Despite a lockdown due to the COVID-19 pandemic, thousands of people in Toronto still bought a home. Toronto Regional Real Estate Board (TRREB) data shows a big increase in March sales. The rise in sales was due to the first-half of the month, prior to the board’s request to stop face-to-face activity. Despite the request, […]
Greater Toronto real estate buyers rushed into the market, even amongst pandemic warnings. Altus Group data shows new home sales more than doubled in February. The impact on prices was mixed, as new single-family homes continued to fall. Condo apartment prices rallied to a new all-time high. The gap between the two narrowed to the […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate A Panicked Bank Of Canada Just Cut Interest Rates Back To Record Lows The Bank of Canada (BoC) made another unscheduled rate cut last week. The central bank’s policy rate is now just 0.25%, down 150 bps form a month before. […]
Canada’s national statistics agency is estimating monster growth for population. Statistics Canada (Stat Can) population estimates show fast growth in Q1 2020. The population is now estimated to be growing at the fastest pace in 3 years. Canada’s Population Estimate Grows At Fastest Rate Since 1990 Canada’s population is growing at the fastest pace in […]
Canadian real estate sales were BOOMING before the pandemic poured a bucket of ice water on it. Canadian Real Estate Association (CREA) data shows sales climbed the most in years. Part of the big numbers are due to the unusually slow start to last year, beefing up growth numbers. The growth was still expected to […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Reverse Mortgage Debt Tops $4 Billion For The First Time Ever Canadian reverse mortgage debt hit a new milestone. OSFI regulated banks held $4 billion in reverse mortgage debt in December, up 13% from last year. This is the first […]
Time for you cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Insolvencies Rip Higher, With Ontario Seeing The Fastest Growth Canadian insolvency filings have been rising very fast. There were 11,337 filings made in January, up 8.7% from a year before. The total amount filed in the 12-months ending in the […]
Greater Toronto real estate is off to the strongest year since the 2017 boom. Toronto Regional Real Estate Board (TRREB) data shows much higher prices in February. The increase in prices were largely the result of many more sales, and fast falling inventory. Greater Toronto Real Estate Prices Rise Over 10% The benchmark price of […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Grows Almost 5x GDP, Economy Hits Record High Dependency Canada’s FIRE industry is growing much faster than the general economy. GDP reached $1.98 trillion in Q4 at annual rates, up 1.6% from the previous quarter. Finance, insurance, and […]
Greater Toronto new home sales are back above typical volumes for the month. BILD and Altus Group data shows a big climb in sales this past January. The increase in sales helped to push condo apartment prices to a new all-time high. Meanwhile, single-family homes continue to spiral lower. House Prices Fall, While Condos Make […]
