Special Housing Reports

Unsurprisingly, soaring interest rates are keeping the temperature significantly down for Canada’s housing markets this fall.

Price trends vary across the Greater Toronto Area but the stillness in activity is widespread.

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 […]

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

Bank of Canada ‘frontloads’ its rate hiking campaign

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

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 […]

Will a rapid rise in interest rates finally cool down our housing market? We’ll soon find out.

Some measures (e.g. the foreign buyer ban and anti-flipping tax) are clearly designed to shake things up and effect a change in market direction.

Last month’s first rate hike from the Bank of Canada since 2018 likely had little cooling effect on the market.

Sellers will play a central role in shaping up this year’s spring season.

Solid demand and a dearth of supply kept conditions steamy in Canada’s major markets as 2022 rolled in.