Real Estate
September 26, 2024
Canadian Housing Outlook: When the Trickle Becomes a Flood
The Canadian 5-year bond yield has declined over 100 bps since early May, while the Bank of Canada has cut its policy rate 3 times (with two more likely on tap this year). In short, the interest rate environment has significantly improved. Housing market activity is stirring, yet Canadian sales gains have, thus far, trailed what could typically be expected given this rush of rate relief.
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.
