Monthly Housing Market Update

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

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

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 […]

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

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

Property values have been under intense downward pressure across Canada.

The pace of decline may have slowed in recent months but Canada’s housing market is still firmly in correction mode.

Canada’s housing market may be entering the latter stages of its cyclical downturn. The pace of decline is now slowing—there was even a tiny monthly increase in home resales nationwide in October—marking a notable shift from the deep fall in activity that took place over the spring and summer. Property values are still clearly coming […]

September marked the seventh-straight monthly decline in home resales in Canada (down 3.9%).

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

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

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