Greater Vancouver real estate prices are dropping, but buyers aren’t interested. Real Estate Board of Greater Vancouver (REBGV) numbers show prices rolled back almost two years of gains as of March. Prices are now in free fall, as sales printed a multi-decade low and inventory popped higher. Vancouver Real Estate Prices Drop Over 7% The […]
Borrowing rates are sliding before the traditional busy season for Canadian real estate. Bank of Canada (BoC) numbers show the effective borrowing rate peaked in early March. Shortly after printing the highest number since the Great Recession, the rate dropped. The minor drop made headlines, but only really impacts people shopping in that window. The […]
Canadian real estate sales are still falling, and dragging mortgage credit with it. Bank of Canada (BoC) numbers show mortgage debt reached a new high in February. Despite hitting a new high, the annual pace of growth hit the lowest level in almost 36 years. Canadians Owe Over $1.55 Trillion In Mortgage Debt Canadian mortgage […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Households Are Just 0.01 Points From The Mother Of All Debt Records Canadian households are paying a near record amount to service their debt. The debt service ratio (DSR) reached 14.87% in Q4 2018, up 5.46% from last year. […]
Vancouver’s condo market continued to slide last month. Real Estate Board of Greater Vancouver (REBGV) numbers show February sales hit the lowest level since 2009. The drop in sales combined with rising to make the largest price drop since the Great Recession. Vancouver Condo Prices Make Biggest Decline Since 2009 The price of a condo […]
House rich, cash poor Boomers across Canada are sending reverse mortgage debt soaring. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgage debt made a slight decline in January. The monthly decline didn’t slow the annual pace of growth all that much. Outstanding reverse mortgage credit is growing at […]
Slowing of the Greater Vancouver real estate market is hitting pre-sale condos. Numbers from MLA Canada, a condo pre-sale marketing agency, show new projects are seeing slow absorption in February. The slowing of sales is sending relative demand to levels that could send prices lower. Greater Vancouver New Condo Sales Are Plummeting Greater Vancouver condo […]
Canadian real estate is cooling down even further from last year. Canadian Real Estate Association (CREA) numbers show the sales to new listings ratio (SNLR) declined further in February. The ratio, a relative measure of demand, showed more inventory and fewer sales are a broad trend. Markets taking the biggest hit are located in Greater […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate The Canadian Government Launches Predatory First-Time Buyer Mortgage Scheme The Government of Canada is taking steps to provide first-time buyers assistance, through “equity lending.” The move would see the government provide new homeowners with up to 10% assistance to buy […]
New home prices are dropping across Canada, according to the national statistics agency. The Statistics Canada (Stat Can) New Home Price Index (NHPI) shows a price decline for this past January. The decline is the first negative print for the index since the Great Recession. New Home Price Index (NHPI) The NHPI is a home […]
