It’s official: Canada’s housing-market correction is over
08/26/2019
An economist with Canada’s biggest bank says the country’s housing-market correction “is officially over.”
An economist with Canada’s biggest bank says the country’s housing-market correction “is officially over.”
The struggle has been real for Alberta’s biggest housing markets — but the province’s embattled urban centres are showing some signs of improvement, local real estate boards report this month.
The federal government announced Thursday that it is adding more strength to the National Housing Strategy.
The federal government is suggesting it’s going to tackle housing affordability issues, but it looks like many Canadians aren’t buying it.
With just a few weeks remaining in the final quarter of 2018, it’s time to consider how the Canadian housing market is faring as we speed towards 2019.
Canadian home sales fell 1.6 percent month-over-month in October, the second month of falling activity for the housing market.
Previously well performing markets saw sales declines, including a 2.9 percent drop in Montreal and a 16.8 percent decline in Hamilton, according to the latest data release from the Canadian Real Estate Association (CREA).
Concerns about the environment, coupled with the growing demand of investors for responsible investing, is helping to drive the move towards green building.
A new survey of more than 2,000 building professionals from 86 countries reveals that 47% expect that most (60%) of their new projects will be green by 2021.
While there have been plenty of predictions about where the Canadian housing market might be headed in the new year, it’s important to take stock of where activity levels stand today. Without the proper context, even the best forecasts from industry experts can be difficult to fully grasp.
With this in mind, Livabl has collected 10 stats about the market, covering everything from the slowly warming Toronto housing market to new homes sales numbers, luxury home prices, and more.
Preliminary housing starts data for October 2018 are pointing to a national market that is steadily slowing down due to pressure from various factors, according to the Canada Mortgage and Housing Corporation (CMHC).
“The national trend in housing starts declined for a fourth consecutive month in October, which leaves the trend at its lowest level since February 2017,” CMHC chief economist Bob Dugan stated in the starts report.
The Canadian housing market will see activity moderate over the next two years, according to the latest forecast from the Canada Mortgage and Housing Corporation (CMHC).
The federal housing organization is predicting a flattening of sales and prices in 2019, with the average national home sale price coming in somewhere between $501,400 and $521,600.
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