works from home, with that share rising sharply in big cities. The shift can change cities from […]
