Canadian real estate sales are off to a weak start in 2019. Canadian Real Estate Association (CREA) numbers show January was a slow one for sales. In fact, it’s the slowest January since 2015, when Canada was on the brink of recession. The decline also makes this the longest negative streak since the Great Recession. […]
Canadian real estate markets are still significantly cooler than we’ve gotten used to. The National Bank of Canada–Teranet House Price Index (Teranet HPI) resumed price growth deceleration in January. Prices also failed to rise on a monthly basis, for the fifth month in a row. The monthly movement (or lack of), occurred for the first-time […]
If you’re looking for detached real estate in Greater Vancouver, you can expect to find a lot more inventory. Real Estate Board of Greater Vancouver (REBGV) numbers show detached listings reached a multi-year high for January. The inventory increase accompanied a multi-year low for sales, dropping prices to a 33 month low. Greater Vancouver Detached […]
The Government of Canada is mulling over how to increase household debt. Seriously. The Ministry of Finance is considering extending the maximum amortization for insured mortgages. The move would lower payments relative to 25 year amortizations, in exchange for paying more interest. The move helps in the short-term, but can cost households a lot more. […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate The Last Time Canadian Household Debt Grew This Slow Was 1983 Canadian household debt hit a new record high, but the growth rate is decelerating. The balance of outstanding debt reached $2.16 trillion in December, up 3.1% from the year […]
Buyers are turning on Vancouver real estate, as the epic run comes to an end. Real Estate Board of Greater Vancouver (REBGV) numbers show prices made a substantial decline in January. Falling prices came as a result of the multi-year high for January inventory, and a multi-year low for sales. Greater Vancouver Home Prices Are […]
Falling Canadian real estate sales are still taking a bite out of mortgage growth. Bank of Canada (BoC) numbers show mortgage debt reached a record high in December. Despite the record, the annual pace of growth fell to a multi-year low. In fact, it’s only been lower for one month, over the past 30 years. […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Sales Drop Over $38 Billion In Business Last Year Canadian real estate sales made a huge drop in dollar volume. Sales through the MLS racked up to $224.04 billion in 2018, down 17.78% from the year before. […]
Canadian real estate buyers spent a lot less cash last year. Canadian Real Estate Association (CREA) numbers show dollar volumes made a massive decline in 2018. The total amount spent on real estate resales made a massive drop, largely do to declines in Toronto and Vancouver. Why Look At Dollar Volume? Dollar volumes aren’t just […]
Canadian real estate exuberance is quickly cooling, but still above critical levels. The US Federal Reserve’s Reserve Bank of Dallas has published their quarterly update on global real estate exuberance. Canada’s numbers show buyer exuberance is down to a multi-year low, but is still very much exuberant. The Exuberance Index The exuberance index is the […]
