Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Went From A Shortage To Surplus, Starts Plunge Canada’s new home starts fell to a SAAR of 245,800 units in August, down 16% from July. But this isn’t a problem of red tape—approved permits hit a record ~350,000 units, […]
Toronto’s real estate bubble just lost another key pillar: jobs. Statistics Canada (StatCan) data shows the Toronto CMA unemployment rate is nearing double-digits, with Mississauga and Brampton already well above 10%. What was once one of the country’s strongest job markets is now cracking—raising questions about short-term value and the long-term sustainability of a housing […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Is Crashing At One of The Fastest Rates Ever Canadian real estate is in the middle of one of the sharpest corrections on record. Real home prices have dropped 24.2% since Q1 2022, making it the second-deepest decline ever, […]
Greater Toronto real estate’s recovery slipped beyond the horizon in August, despite a small bump in buyers. TRREB data shows a minor year-over-year increase in sales, but demand remains near historic lows and far from normalizing. At the same time, more sellers flooded the market, pushing inventory to a record high and forcing deeper price […]
Canadian real estate is even cooler than most realize. Since hitting a record high three years ago, real (inflation-adjusted) home prices have fallen sharply, according to data from the US Federal Reserve Bank of Dallas (Dallas Fed). Once thought an invincible and sure bet, Canadian real estate is in the middle of the second-largest price […]
More Canadian real estate sellers are pulling listings, as market conditions loosen. Canadian Real Estate Association (CREA) data shows the share of canceled listings climbed in July, continuing an upward trend amid rising inventory. The elevated share of cancellations, combined with higher inventory, has pushed volumes to a record high. A wave of new completions […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Originations Rise 27%, Second Biggest Month On RecordCanadian mortgage originations hit $40.7 billion in June, up 27.5% from last year—making it the second-biggest month on record. That kind of surge would normally signal renewed housing demand, but not this time. […]
It always goes up—until it doesn’t. Once thought invincible, the Toronto condo market is in freefall and about to hit reality. Toronto CMA condo starts plunged further in July, and RBC economists see weak pre-construction sales pushing them even lower. The bank counters the claim that red tape is holding development back, instead attributing the […]
Canadian condo apartments are sliding after dodging much of the housing correction. Canadian Real Estate Association (CREA) data shows benchmark condo prices fell for a fourth straight month in July, marking the start of a second wave of losses. Canadian Condo Apartment Prices Fall To A 4-Year Low Canadian benchmark condo: The price of a […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Organized Real Estate System Dealt A Blow In Class Action Settlement A large regional brokerage dealt a blow to Canada’s organized real estate system this week. RE/MAX Ontario-Atlantic Canada (OAC) agreed to settle a class action challenging mandatory board membership and […]
