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We have assembled a collection of thought provoking articles, reports, surveys, industry information, and other interesting content for your enjoyment.



Royal LePage: Canadian home price forecast revised upward to 16% as roaring...
Royal LePage: Canadian home price forecast revised upward to 16% as roaring spring market eases into summer

by Laura Forester | July 20, 2021

Royal LePage is forecasting that the aggregate price of a home in Canada will increase 16% to $771,500 in the fourth quarter of 2021, compared to the same quarter last year. 

While the rate of price appreciation is decelerating, a boost in demand is expected in the fall from foreign students, newcomers and investors as pandemic-era restrictions are lifted and the effects of the global health crisis wane.

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Royal LePage Survey reveals 3.2 million boomers are considering buying a ho...
Royal LePage Survey reveals 3.2 million boomers are considering buying a home within 5 years

by Laura Forester | July 2, 2021

The Royal LePage comprehensive survey of 2,000 boomers from coast-to-coast unveiled key trends within this powerful demographic. With over 9.1 million boomers in Canada, their real estate and purchasing decisions are far reaching.

“The boomer generation appears to have no intention of slowing down,” said Phil Soper, President and CEO, Royal LePage. “Fully vaccinated, and turning a cold shoulder to retirement, the typical member of this huge demographic is enjoying an empty nest and believes real estate is a good investment. Millions of boomers are expected to wade into the market over the next five years.”

Royal LePage, RPS’ sister company, completed the online survey between June 9 and June 14, 2021. 

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Housing mania drives RBC’s affordability measure to its worst level in 31 y...
Housing mania drives RBC’s affordability measure to its worst level in 31 years

by Laura Forester | June 30, 2021

Canada’s housing market continued to heat up in the early months of 2021, as the buying frenzy reached never-before-seen levels. This attendant rise in ownership costs far exceeded buyers’ income gains in the first quarter of 2021.

The ratio of ownership costs to household income— which constitutes RBC’s affordability measure—jumped 0.9% overall in Canada to 52.0%.

Ownership costs are an excessively heavy burden in Vancouver, Toronto and Victoria, and increasingly so in Montreal and Ottawa.

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Canada Housing Market Outlook: Values, Volumes and Vertigo
Canada Housing Market Outlook: Values, Volumes and Vertigo

by Laura Forester | June 21, 2021

According to the June 2021 RPS - Moody's Analytic's Housing Outlook, the Canadian housing market is running hot but will slow down in 2021, though the exact timing is difficult to predict.

The combination of restricted mortgage lending and the expectation of higher mortgage rates suggests that house prices are likely to experience a slowdown in the next year and a half.

 

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[Royal LePage] National home prices rise sharply in Q2 2020 as housing supp...
[Royal LePage] National home prices rise sharply in Q2 2020 as housing supply struggles to keep up with surge in demand

by Joel Bates | July 9, 2020

According to the Royal LePage House Price Survey and Forecast, powered by its sister company RPS Real Property Solutions’ Data and Analytics, the aggregate price of a home in Canada increased 6.8% year-over-year to $673,072, in Q2 2020. Once provinces allowed regular real estate activity to resume, demand surged in many markets and inventory levels, already constrained pre-pandemic, have failed to keep pace.

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Canada Housing Market Outlook:  Tough Times Ahead
Canada Housing Market Outlook: Tough Times Ahead

by Joel Bates | April 30, 2020

In the latest RPS - Moody's Analytics Housing Market Outlook, Canadian house prices may suffer a peak-to-trough decline of about 10% as a result of the current coronavirus-related economic shutdown.

The report notes, “The COVID-19 pandemic along with the collapse in oil prices will create a perfect storm this year for both home sales and residential construction”.

The Moody’s Analytics forecast model for the RPS house price indices compares current house prices to long-term trend prices.

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[Royal LePage] National Home Prices to Show Remarkable Resilience in 2020
[Royal LePage] National Home Prices to Show Remarkable Resilience in 2020

by Joel Bates | April 15, 2020

According to the Royal LePage House Price Survey and Forecast, powered by its sister company RPS Real Property Solutions’ Data and Analytics, the aggregate price of a home in Canada is expected to remain remarkably stable through the COVID-19 pandemic.

At the start of 2020, Canada’s housing market was experiencing a surge in home sales with growing upward pressure on major market home prices. The aggregate price of a home in Canada climbing 4.4% year-over-year in Q1 2020 to $655,276.

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Canada Housing Market Outlook: The Fundamentals Start to Pull
Canada Housing Market Outlook: The Fundamentals Start to Pull

by Joel Bates | October 16, 2019

As reported in today’s RPS - Moody's Analytics Housing Market Outlook: Canada’s housing market seems on course for a soft landing given the lack of deterioration in mortgage debt arrears so far. Nevertheless, there is a perceptible downturn in house price appreciation led by Toronto and Vancouver, though this downturn has combined with falling mortgage rates to help resales recover in the past few months. That house prices have not fallen further is due to very tight resale markets in the Ontario metro areas for single-family homes and in the Vancouver area for condo apartments.

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[RBC] Market downturn's silver lining: an affordability boost
[RBC] Market downturn's silver lining: an affordability boost

by Joel Bates | June 28, 2019

According to RBC’s latest Housing Trends and Affordability Report, powered in part by Real Property Solutions’ (RPS) Home Price Index, the national home ownership costs have eased for the second-straight quarter keeping the home-ownership dream alive in most markets. Looking at the proportion of families who can afford to own a home, a near majority of families would be able to cover the cost of owning an average home in 9 of the 14 markets that are tracked. Severe affordability issues remain for all but the wealthiest in Vancouver, Toronto and Victoria.

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Canada Housing Market Outlook:  A Needed Pause in Demand
Canada Housing Market Outlook: A Needed Pause in Demand

by Joel Bates | May 17, 2019

As reported in today’s RPS - Moody's Analytics Housing Market Outlook, detached single-family home prices are expected to grow by 1.5% across Canada in the coming four quarters. The current cooling of the housing market is not really bad news but should be seen more as a necessary consequence of housing market policy interventions.

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