Canadian Home Sales Strong But Lower In June

Canadian home sales decreased by 0.8 per cent from May to June, but actual (not seasonably adjusted) activity was 11 per cent above June 2014 in June 2015. New listings decreased by 0.2 per cent month over month.

“Low interest rates are unquestionable helping boost consumer confidence and home sales actively this summer,” said the president of the Canadian Real Estate Association, Pauline Aunger in a press release. “But low interest rates are benefiting sales in some areas more than others. All real estate is local, with trends affected by a combination of local and national factors. Realtors remain your best source of information about sales and listings where you live or might like to in the future.”

The average price of a home in Canada increased by 9.6 per cent, however if Greater Toronto and Greater Vancouver are excluded the increase was 3.1 per cent.

Chief economist for the Canadian Real Estate Association, Gregory Klump, said that, Low interest rates are helping sales activity set new records in and around the Greater Toronto area, which is boosting national sales activity. Those records would be even higher were it not for an ongoing shortage of listings for single family homes in the area. The combination of strong demand and a shortage of listings is continuing to fuel single family home price increases.”

Read the full release from the Canadian Real Estate Association here.

Canadian Home Sales Increase In April

According to the latest information from the Canadian Real Estate Association, resale housing activity across Canada increased by just under one per cent in April 2012.

“A number of Canadian housing market trends in April remained intact from the previous month,” said the president of the Canadian Real Estate Association, Wayne Moen, in a press release. “Trends in Vancouver and Toronto continue to diverge. These two housing markets have an obvious influence on national statistics and a high profile, but Canada is a big place. Trends in housing markets differ across Canada, and as all housing is local, buyers and sellers should speak to their local realtor to better understand current and prospective trends where they live.”

The Toronto real estate market saw the biggest increase, along with Calgary.

“It bears repeating that the national average price was skewed higher last spring by record level high-end home sales in Vancouver’s priciest neighbourhoods, and that a replay of this phenomenon was not expected this year,” said the chief economist for the Canadian Real Estate Association, Gregory Klump. “Sales data confirm that high-end activity in Vancouver is well off the peak levels reached at this time last year, which is exerting a gravitational pull on the national average price.”

So far this year, 157,804 homes have been sold in Canada, which is a 6.4 per cent increase over the same time last year.

“By contrast, activity in Toronto is stronger this spring than it was last spring,” added Klump. “Higher-priced sales activity there is on the rise and buoying average prices. As the most active housing market in Canada, Toronto is the biggest factor supporting national average price.”

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Canadian Home Sales Better Than Expected In 2011

According to a new report, the Canadian real estate market has fared much better than was expected in 2011. And, the thriving real estate market is expected to continue much into 2012.

Average home prices in the Greater Toronto Area rose about seven per cent to $465,000, and this price is expected to increase to $488,000, or five per cent, by this time next year.

According to the report, which was released by Re/Max, the Canadian housing market is just plain resilient.

“The Canadian housing market has demonstrated tremendous resilience in recent years, but 2011 stands out,” said the report. “Instead of responding to economic concerns both here and abroad with a retreat in sales and prices, residential real estate markets actually experienced an upswing in the volatile third and final quarters.”

In Toronto, home sales are expected to grow by approximately two per cent in 2012.

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

Canadian Real Estate Association’s October Resale Market Figures

According to the latest from the Canadian Real Estate Association, national home sale activity increased in October 2011 to the highest levels since January, and the year-to-date sales are in line with the average sales over the last 10 years.

CREA October 2011 Resale Home Stats. Click for full size.

“There was no shortage of headline news in October about global financial market volatility and economic uncertainty, but it doesn’t appear to have dampened homebuyers’ spirits,” said the president of the Canadian Real Estate Association, Gary Morse, in a press release. “Interest rates are at low levels and are likely to stay that way for some time to come. Homebuyers clearly see the opportunities that the current interest rate environment presents. That said, all real estate is local, so buyers and sellers should consult with their local realtor for an understanding of opportunities in their housing market.”

Resale home sales increased by 1.2 per cent over the month of September, and Toronto, along with other large cities like Montreal and Vancouver, led the sales increases.

“The prevailing economic outlook for Canada is one of slower but still positive economic growth, with heightened caution about investment and hiring decisions,” said the Canadian Real Estate Association’s chief economist, Gregory Klump, in the same press release. “Consumer confidence and the housing sector are being supported by low interest rates and high employment levels, but their prospects depend on how Canada’s economic outlook evolves in response to global economic risks and outcomes in the months ahead. Home sales activity over the past couple of months suggests buyers are confident that the Canadian economy will remain relatively unscathed by global economic risks, since every home purchase is a homebuyer’s vote of confidents in the future. That confidence is no doubt rooted in the success or coordinated fiscal and monetary policy responses that helped quickly pull Canada out of the last recession, and a states willingness and ability to carry out further policy actions if need be.”

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Canadian Real Estate Buyers Keeping Markets Hot

According to this Toronto Star article, Canadian home buyers have been keeping the Canadian real estate market hot these past few weeks.

The housing market is expected to be much more stable compared to other markets and other locations in the coming months, according to what the Canadian Real Estate Association’s chief economist, Gregory Klump, told the Star.

“We anticipate that, going forward, the housing market in Canada is going to be an oasis of stability compared to what is expected to be further volatility in financial markets,” he said.

The article follows a young financial consultant who is looking to buy his first home, along with the worries and fears he’s considered entertaining while jumping into the Canadian real estate market.

Despite naysayers and critics, the real estate market in Canada is stable and low interest rates are encouraging more and more home buyers, even first time home buyers.

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.