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Real Estate
June 17, 2024
Canadian Existing Home Sales (May 2024)
Canadian existing home sales declined 0.6% month-on-month (m/m) in May, leaving them 12% below their pre-pandemic level. Nation-wide, sales were driven higher by gains in Alberta (+2.5% m/m) and B.C. (+1.9% m/m). In contrast, sales fell in Ontario (-2.0% m/m) and Quebec (-2.4% m/m).
June 17, 2024
Canadian Housing Starts (May 2024)
Builders broke ground on a surprisingly healthy number of units last month. With May's solid performance, urban starts are averaging 233.7k units, about 5% above their 1st quarter level. This points to some positive contribution to overall economic growth in Q2 via the new construction component of residential investment.