Greater Toronto real estate prices are suddenly back to correcting, despite a mini-boom. Toronto Regional Real Estate Board (TRREB) data shows home prices fell in July. Rising interest rates are the first thought, but home sales are still climbing. Home buyers just aren’t able to keep up with sellers—new listings are climbing much faster than […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Rising Unemployment Is A “Foolproof” Recession Signal: BMO Canada’s latest employment data shows a “foolproof” recession signal, according to BMO. The rising unemployment rate was written off as an anomaly, due to the population boom. Economists at the bank suggest that’s […]
Canadian real estate’s brief bounce is beginning to fade. Canadian Real Estate Association (CREA) data shows existing home sales climbed in June, with prices also climbing. However, price growth is notably decelerating at a rapid rate, with new inventory now outpacing sales. Canadian Real Estate Prices Are Showing Signs Of Fatigue Canadian real estate prices […]
Canada’s economy continued to add jobs last month, but it wasn’t good news. Statistics Canada (Stat Can) data show the country added a huge number of new jobs in June 2023. However, the massive gains weren’t enough to prevent the unemployment rate from rising. That’s right—Canada’s record population growth is outpacing its ability to create […]
Canadian real estate market activity is cooling, warned the country’s largest bank. RBC observed supply in virtually every major market rose in June. At the same time, they note that sales are growing at a much slower rate than in previous months. If the current market conditions hold, they expect price appreciation to grind lower. […]
Greater Toronto real estate wasn’t looking as confident as it had been recently. TRREB data shows the price of a typical home (composite benchmark) climbed in June 2023. However, the increase was notably smaller than recent months, potentially indicating slowing momentum. At the same time, some affluent suburbs returned to falling prices—one dropping as much […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Makes The 90s Real Estate Bubble Look Like Affordable Housing Canadian real estate became just a little more affordable, according to the RBC Affordability Index. A median household would need to spend 59.5% of its income on debt servicing to buy […]
Most Canadian households are shying away from new credit, as higher interest rates lower incentive. Though there remains an exception, according to new data from TransUnion. The credit reporting giant found that new account growth for every type of credit fell in 2022, with credit cards being the exception. That trend may be problematic when […]
Canadian inflation is showing some encouraging signs, but the devil’s in the details. Statistics Canada (Stat Can) reported the growth rate for the Consumer Price Index (CPI) saw annual growth fall much lower than the market had forecast for May. BMO saw that as encouraging, but warns short-term growth isn’t budging, and that will reinforce […]
Canada’s largest real estate market is finally beginning to show some cracks. Equifax data reveals that Toronto mortgage delinquencies climbed again in Q1 2023. It’s inline with national data, which revealed increased mortgage delinquencies across the country. Normalization is expected after hitting record low rates, but it’s surprising to see since lenders are going to […]
