Senior Canadians tapping their home equity is slowing, but still showing massive growth. Office of the Superintendent of Financial Institutions (OSFI) filings show outstanding reverse mortgage credit hit a new high in November. The annual pace of growth of outstanding credit was slower than last year, but still remains above 30%. Reverse Mortgages Reverse mortgages […]
Canadians took a break from borrowing home equity, but are back in full force. Office of the Superintendent of Financial Institutions (OSFI) filings show home equity borrowing reached a new record high in November. The month was also the fifth consecutive we’ve seen acceleration of growth in this segment. Loans Secured By Residential Real Estate […]
Canadian real estate listings are facing more competition, and less sales. Canadian Real Estate Association (CREA) numbers show the sales to new listings ratio (SNLR) fell across the country in December. The indicator, used as a proxy for demand, showed deterioration in all but 3 major markets. Sales To New Listings Ratio The sales to […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate All But Two Canadian Real Estate Markets Have Fallen From Peak Prices Only two Canadian real estate markets are at all-time highs – Ottawa and Montreal. The Ottawa benchmark price reached $394,700 in December, a new record for the city. […]
Canadian real estate prices are starting to take a breather, after an epic run. Canadian Real Estate Association (CREA) numbers show prices across the country were down a few points in December. The vast majority of markets are now off all-time highs, with only two printing records in December. Canadian Real Estate Prices Are Down […]
Greater Vancouver’s condo market continued to cool quickly. Real Estate Board of Greater Vancouver (REBGV) numbers show prices are near flat in December. The rapid decline in price growth was accompanied by doubling inventory, and a multi-year low for December sales. Greater Vancouver Condo Prices Are Up Less Than A Point Condo prices in Greater […]
Canadian real estate sales continue to cool. Canadian Real Estate Association (CREA) numbers show sales dropped to a multi-year low for December. Weakness was on display across the country, with only one major market seeing minor growth. Canadian Real Estate Sales Make Largest December Drop Since 2012 Canadian real estate sales printed on of worst […]
Canadian real estate prices saw weakness in the second half. The Teranet–National Bank of Canada House Price Index (Teranet HPI) shows more than half of major urban markets saw declines in December. Two of the largest, Toronto and Vancouver, were just off of all-time highs, but yet to print a correction. Meanwhile, Montreal has hit […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Mortgage Growth Keeps Dropping, Prints New 17 Year Low Canadian mortgage growth dropped to a multi-year low. The balance of outstanding mortgage credit reached $1.53 trillion in November, up 3.2% from last year. While the dollar amount is at […]
Canadians love real estate so much, they’ve sent price growth higher than almost all of its peers. US Federal Reserve numbers show the market had the highest price growth of any G7 country, as of 2018 Q3. Just last year, prices in Canada were the fastest growing annually in the group. This year, they’re the […]
