Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Condo Buyers At The Beginning Of The Pandemic Now Nearly Underwater Canada’s state-owned mortgage insurer warned first-time buyers to be careful at the beginning of the pandemic. Now buyers that ignored the advice, are finding out what they were talking […]
First-time homebuyers were warned at the beginning of the pandemic, and a lot didn’t listen. Now some are seeing exactly what the Canada Mortgage and Housing Corporation (CMHC) warned. Canadian Real Estate Association (CREA) condo apartment price data shows a few markets have seen buyers lose a chunk of their down payment. There are some […]
Canada’s population is growing at the slowest pace in years, but buyers are facing a busy market. Canadian Real Estate Association (CREA) data shows record home sales for September. The increase in home sales is largely due to a seasonal shift, after the lockdown. Canadian Real Estate Sales Are Up 46% Canadian real estate sales […]
Canadians are beginning to resume paying their mortgages, after many requested deferrals. Canada Mortgage and Housing Corporation (CMHC) broke down insured mortgage payment deferrals in August. At a national level, CMHC is seeing the rate of payment deferrals similar to the general market. Broken down by city, we see the most expensive markets are overrepresented. […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Why Canada’s Condo “Insurance Crisis” Should Make Investors Nervous The Canadian insurance industry is discussing a coverage “crisis” coming to condos. Due to rising replacement values, and smaller margins, insurance companies are dropping coverage. This comes while demand for this type […]
Canadian condo investors are facing another risk – rising insurance premiums. The event, which the industry is calling the “condo coverage crisis,” saw premiums rise at the end of last year. This trend of higher rates is expected to persist into the future, as replacement values and insurance demand continue to rise. The rising premiums […]
Greater Vancouver real estate had a huge month for sales, but condos are showing weakness. Real Estate Board of Greater Vancouver (REBGV) data shows composite prices grew in September. Breaking down the price trend by segment, we see two different markets. Detached prices are higher than the month before, with the annual rate of growth […]
One of the world’s largest banks is seeing real estate bubbles across the world. UBS analysts published their 2020 Bubble Index, noting this many markets haven’t increased at once since 2006. In Canada, Toronto lost it’s spot as the world’s second biggest bubble to Frankfurt. Despite slipping in rank, the bank is noting fundamentals continue […]
Canadian real estate buyers are starting to ghost sellers, after making offers. Marvin Alexander, president of Keller Williams Realty Centres, a Greater Toronto-based brokerage, notes an unusual uptick of buyers not delivering deposit cheques. He’s not alone. The broker is hearing similar stories from other brokerages across Greater Toronto, and suspects it might be a […]
Canadian real estate hasn’t been this busy in a long time, yet condo apartment prices are sliding. Canadian Real Estate Association (CREA) data shows condo apartment prices have fallen during the pandemic. While prices are still up in August, compared to last year – they generally peaked in April. Only three markets have been able […]
