Canadian real estate is undeniably in a downturn, but it might be worse than it appears. BMO Capital Markets warned clients that the market is eroding faster than expected.

To simplify the task of buying a home in Canada, we dug into real estate data and trends to find the top cities and regions for home buyers this year, based on current home prices and recent price growth.

Home prices have only fallen to where they were 18 months ago, but there are knock-on effects to the economy.

In Hamilton, Ontario, after a ridiculous mind-bending spike, prices plunged 5.8% in August from July, and are down 10.5% in three months. In Toronto, prices plunged 4.0% in August from July, and are down 8.3% in three months.

To buy or to rent: The housing market continues to be reshaped by several factors as Canadians search for an affordable place to call home

While buying a house in Toronto is notoriously expensive, the real estate market might soften up for the rest of the year (and actually give prospective homebuyers a chance to land their dream homes, too).

Rising borrowing rates could shave 10 per cent off Canadian home prices over the next year and lead to an even bigger drop in real estate investment, according to Capital Economics.

Canada’s central bank found housing affordability eroded further in the first quarter. The Bank of Canada (BoC) Housing Affordability Index (HAI) showed a sharp jump in Q1 2022.

The GTA real estate market showed signs of life in August with the average benchmark price rising for the first time in months but a new report from RBC is warning that the correction “isn’t over yet.”

Inventory levels in Canada’s major real estate markets have been declining over the past decade, and active listings in July fell below the 10-year average across the country.

Canada’s central bank provided no certainty on when it plans to end its rate-hiking cycle in last week’s policy rate announcement, a development that will give little comfort to Canadian homeowners and buyers alike.

After fuelling Canada’s economy through the COVID-19 pandemic, the real estate market is showing signs of weakness as home prices fall and bidding wars dissipate.

The real estate market is "softening" for Ontario.

Canada's housing market continued its slowdown last month, with the average selling price of a home touching $665,850 — a decline of almost 20 per cent since February.

Many Canadians are finding it harder to obtain housing that fits their budget as rents soar across the country.

3 months after Premier Doug Ford set the target, Ontario was 500,000 homes behind.

Affordability is a hot topic in Canadian housing market. Rising interest rates, intended to combat inflation, are significantly impacting homebuyers and in turn, sellers. Thus, home prices have begun to moderate from their record highs, but any savings is being offset by the higher cost of borrowing.

Canada’s housing market is being “weighed down” by high interest rates. With further hikes on the way, the market is in for a chilly fall.

A paradoxical housing market has emerged recently in Canada. On the one hand are the falling housing prices and sales; on the other are rapidly escalating rents that have increased pressure on renter households.

Interest rates are rising and the house-buying market is cooling off, putting more strain on rentals

As the Bank of Canada raises interest rates and sends signals that more hikes are on the way, it appears the red hot real estate market in Canada’s largest city is finally cooling down.

After more than two years of bidding wars, bully offers and rising home prices, buyers, sellers and even some real estate agents are trying to divine the best way forward in a market that has cooled dramatically.

To simplify the task of buying a home in Canada, we dug into real estate data and trends to find the top cities and regions for home buyers this year, based on current home prices and recent price growth.

A major change to how real estate purchases will work in British Columbia was quietly passed by the legislature this week, enabling new “cooling off” periods for home buyers.

Canada’s  most expensive housing market is now in the middle of a historic downturn, but the nation’s property sector has yet to reach its bottom as the market continues to acclimate to soaring interest rates. 

Housing markets are unique for their location, type, quality and size, so a decline in the average housing price is not the same as a decline in the price of an average house, which sometimes makes it difficult to decide whether it’s the right time to buy or sell.

Speculation is over after the Bank of Canada raised its key interest rate to 0.5% on March 2, 2022. The central bank brought down the benchmark rate to 0.25% from 1.75% at the onset of the pandemic to help the economy. However, the BoC needs to end the low interest rate environment in 2022 to rein in rising inflation.

Approximately 40 per cent of the parents of younger homeowners in Ontario say that they helped their children financially with their purchase, with the average gift exceeding $70,000.

Canada’s largest bank predicts home prices could drop by more than 12% early next year and unit sales could drop 42% between early 2021 by end of next year, making it the worst slump since the early 1990s.

Canada’s vacant home problem is improving but not very quickly.  Statistics Canada  (Stat Can) Census 2021 data reveals vacant homes fell from 2016. Resort towns have the highest share of vacant homes. This occurred despite the boom in year round residents in these cities. Let’s take a dive into the data

Most of Canada’s biggest mortgage lenders and its largest real estate groups are forecasting a robust housing market this year, with some expecting double-digit sale increases and sharp price hikes, despite rising lending rates and a shortage of homes for sale.

I n the second quarter of 2022, Canada's housing market saw the "worst deterioration" of affordability in 41 years,   according to a new report.

