Canadian real estate buyers were excitedly disregarding risk before the pandemic hit. The US Federal Reserve Bank of Dallas (Dallas Reserve) exuberance index shows expectations surged in Q1 2020. The index is designed to capture explosive price growth, detached from fundamentals. A single quarter isn’t enough to say the market is bound for further detachment, […]
Greater Toronto new home buyers are holding back, especially when it comes to condo apartments. Altus Group data shows prices increased in June, with new condos hitting a all-time high. The price increase was driven by low demand though, as sales almost completely halted. Fewer than one in five new homes were sold last month, […]
Toronto real estate is seeing sales bounce, just not in the condo market. Toronto Regional Real Estate Board (TRREB) data shows condo apartment sales had the weakest June in over a decade. This led to prices falling from peak, as inventory went in another direction – hitting the highest level in almost four years. Greater […]
Canadian real estate is seeing another demand side factor disappear – international students. Immigration, Refugees and Citizenship Canada (IRCC) data shows international student permit holders admitted, made a sharp decline in Q2 2020. The decline will continue into the fall, or drop further, as the government warns students may not be admitted due to the […]
Canada’s largest land registry and a Big Six Bank are starting to see a slowdown for Canadian real estate. The Teranet–National Bank House Price Index (TNB HPI) increased in June. National Bank economists warned this isn’t the bullish sign it appears to be. The index actually made the smallest increase for June in 17 years, […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Prices Grew Over 29x The Rate Of US Home Prices Canadian real estate prices have been growing at an unprecedented rate, especially in contrast to the US. The inflation adjusted price of a home in Canada is up […]
Canada’s largest real estate markets have seen a dramatic slowdown since the onset of the pandemic. Immigration, Refugees and Citizenship Canada (IRCC) data shows the number of permanent residents made a sharp decline in May. While Toronto and Vancouver can attribute this trend to the pandemic, it’s been a more long-term issue for Montreal. Toronto […]
Canadian real estate buyers haven’t been slowed down, and cheap cash may be fueling a new rally – at least for now. Canadian Real Estate Association (CREA) data shows the seasonally adjusted price of typical (benchmark) home, made big increases in June. The growth over the past 12 months has actually been so large, it […]
You may not be able to eat inside of restaurants, but tens of thousands of Canadians are home shopping. Canadian Real Estate Association (CREA) data shows real estate sales jumped to a multi-year high for June. The rise in sales may just be previous months of buyers catching up though. CREA’s chief economist warned the […]
Canada’s first-time buyers may be in for some volatility, and they don’t even know it yet. Earlier this year, the Canada Mortgage and Housing Corporation (CMHC) warned first-time buyers that leaving just a 5% downpayment could be problematic. If the market had a sudden sharp turn, they could suddenly see their downpayment wiped out in […]
