Canada Housing Prices

Housing Crash Feared Among Experts

The Huffington Post Canada | Posted 02.26.2014 | Canada Business

Canada's real estate market may be resting on a house of cards, say some experts in a Reuters poll. The news agency surveyed 16 housing experts and...

What Housing Prices Do to the Canadian Psyche

Doug O. Jones | Posted 10.06.2013 | Canada Business
Doug O. Jones

A radical deceleration in house prices could have a comparable impact upon people's psyches, let alone their finances. After years of unbridled appreciation in the value of their primary asset (.ie. their home), many have developed an ardent confidence based upon the expectation of a continuance of this trend.

Jesse Ferreras

How Canada's Housing Crash Could Take The Economy Down With It

HuffingtonPost.com | Jesse Ferreras | Posted 04.20.2013 | Canada Business

Canada's housing market is falling in the country's major cities and it could very well drag the economy down with it, a prominent housing analyst sai...

Real Estate Bonanza Drawing To A Close: TD

CP | Julian Beltrame, The Canadian Press | Posted 05.11.2013 | Canada Business

OTTAWA - Canada's real estate bonanza of the past decade has come to end and the long-term trend as one of the most profitable places to invest is als...

Housing Price Growth Cools

CP | The Canadian Press | Posted 03.25.2013 | Canada Business

TORONTO, Cananda - The Teranet-National Bank index of Canadian housing prices continues to show effects from cooler demand for residential properties ...

Housing Market Feels A Chill

CP | The Canadian Press | Posted 01.21.2013 | Canada Business

TORONTO - There's mounting evidence October was a weak month for sales of Canadian housing.A new monthly analysis by Teranet shows Canadian housing pr...

House Prices Still Rising, But Slower: StatsCan

CP | The Canadian Press | Posted 08.14.2012 | Canada Business

OTTAWA - Statistics Canada says its new housing price index rose 0.2 per cent in April, following a 0.3 per cent increase in March.On a year-over-year...

Average Home Price Inching Higher

CBC | Posted 07.15.2012 | Canada Business

The average selling price of a Canadian resale home was a little less than one per cent higher in April compared to the same month a year...

Caution In The Condo Market

CBC | Posted 06.21.2012 | Canada Business

Canada's top banker suggests the housing market could be headed for trouble in parts of the country where home prices are high. ...

Home Prices Rising More Slowly: StatsCan

CP | The Canadian Press | Posted 04.10.2012 | Canada Business

OTTAWA - Statistics Canada says its new housing price index rose 0.1 per cent in December, after a 0.3 per cent increase in November.The agency says h...

House Prices Rise In Major Cities

CBC | Posted 04.07.2012 | Canada

Price increases in three major Canadian housing markets pushed the Canadian Real Estate Association's home price index higher in January ...

1 In 5 Vancouver Homes Now Sell For More Than $1 Million

The Huffington Post Canada | Posted 11.21.2011 | Canada Business

One in five houses sold in the Vancouver real estate market this year went for more than $1 million, according to data from the Canadian Real Estate A...

Rachel Mendleson

How Canada's Income Disparity Is Raising Home Prices For Rich, Poor Alike

HuffingtonPost.com | Rachel Mendleson | Posted 08.07.2012 | Canada Business

This is the first installment of The Huffington Post Canada's new series Mind The Gap, exploring the growing rich-poor divide in the Great White North...

Canadian Home Prices Still Rising, But More Slowly

CBC | Posted 01.15.2012 | Canada Business

The value and number of homes sold in Canada increased again in October, but at a much slower pace than in recent history. Th...

Home Prices Just Won't Stop Going Up

CBC | Posted 11.15.2011 | Canada Business

Canadians paid 7.7 per cent more for sales of existing homes in August than they did in the same month last year, a real estate group said Thursday. ...

Home Prices To Fall, TD Warns

CBC | Posted 09.12.2011 | Canada

The average price of a resale home in Canada will fall by more than 10 per cent over the next couple of years, an analysis by TD Economics predicted Wednesday. Calling it a "moderate correction," the report's authors also say sales will decline by more than 15 per cent over the same period. "A combination of more subdued job and household income growth, rising interest rates, the recent tightening in borrowing rules for insured mortgages and fewer first time home buyers are expected to be the chief culprits behind the slowdown," the report said. TD economists profiled 12 urban markets across the country. They highlighted Vancouver and Toronto -- currently the two most expensive housing markets in Canada -- as the cities most vulnerable to a larger-than-average decline, "reflecting in part their exposure to the condominium segment, which appears particularly ripe for a correction." No city will experience a housing boom in the near-term, the authors say. But price drops in Regina, Saint John, N.B., Halifax, Calgary and Edmonton will be less than the average -- what the report calls "a soft landing." On a national basis, the report's prediction of an average 10.2 per cent price decline translates into an average resale price of $329,000 in 2013, down $38,000 from its 2011 peak. But the red-hot Vancouver market, where the average resale home now goes for about $793,000, the authors predict a 14.8 per cent decline by 2013 to a still lofty $675,000 -- a drop of $118,000. "Vancouver has been the poster child for those individuals worried about a real estate bubble here in Canada," the report says, with the authors pointing out that household debt levels are higher in Vancouver than in any other city. Toronto's forecast price drop over the same period will be almost as dramatic -- an 11.7 per cent cent decline to $415,000 by 2013. That's $55,000 lower than the current peak. The authors note that sales are already off their peak. But they say the biggest drivers of housing demand are likely to remain "supportive" for the rest of 2011. The bulk of the price correction will come in 2012 and 2013, they say. TD economists say the Bank of Canada is likely to start hiking interest rates again at the start of 2012. With the central bank's policy rate directly tied to variable rate mortgages -- which 40 per cent of current mortgage holders now have -- the authors point out that a $400,000 mortgage will cost $440 a month more to service by mid-2013, assuming the Bank of Canada raises its key overnight rate from the current 1.00 per cent to 3.00 per cent by that point. The average price of a resale home in Canada will fall by more than 10 per cent over the next couple of years, an analysis by TD Economics predicted Wednesday.