Canada’s real estate industry has seen a smaller impact than the general economy during the pandemic. Statistics Canada (Stat Can) data shows residential investment fell in Q2 2020. The drop was smaller than the one GDP made though, meaning the economic dependency on real estate grew. At least for the next few months. Residential Investment […]
Greater Vancouver new home sales are still unusually soft. MLA Canada data shows pre-sales for new homes fell in July. The decline slowed new inventory launches, with over half of expected units delayed. Even with the delays, there was a significant increase in new inventory. Only 31 Pre-Sale Homes Were Sold In July The number […]
Vancouver real estate has seen a big boost in buying activity, even condos. Real Estate Board of Greater Vancouver (REBGV) data shows sales jumped in July. The increase isn’t translating into the price gains seen in the general market though. This is due to the large number of new listings for condos, which hit the […]
Canada’s largest real estate markets partially attribute fast climbing prices to immigration. However, with a significant decline in permanent residents, prices have yet to slow down. Government of Canada (GoC) data shows new permanent residents admitted to major markets dropped in June. The decline was most notable in Toronto and Montreal, where numbers are down […]
Canada’s largest land registry and a big six bank are seeing a slight recovery, but things are beginning to trend lower. The Teranet–National Bank House Price Index (TNB HPI) shows prices increased in July. The increase however, was the smallest for the month in 15 years, and is actually a decline before seasonal adjustments. Canadian […]
Canadian real estate prices aren’t the only thing outpacing growth in the rest of the G7, so is debt. New data from the International Monetary Fund (IMF) shows the Canadian household debt to GDP ratio reached a new record high in Q1 2020. The data shows a clear pattern of rapid expansion of the indicator […]
Canadian real estate buyers are shrugging off the pandemic, as a temporary inconvenience. Canadian Real Estate Association (CREA) data shows prices made a huge increase in July. Not just in known “hot” markets like Toronto, and Montreal either. Substantial monthly increases were seen in almost every real estate market across Canada. Canadian Real Estate Prices […]
Canadian real estate sales hit a new high, along with the highest unemployment in history. Canadian Real Estate Association (CREA) data shows the number of home sales set a record in July. Not just for the month either – it was the biggest month ever. Here’s why the surge was largely expected, and isn’t the […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada Doubled Down On Real Estate In 2005. Now It’s The Biggest Bubble The G7 Has Ever Seen, And It’s Getting Bigger Canadian real estate prices have grown rapidly, but it’s not clear how much more rapidly it grew than its […]
Canada’s national housing agency discreetly asked lenders to curb risky lending. Evan Siddall, the head of the Canada Mortgage and Housing Corporation (CMHC) sent a confidential memo to lenders this week, requesting they tighten lending. Instead of taking the advice, the industry leaked parts of the memo. The CMHC has responded by releasing the whole […]
