Canadian real estate developers are scrambling to get shovels in the ground. Canadian Mortgage and Housing Corporation (CMHC) data shows new home starts jumped in July. The surprisingly fast bounce in starts means Canada is seeing the most starts since 2017 – despite the pandemic. Canadian New Home Starts Reached The Highest Level Since 2017 […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate CMHC: Toronto And Vancouver Real Estate Delinquencies Rise, While The Rest Of Canada Falls Toronto and Vancouver mortgage delinquencies are rising, while the rest of the country falls. The national rate of delinquencies reached 0.29% in Q1 2020, down 3.3% from […]
Greater Vancouver real estate was surprisingly busy for the middle of a pandemic. Real Estate Board of Greater Vancouver (REBGV) data shows sales ripped higher in July. The increase in sales was enough to push prices higher, but they remain below pre-pandemic levels. Greater Vancouver Real Estate Prices Just Below Pre-Pandemic Levels Greater Vancouver real […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Bank Of Canada Pumping Billions Into Mortgage Liquidity To Prop Up Real Estate Canada’s central bank has pumped billions into the mortgage market, in attempt to prop it up. As of July 22, the Bank of Canada held $7.95 billion in […]
The pandemic drove Greater Vancouver new home sales off a cliff, but things have improved… a little. MLA Canada, a Vancouver-based real estate firm specializing in condo pre-sales, observed an increase in absorption for June. Despite unusual market conditions and a bump from lows, absorption is the same rate as last year. Although the current […]
Canadian real estate buyers were excitedly disregarding risk before the pandemic hit. The US Federal Reserve Bank of Dallas (Dallas Reserve) exuberance index shows expectations surged in Q1 2020. The index is designed to capture explosive price growth, detached from fundamentals. A single quarter isn’t enough to say the market is bound for further detachment, […]
British Columbia is running out of first-time buyers, despite falling prices. Government of British Columbia filings show first-time homebuyers made a small increase in June, compared to the month before. However, this increase wasn’t big enough to reach last year’s levels. The province continues the multi-year trend of declining first-time homebuyers. B.C. First-Time Homebuyers Drop […]
A lot of Greater Vancouver condo owners all had the same idea – last month was the perfect month to sell. Real Estate Board of Greater Vancouver (REBGV) data shows June saw the largest single-month surge of new condo apartment listings in at least half a decade. While sales did also rise from last year’s […]
Canadian real estate is seeing another demand side factor disappear – international students. Immigration, Refugees and Citizenship Canada (IRCC) data shows international student permit holders admitted, made a sharp decline in Q2 2020. The decline will continue into the fall, or drop further, as the government warns students may not be admitted due to the […]
Canada’s largest land registry and a Big Six Bank are starting to see a slowdown for Canadian real estate. The Teranet–National Bank House Price Index (TNB HPI) increased in June. National Bank economists warned this isn’t the bullish sign it appears to be. The index actually made the smallest increase for June in 17 years, […]
