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According to statistics released this week by The Canadian Real Estate Association (CREA), national home sales declined for a third consecutive month in July 2016. Modern Houses Highlights: • National home sales fell 1.3% from June to July. • Actual (not seasonally adjusted) activity came in 2.9% below July 2015. • The number of newly listed homes rose […]
The trend measure of housing starts in Canada was 201,936 units in July compared to 197,847 in June, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. CMHC uses the trend measure as a complement to the monthly […]
The Housing Market Assessment (HMA) analytical framework provides a comprehensive and integrated view that relies on a combination of signals from a number of indicators to assess housing market conditions in several metropolitan areas across Canada, and for Canada as a whole. In this HMA, CMHC is raising its overall assessment for Canada from a […]
The following is an excerpt of an article written by VERICO’s Economic Consultant Michael Campbell and published on the VERICO blog. Read the full article on the VERICO blog What impact will the 15% foreign property tax have on the market? Virtually nothing if the concern is affordability. There’s no evidence to suggest that foreign buyers […]
Home prices across Canada are set to jump this year as interest rates are kept near record lows by economic uncertainty from the U.K. referendum to leave the European Union, according to brokerage Royal LePage. The average house price will rise 12.4 percent from 2015 to C$563,000 ($434,000), the highest year-over-year forecast from a real estate […]
The Bank of Canada just announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Inflation in Canada is on track to return to 2 per cent in 2017 as the complex adjustment underway […]
The trend measure of housing starts in Canada was 197,918 units in June compared to 190,302 in May, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. June saw housing starts pick up increased in Canada, especially in […]
