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CMI State of the Market: Canadian Home Sales Moderate Further in May
CMI State of the Market: Canadian Home Sales Moderate Further in May Canada’s housing market continued to rebalance in May, as sales declined for a third consecutive month and new property listings rose. The combination of central bank rate policy and affordability challenges was largely responsible for the decline in sales activity. Home Sales…
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CMI State of the Market: Home Sales Moderate in April as Mortgage Rates Rise
Canadian home sales declined in April, as rising mortgage interest rates and other affordability challenges kept more homebuyers on the sidelines. Industry data shows that home prices may have peaked in urban centres such as Toronto, signaling the first major shift in market sentiment since the beginning of the Covid-19 pandemic more than two years…
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CMI State of the Market: Housing Becomes Major Theme in 2022 Federal Budget
Canada’s housing market cooled at the end of the first quarter, as supply constraints weighed on sales activity and contributed to another uptick in home values. Meanwhile, the federal government announced several supply-boosting initiatives in its 2022 budget to help alleviate shortages across the country. Home Sales Decline in March: CREA National home sales…
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CMI State of the Market: Home Sales Rise in February as More Listings Hit the Market
Canadian home sales rose at a brisk pace in February, as more homeowners listed their properties for sale ahead of the busier spring season. The Bank of Canada’s decision to start raising interest rates could have a material impact on mortgage costs in the near term, which could prompt more buyers and sellers into the…
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CMI State of the Market: Home Prices Continue to Surge at the Start of 2022
CMI State of the Market: Home Prices Continue to Surge at the Start of 2022 Canadian home sales edged up slightly in January, as a dearth of available supply limited real estate transactions at the start of the year. Supply constraints also helped push prices to their highest level on record, further eroding affordability at…
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CMI’s State of the Market: Canada’s Housing Market Heats Up Again as Prices Accelerate
November was another active month for Canadian real estate, as home sales rose across the country and property values continued to accelerate. While the number of newly listed properties rose in November, a dearth of supply is likely to keep prices trekking higher in the short to intermediate term. Home Sales Edge Up in November:…
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CMI’s State of the Market: Home Sales Surge in October as 2021 Marks Another Record-Breaking Year
Canada’s residential housing market registered a large uptick in October, as sales and property values continued to rise amid a dearth of available supply. Although the number of newly listed properties increased from September, the supply of homes for sale remains at a historic low. Home Sales Rise in October: CREA National home…
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