Canadian Housing

The initial reaction to the Bank of Canada’s June rate hike—and the prospect for a follow-up in July—has been mixed across local housing markets.

RBC’s aggregate affordability measure for Canada fell for the first time in almost three years, edging 1.6 percentage points lower to 59.5%

Canada’s housing market is picking up steam. Both home resales and prices continued to rise at rapid clips in May.

Sellers are beginning to warm up to recovering housing markets. Early reports show a rise in new listings in May.

Spring 2023 increasingly looks like the turnaround point for Canada’s housing market after a year-long slump. April home resales jumped.

There were hints for some time the cyclical bottom would be reached this spring but April pretty much sealed the deal.

The year-long winter in Canada’s housing market appears to be ending. There were clear—albeit still tentative—signs of spring in March as more buyers stepped back into the fray. Home resales rose 1.4% from February and perhaps more importantly (benchmark) prices went up m/m for the first time in over a year across Canada. Sellers, on […]

Owning a home got even more expensive: Rising interest rates further inflated home ownership costs in the fourth quarter of 2022, despite a generalized dip in property values. RBC’s aggregate affordability measure for Canada rose for a nineth-straight quarter to 62.8%, its worst-ever level. The situation deteriorated in all markets we track. Buyers in BC […]

Canada’s shortage of rental housing could quadruple by 2026

It increasingly looks like Canada’s housing market is finally finding its footing

The Canadian housing market correction has yet to run its course but it’s gradually letting up.

Weakening housing trends remain the central theme early in 2023 across Canada.