Canadian real estate owners reached a new debt milestone. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate reached a new high in April. The new high is the first-time in history the balance has passed the $300 billion mark. Loans Secured By Residential Real […]
Some Canadian real estate buyers are blowing off last year’s decline in sales. Canadian Real Estate Association (CREA) numbers show sales made a large increase in May. The rise, while substantial, failed to bring volume to historically significant levels. Last month’s sales still fall short of the average. Canadian Real Estate Sales Jump, But Fall […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Vancouver Real Estate Is No Longer The Country’s Most Expensive Market The price of a typical home across Canada is getting cheaper for the first time in years. The benchmark price across the country fell to $624,400 in May, down […]
Canadian real estate prices are moving higher seasonally, but the annual change is diving further down. Canadian Real Estate Association (CREA) numbers show prices made an annual decline in May. The decline didn’t have a significant impact, with a number of markets even printing an all-time high. However, the decline does demonstrate a major shift […]
The Greater Vancouver detached real estate scene is looking worse. Real Estate Board of Greater Vancouver (REBGV) numbers show prices fell to a three year low in May. The drop in prices came with the fewest May sales in over a quarter century. Greater Vancouver Detached Real Estate Prices Roll Back 3 Years Detached real […]
Canada has a lot of housing in the works. CMHC numbers show construction of new houses in the county’s largest cities picked up in May. The increase puts the number of homes being built at an all-time record high. Canadian Real Estate Under Construction Has Never Been Higher Residential real estate under construction in Canada’s […]
The Canadian real estate slowdown is putting a drag on GDP numbers. Statistics Canada (StatCan) numbers show residential investment fell for a fifth consecutive quarter in Q1 2019. Historically, a decline in residential investment in countries with high levels of ownership are a recession flag. Residential Investment and Why You Care Residential investment (a.k.a. residential […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Debt Hits A New Record, $1.56 Trillion Outstanding Canadian mortgage debt reached a new all-time high. There was over $1.56 trillion in mortgage debt outstanding in April, up 3.2% from last year. While there is some growth, it’s extremely […]
Greater Vancouver real estate didn’t experience that spring bounce people were expecting. Real Estate Board of Greater Vancouver (REBGV) numbers show prices are down in May. The decline in prices was largely due to a sharp decline in sales, and an increase in inventory. Vancouver Real Estate Prices Drop Over 8% The price of a […]
Slower Canadian real estate sales are putting a drag on mortgage credit growth. Bank of Canada (BoC) numbers show outstanding mortgage credit reached a new record high in April. The new record came with stalled growth, but there were some signs a small bump could be on the way. Canadians Owe Over $1.56 Trillion In […]
