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Posted on
July 30, 2018
by
Hafez Panju
To no one's surprise, Canada's mortgage industry really, really doesn't like federal regulators' new mortgage stress tests. Its principal industry association, Mortgage Professionals Canada, released a report this week on the impact of the tests that is almost apocalyptic in tone.
It blames the stress tests for this year's housing market slowdown, estimating that the reduced real estate activity will mean Canada will create 200,000 fewer jobs over the next three years than it otherwise would have.
About 18 per cent of prospective homebuyers in Canada would fail the stress test on...
Posted on
July 26, 2018
by
Hafez Panju
For the eighth consecutive quarter Canada’s overall housing market remains highly vulnerable, primarily due to evidence of overvaluation and price acceleration in Toronto, Vancouver, Victoria, and Hamilton, according to Canada Mortgage and Housing Corporation (CMHC).
On a quarterly basis, CMHC issues its Housing Market Assessment (HMA) to provide Canadians with both expert and impartial insight and analysis, based on the best data available in Canada. This report acts as an “early warning system” for the country’s housing markets — an important tool supporting financial...
Posted on
July 16, 2018
by
Hafez Panju
Imagine living at SFU walking distance to everything you need. This 705', 1 Bedroom plus Den condo at Harmony by Polygon, is a beautiful, quiet Low-Rise Rain-screened condominium development featuring a central court yard with fountain, surrounded by lush forested walking, hiking & mountain bike trails. Den could be converted into a second bedroom. Gym, meeting facility, Bike Storage, & guest parking. Residents appreciate the many benefits of living at University including access to the University, shopping, cafes, and schools for the little ones. Mountain living close to everything. Includes...
Posted on
July 16, 2018
by
Hafez Panju
Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were up from May to June 2018.
Highlights:
- National home sales rose 4.1% from May to June.
- Actual (not seasonally adjusted) activity was down 10.7% from June 2017.
- The number of newly listed homes eased 1.8% from May to June.
- The MLS® Home Price Index (HPI) in June was up 0.9% year-over-year (y-o-y).
- The national average sale price edged down 1.3% y-o-y in June.
National home sales via Canadian MLS® Systems rose 4.1% in June 2018 compared to May. While this marks the first substantive month...
Posted on
July 16, 2018
by
Hafez Panju
Posted on
July 13, 2018
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that a total of 7,884 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in June, a 32.5 per cent decrease from the same month last year. The average MLS® residential price in BC was $716,326, down 1.3 per cent from June 2017. Total sales dollar volume was $5.6 billion, a 33 per cent decline from June 2017.
“The impact of the B20 stress test is still being felt across the province,” said Brendon Ogmundson, BCREA Deputy Chief Economist. “Lower demand as the result...
Posted on
July 10, 2018
by
Hafez Panju
The trend in housing starts was 222,041 units in June 2018, compared to 216,701 units in May 2018, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
"The national trend in housing starts increased in June, reflecting a jump in the SAAR of multi-unit dwellings in urban centres in June to a historical high," said Bob Dugan, CMHC's chief economist. "Notably, the national inventory of newly completed and unabsorbed multi-unit dwellings has remained below its...
Posted on
July 4, 2018
by
Hafez Panju
With home sale activity dipping below long-term historical averages, the supply of homes for sale in Metro Vancouver* reached a three-year high in June.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,425 in June 2018, a 37.7 per cent decline from the 3,893 sales recorded in June 2017, and a 14.4 per cent decrease compared to May 2018 when 2,833 homes sold.
Last month’s sales were 28.7 per cent below the 10-year June sales average.
“Buyers are less active today. This is allowing the supply of homes for sale to accumulate...
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.