We have assembled a collection of thought provoking articles, reports, surveys, industry information, and other interesting content for your enjoyment.
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.
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.
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.
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.
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.
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.
by Joel Bates | April 8, 2019
According to the Royal LePage House Price Survey, powered by its sister company RPS Real Property Solutions’ Data and Analytics, Canada’s residential real estate market showed slowing price growth in the first quarter of 2019 with the price of a home in Canada increasing just 2.7 percent year-over-year, well below the long-term norm of approximately 5.0 percent.
by Joel Bates | March 29, 2019
According to RBC’s latest Housing Trends and Affordability Report, home ownership costs have started to dip almost everywhere in Canada. An easing in property values, offset slightly by higher interest rates, brought most of the affordability relief with the first home price decline in some time.
by Joel Bates | February 12, 2019
According to the latest RPS - Moody's Analytics House Price Forecast Quarterly Report, the outlook calls for slower, steadier growth in the Canadian housing market. Based on the most recent data, the home price forecast for single-family homes is 0.9% growth across Canada in 2019.
by Neils Mack | December 14, 2018
House prices are projected to continue to correct and stabilize throughout 2019, according to a recently released report from Royal LePage. Lending rate increases, and new mortgage rules will continue to effect house prices. However, within Canada certain markets will respond differently due to local economic factors.