On the heels of new data showing that home prices tumbled in April across many of Canada’s largest cities, CMHC is forecasting it will take at least until 2022 for a return to pre-recession levels.
As much as 76% of Canada’s national wealth is locked into real estate, according to Statistics Canada’ late December report covering “value of non-financial assets” during the third quarter of 2018.
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.
“When sales-to-new listings ratios per neighbourhood fluctuate, it hits some neighbourhoods first,” explained John van Oosterhout, director of partnerships at Value Connect. “Higher-end neighbourhoods are usually affected first, as are neighbourhoods with a high number of investment properties.”
The majority of young Canadian families would prefer to live in a single detached home, but many have given up on the dream of ever being able to buy one.
In fact, 43 percent of families surveyed in a recent report from Sotheby’s International Realty Canada said that high detached home prices meant they had to settle for higher density housing.
A benchmark of sustainability performance by real estate companies and funds across North America has found an improved level of, especially in Canada. The 220 firms and funds were reviewed by GRESB – the global environmental, social and governance (ESG) benchmark for real assets – on behalf of 75 institutional
East Coast Mortgage Brokers is Atlantic Canada’s premier mortgage company. Founded in 2010, we work with Canada’s top lenders to ensure our clients get the best deal for their mortgage.
