Canadian Housing

Unsurprisingly, soaring ownership costs turned Canada’s housing market on its head.

The Bank of Canada’s rate hiking campaign keeps home buyers on the defensive.

The cooling trends that emerged this spring are still firmly in place across Canada’s housing markets. Early reports from local real estate boards for the most part showed both resale activity and prices continuing to soften in August. Toronto and Hamilton however saw a modest monthly resales increase—which we think is nothing more than volatility […]

Formerly overheating markets in Ontario and parts of the BC Lower Mainland have been the epicentre of the downturn to date.

Soaring interest rates have been the catalyst for this widespread correction.

Bank of Canada ‘frontloads’ its rate hiking campaign

Earlier (super) tight demand-supply conditions are easing rapidly.

Interest rates are back on the rise after falling to historic lows during the pandemic.

Rapidly rising interest rates are having a definite chilling effect on housing market activity across Canada.

With demand softening, inventories are now on the rise in some markets (including Toronto and Montreal. – RBC Economics

The Bank of Canada’s interest rate liftoff was quick to rein in supercharged housing activity and weigh on home prices. Back-to-back overnight rate hikes in March and April—including an outsized 50 basis-point increase last month—set the stage for a sizable 12.6% drop in home resales across Canada between March and April. More importantly, benchmark prices […]

Home sales are softening across Canada’s four largest markets, most notably in Toronto Benchmark home price growth slowing, signaling a market shift; prices may have peaked in Toronto A lower sales-to-new-listings ratio signifies a slowdown of pandemic buying frenzy in Toronto, Montreal, and Calgary Higher rates will be more burdensome to those shopping for homes […]