Real Estate
December 19, 2024
Canadian Housing Outlook: Sunnier Skies Ahead
A major change relative to our September projection is the steep upside surprise that we’re tracking for Canadian home sales growth in the fourth quarter of 2024. Indeed, sales probably chalked up a gain of about 12% q/q in Q4, lifted by B.C. and Ontario.
November 20, 2024
Mortgage Holders Have Moved Away From The Cliff Edge
Our analysis suggests that mortgage renewals are going to be less stressful for households than previously feared, with aggregate payments on Canadian mortgages poised to decline for balances outstanding as of mid-2024. The key factors behind this expected easing are lower interest rates and increased payments, which have helped to front-load the payment shock.
October 16, 2024
Mortgage Rule Changes to Add Fuel to Canadian Housing Recovery
On December 15th, the federal government will roll out mortgage rule changes that make it easier to purchase a home for those taking out insured mortgages. These measures should offer a lift to Canadian home sales and prices next year. However, their impact will be blunted by an array of factors, including the affordability erosion induced by their implementation.
September 05, 2024
Oversupplied GTA Condo Market a Headwind for Home Prices
GTA home sales levels have been subdued since the Bank of Canada began cutting rates in June. That said, sales growth should turn stronger, as the steep decline in yields gets more fully reflected in mortgage rates. Yet, even as sales growth heats up in coming months, average resale price growth in the GTA will probably trail by a considerable margin.
