CREA Updates Housing Market Forecast

A new report from the Canadian Real Estate Association predicts that home sales will be on the rise in 2017 and into 2018. The report says that in 2017 home sales are expected to be up by 2 per cent from last year, while 2018 will see an increase of 4 per cent over the previous year. What’s more, CREA forecasts prices will continue to go up through 2018, though at a more moderate pace than has been the case in recent years.

Housing Market Forecast Improves

Canada’s housing market is forecast to continue its strong performance through 2017, according to a revised forecast released today by Canada Mortgage and Housing Corporation (CMHC). The national outlook is more positive compared with previous forecasts, with CMHC now projecting that we will see moderate gains in housing starts, said Bob Dugan, Chief Economist at CMHC. Housing markets are expected to continue to benefit from very stimulative economic conditions and population growth over 2016-2017. The national average price of homes sold in urban centres is projected to increase by 5.4 per cent in 2016 and 2.8 per cent in 2017.

Low Inflation, Balanced Economy Bolsters Housing Demand

CREA Survey! The Canadian Real Estate Association (CREA) published its latest survey on housing, showing steady demand and low inflation. CREA's Housing Market Outlook Survey reports that home sales in June of 2016 were up 3.2% over May and up 1.8% year-over-year, supporting a slight rise in both home prices and rental rates in some regions of Canada. The survey is based on interviews with real estate agents across Canada - representing approximately 70% of all homes sold countrywide last year. The housing market remains healthy heading into the second half of 2016, said Gregory Klump, CREA's Chief Economist.

Sales To New Listings Ratio Remains Above 80% For The Sixth Month

The Canadian Real Estate Association (CREA) released its latest housing market forecast today, projecting modest growth in Canada’s housing market over 2021. The national sales-to-new listings ratio held above 80% for a sixth consecutive month in October—the longest streak since 2005. This is due to stronger sales in markets across most of southern Ontario and around much of Vancouver Island, offset by declines elsewhere. Sales were up from August to September across a large swath of southwestern Ontario from Windsor westward to London, Sarnia and Chatham-Kent as well as on Vancouver Island and lower mainland B.C., where sales rose considerably month over month but are still below year ago levels, said Gregory Klump, CREA’s Chief Economist.

Unseasonably Mild Weather Drives Spring Home Buying Activity

According to a new report from Canadian Real Estate Association (CREA), housing activity in March and April was up year-over-year, despite unseasonably mild weather. The national average home price rose 4.4 per cent year-over-year to $397,087 for the first four months of 2017, and although activity has slowed since early 2017, CREA says it remains positive overall. However, CREA predicts that housing activity will slow down in 2017 compared to 2016. This is due to an influx of new supply in major urban centres like Toronto and Vancouver caused by tighter mortgage rules for borrowers with more than a 20% down payment.

Year-over-Year Price Gains Expected To Remain Over 5% For Fifth Straight Quarter

A new report from Canada Mortgage and Housing Corporation (CMHC) says that after a brief pause, housing prices are expected to continue to increase in 2014, with gains between 5 and 10 per cent. The conditions required for an economic slowdown have not materialized thus far, said CMHC's Chief Economist Bob Dugan. Total housing starts should remain near 200,000 units in 2014. However, investment will shift away from areas of greatest oversupply into regions that still need houses. This adjustment is already happening in Ontario and Quebec; while high inventory levels prevail across most of Canada's major cities, strong demand should ensure that prices remain stable throughout most of next year. Based on national estimates, sales activity will strengthen during spring and summer months when markets reach their seasonal peaks.