After fuelling Canada’s economy through the COVID-19 pandemic, the real estate market is showing signs of weakness as home prices fall and bidding wars dissipate.

There’s no relief in sight for rising rent prices across major Canadian markets as the country’s population continues to outpace available rental inventory.

There are two things that have seemingly been constant fixtures in Canadian real estate for at least the last decade: the rising cost of homes, and the supposed Canadian housing bubble.

Rising borrowing rates could shave 10 per cent off Canadian home prices over the next year and lead to an even bigger drop in real estate investment, according to Capital Economics.

 

Although the StatCan definitions for “private dwelling occupied by usual residents” and “usual place of residence” have generated some discussions about what constitutes vacant dwellings, the number of homes that are occupied by “not usual” residents is a vital housing parameter.

There’s some relief in store for homebuyers in Ontario and Quebec  that is, if they can secure themselves a mortgage.

Rising interest rates have led to the end of Canada’s pandemic-era housing market boom, and both prices and sales will continue to tumble into 2023.

As rent prices spiked over the past two months, affordable pockets of rental housing became harder and harder to find.

Both infrastructure and real estate have potential in a high inflationary environment

Undertaking market research and providing in-depth insight into the minds of mortgage consumers has l ong been an integral component of Mortgage Professionals Canada’s value-proposition to members.

The current policy environment is likely to fulfill the conditions that could herald a crash in Canadian home price growth, according to a new analysis by BMO.

Ottawa: Canada’s housing system is complex and there are several reasons for the steep, continued price escalation. The biggest issue affecting housing affordability in Canada is that supply simply isn’t keeping pace with demand.

Almost half of Canadians who rent say they will continue to do so indefinitely and aren't sure when they'll be able to get into the housing market, says a new survey.

Canada’s central bank found housing affordability eroded further in the first quarter. The Bank of Canada (BoC) Housing Affordability Index (HAI) showed a sharp jump in Q1 2022.

The average home price in Canada is expected to fall 23 per cent by the end of next year, predicts Desjardins Economics, in a significant downgrade to its earlier forecast.

The numbers are in and, as one economist puts it, April was the cruellest month for the housing market.

Canada’s addiction to real estate-driven growth won’t be easy to break, being such a large share of the economy.

The moderation of the Greater Toronto Area's housing market intensified last month as the region's real estate board found July sales fell 47 per cent from the same time last year and 24 per cent from this past June.

Canadian real estate owners are stuck paying a buttload in penalties after trying to avoid taxes owed. New data from the Canada Revenue Agency (CRA) shows their crackdown on real estate owners/sellers has led to billions in recouped revenue

The idea of big investors buying single-family homes to rent them out is "just in its infancy" in Canada, but is worth watching, according to the president of one of this country's largest real estate firms. Some advocacy groups fear families can't compete against money managers with billions in assets.

Canada’s largest bank might be its largest real estate bear after last month’s sales. This week RBC explained to investors that a Canadian real estate correction is here. Following downward revisions to the bank’s forecast, key markets reported further erosion. They see the correction spreading wider, and may be the deepest in half a century.

Prices continue to rise as rental markets recover from pandemic-driven declines

Almost half of Canadians who rent say they will continue to do so indefinitely and aren't sure when they'll be able to get into the housing market, says a new survey.

Though buying a home in most locales anyone would want to live in within Canada is still painfully expensive

I listened to a 2020 episode of The Agenda with Steve Paikin and one of the experts on the panel discussing the housing crisis was Martine August, an academic from University of Waterloo. Her solution to the shortage of affordable housing was more government intervention to stop what she described as “gouging” and an increase in “social housing” which I understood to mean homes paid for by government and rented to lower income Canadians at rents well below market rates.

Canada’s housing market is correcting but it won’t solve the affordability crisis, which could end up getting “worse,” according to a new analysis from CIBC.

Canadian real estate is undeniably in a downturn, but it might be worse than it appears. BMO Capital Markets warned clients that the market is eroding faster than expected.

Canada’s commercial real estate sector has withstood the COVID-19 pandemic quite well considering how much capital has been poured into it amid several lockdowns. And according to a CBRE outlook report, the good times will keep rolling.

You could pay up to twice the interest rate on a fixed mortgage tooday versus a variable.

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The Government of Canada has proposed a new Underused Housing Tax (the UHT) applicable to residential real estate throughout the country

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A new real estate report says Canada’s record-low supply of real estate is being compounded by an emerging trend: Baby Boomers who won’t let go of their homes.

As home prices remain high and interest rates continue to climb, an increasing number of Ontario residents say they plan to move to another province.

Canada’s largest bank predicts home prices could drop by more than 12% early next year and unit sales could drop 42% between early 2021 by end of next year, making it the worst slump since the early 1990s.

Interest rates are rising and the house-buying market is cooling off, putting more strain on rentals