Canadian real estate prices are approaching a mile-long stretch of hurdles. Easy credit conditions are being rapidly reversed, and then some, according to BMO Capital Markets. The bank warned clients of a laundry list of measures designed to cool the market, all hitting at once. They’ll have a limited impact compared to the big market […]
Canadians are packing up and leaving at a fast rate, during a traditionally slow period. Statistics Canada (Stat Can) data shows emigration, the act of leaving permanently, jumped in 2021. The past year showed modest gains, rising to the highest level in half a decade. The fourth quarter is what sticks out though, showing a […]
Canadian real estate prices are surging like never before, but the market is cooling. Canadian Real Estate Association (CREA) data shows the inventory pressure eased in February. Despite big price gains, the SNLR revealed cooling conditions in 80% of major markets. Demand is forecast to cool further as rates rise and locked-in mortgages disappear. Sales […]
We’re only two months into the year but Canada’s real estate market is seeing the inventory story change fast. An analysis from RBC shows key markets have seen inventory improve for February. The bank hesitates to call it a trend, but markets are getting close to “balanced.” As interest rates rise, home sales are expected […]
Canadian real estate prices aren’t slowing down from the threat of higher rates. In fact, Canadian Real Estate Association (CREA) data shows the opposite for January. Over just one month, real estate markets have seen a “typical” home rise up to six figures from a month before. A Typical Home Across Canada Now Costs $825,000 […]
More Canadians are working at home and realizing their home doesn’t have to be in the same province. Statistics Canada (Stat Can) studied people working from home for an employer in another province in Q1 2022. The agency found the trend is surging in growth, as remote work becomes more common. Distant suburbs of cities […]
The call is coming from inside the House. Canadian real estate is significantly overvalued, according to the government’s own research. A new report from the non-partisan Parliamentary Budget Officer (PBO) dropped this week. It looks at housing affordability, and is meant to give policymakers a primer on the issue. The report concludes real estate prices […]
Canada’s recent housing boom is expected to satisfy demand for years. Last year, the country saw 271,200 new homes begin construction, up a whopping 25.1% from a year before. This is just under the record reached in 1976, and obviously much higher than normal. That might have been the top of this cycle, according to […]
Canadians are fleeing expensive cities and heading to distant small towns. RBC economist Carrie Freestone looked at population growth in their latest research note. The bank found “resort towns” are seeing the fastest growth in the country. In general, distant suburbs of major cities are growing the fastest. This can create a long-term boom for […]
As public health restrictions linger, more companies realize they don’t need office space. Statistics Canada (Stat Can) data shows new public health restrictions had more people work from home in January. Nearly a quarter of labor now permanently works from home, with that share rising sharply in big cities. The shift can change cities from […]
