Canadian home builders have faced soaring labor and material costs, and now there’s confirmation. The Statistics Canada (Stat Can) building construction price index made a record climb in the second quarter of 2021. Costs jumped significantly higher for homebuilders, even if just compared to non-residential construction. Homebuilders saw the fastest increases in “hot” housing markets […]
Canadian real estate is cooling from record demand, and luxury homes are no exception. Global luxury brokerage Engel & Völkers (E&V) released its latest luxury market report. They looked at markets with homes priced over $1 million and found sales slowed recently. In the near term, this should help the market normalize and stabilize price […]
Toronto’s new home market is finally starting to cool, but it’s got a long way to go. Altus Group and BILD GTA data show new home sales were firm in June. Weakness in the city, especially for condo apartments, weighed on price growth though. Annual price growth is starting to slow, with condos even seeing […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Global Property Bubble To Correct, Canada Is The Second Riskiest: Oxford Economics Global real estate prices are forming a bubble, and a big economics firm sees it popping soon. An Oxford Economics analysis shows global home prices are 10% above the […]
Canadian real estate markets are losing some steam after its record year. Canadian Real Estate Association (CREA) data shows just over half of markets saw price growth slow in June. Looking more closely at recent numbers reveals this trend is about to become more common. All but a few markets are currently on track for […]
Canadian real estate has been experiencing a bit of a lull, and the new home market is no exception. Statistics Canada (Stat Can) data shows new home prices saw annual growth hit a multi-year high in June. The high was due to momentum though, as price growth had been decelerating more recently. Growth appears to […]
Canadian real estate inventory is improving, relieving pressure on home prices. We took a dive through the June sales to new listings ratio (SNLR) from CREA. While it helped to explain why price growth is slowing, we got a few emails asking if it was really due to falling sales. Or is inventory rising to […]
Canadian housing is cooling very fast, something few would believe a few months ago. Canadian Real Estate Association (CREA) data shows the national sales to new listings ratio (SNLR) fell in June. The measure, a proxy for demand, shows buyers are dropping out of the market faster than sellers. Most markets are now displaying this […]
Canadian real estate may have just peaked, according to official data this morning. Earlier this month we took a look at Toronto and Vancouver, and why the top for growth is here. Data from the Canadian Real Estate Association (CREA) confirms the same National trend. Home prices hit a new all-time high in June, and […]
Canadian real estate prices are rising at a breakneck speed — even with slowing sales. The RPS House Price Index (HPI) made a huge leap in June for almost all markets. It didn’t matter where, even small towns have begun to outperform big cities. Let’s dive into the frothy month Canada just had. Canadian Home […]
