Canada’s largest bank is calling the top for real estate prices in the near term. RBC economists took a dive through the latest Canadian real estate sales for May 2020. In addition to noting prices have stalled, they believe the bounce in sales is overstated. Combine this with an observation on supply outpacing demand, and […]
Canada’s immigration has slowed due to the pandemic, at least for a few months. Immigration, Refugees and Citizenship Canada (IRCC) data shows a steep decline in the number of new permanent residents in April. The drop is one of the sharpest in recent history, with large real estate markets most impacted. Fewer Permanent Residents Admitted […]
One of Canada’s Big Six banks is joining the CMHC and credit risk agencies in forecasting lower prices. National Bank of Canada (NBC) economists expect real estate prices to make a sharp drop this year. The bank is calling what would be the largest price drop in Canada’s history, with Toronto and Vancouver hit hardest. […]
Canadian real estate markets may be getting another inventory headwind soon. National Bank of Canada (NBC) research estimates AirBNB hosts may contribute to oversupply later this year. As the slowdown impacts hosts, many may be incentivized to sell. By their estimates, just a quarter of hosts selling would cause inventory in cities like Toronto and […]
Greater Vancouver real estate is still adjusting to the pandemic, but buyers seem to be more deterred than sellers. Real Estate Board of Greater Vancouver (REBGV) data shows the price of a typical home made a significant monthly decline in May. Inventory fell from last year’s levels, but didn’t drop nearly as much as sales […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate CMHC’s Canadian Real Estate Price Forecast Shows Big Drops In Ontario And BCCanada’s national housing agency gave a detailed breakdown of its real estate price forecast. Prices are expected to fall later this year, and continue into 2021. The forecast ends […]
Canada’s national housing gave the Canadian real estate industry a further peek at what they expect for prices. The Canada Mortgage and Housing Corporation (CMHC) explained last week that price declines are expected across the country. Now they’ve provided a breakdown of the forecast, and how it impacts individual provinces. Prices are expected to start […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate CMHC Warns Canadians: “Support For Homeownership Cannot Be Unlimited” The CMHC, Canada’s national housing agency, had a warning for young homebuyers: Be realistic about your debt. As a cautionary tale, the agency’s CEO walked the federal government through a scenario […]
Canadian real estate prices climbed according to another index, but it had a limited impact on sentiment. The Teranet – National Bank of Canada House Price Index (TNBC HPI) made a substantial climb in April. Despite the big increase for prices, the Big Six bank warned a rapidly changing macro environment could change the direction […]
Canadians are suddenly short on cash for their jumbo sized mortgages. Canada Mortgage and Housing Corporation (CMHC), the country’s national housing agency, estimates over a tenth of insured mortgages are now on payment deferrals. The agency also added they expect the ratio of deferrals to nearly double over the next few months. Quebec Has The […]
