Real Estate – Canadian Investor

Alternative lenders increase share of slowing Canadian mortgage market: CMHC

July 16, 2019 CanadianInvestor

OTTAWA — A new report from the Canada Mortgage and Housing Corporation suggests more people are turning to alternative lenders, while the overall number of new mortgages slowed amid government interventions aimed at cooling the housing market. CMHC estimates alternative lenders held $13 billion to $14 billion of outstanding Canadian mortgages in 2018 — up from $11 billion to $12 billion... Read More

Home sales edged up 0.3 per cent in June, Toronto and Montreal make gains

July 15, 2019 CanadianInvestor

OTTAWA — The Canadian Real Estate Association says home sales in June edged higher compared with a year ago, as gains in Greater Toronto and Montreal offset declines in B.C. The association says sales through its Multiple Listing Service last month were up 0.3 per cent compared with June 2018. On a month-over-month basis, home sales were up 0.2 per... Read More

China’s economy growth cools further amid US tariff war

July 14, 2019July 14, 2019 CanadianInvestor

BEIJING — China’s economic growth slowed to its lowest level in a decade in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington. The world’s second-largest economy grew 6.2% over a year ago, down from the previous quarter’s 6.4%, government data showed Monday. That was the weakest growth since the... Read More

Toronto stock market falls as Canadian dollar hits nine-month high

July 12, 2019July 16, 2019 CanadianInvestor

TORONTO — While U.S. markets set record highs, Canada’s main stock index ended the week lower as the loonie hit a nine-month high. The S&P/TSX composite index closed down 39.78 points to 16,488.12 after hitting an intraday high of 16,525.70. Seven of the 11 major sectors decreased, led by a 4.5 per cent drop by cannabis-heavy health-care sector. A fifth consecutive day of... Read More

Luxury real estate sales rise in Toronto, Montreal; fall in Vancouver

July 10, 2019 CanadianInvestor

Luxury real estate sales flourished in Montreal with property sales over $4 million jumping by triple digits in the first half of 2019, but continued to dwindle in Vancouver, according to a new report. “Canada’s top-tier real estate markets veered in separate directions,” read a report released Wednesday by Sotheby’s International Realty Canada, which tracked the number of condominiums, townhouses and... Read More

Montreal home buyers squeezed in tighter market as sales and prices rise

July 5, 2019 CanadianInvestor

MONTREAL — The Montreal real estate market continues to tighten as home sales rose amid a drop in listings last month. The Quebec Professional Association of Real Estate Brokers says residential sales hit 4,339 in June, a year-over-year increase of seven per cent. The uptick came during the 45th consecutive monthly drop in the number of active listings, prompting a spurt in... Read More

TREB says home sales up 10.4 per cent in June, average price up three per cent

July 4, 2019 CanadianInvestor

TORONTO — The Toronto Real Estate Board says home sales were up 10.4 per cent in June compared with last year as the market continued a moderate spring rebound. It says the Greater Toronto Area saw 8,860 sales through the Multiple Listing Service system in the month, up from 8,024 in the same month last year. The average selling price was... Read More

Metro Vancouver’s benchmark home price falls below $1M in June: real estate board

July 3, 2019 CanadianInvestor

VANCOUVER — Metro Vancouver’s once hot housing market is experiencing an “expectation gap” between buyers and sellers as the benchmark property price fell under $1 million for the first time since May 2017. “Sellers are often trying to get yesterday’s values for their homes, while buyers are taking a cautious, wait-and-see approach,” Ashley Smith, the real estate board’s president, said... Read More

Sidewalk releases grand vision for controversial Toronto development

June 24, 2019 CanadianInvestor

TORONTO — Sidewalk Labs has released its vision for a substantial new development on Toronto’s eastern waterfront that is facing criticism for its ambition and overreach. The plan sets out what Sidewalk Labs, a subsidiary of Google parent-company Alphabet Inc., hopes will be a blueprint for urban development that will incorporate the latest concepts in building design, mobility, sustainability and inclusivity. The more than... Read More

US home sales climbed 2.5% in May amid lower mortgage rates

June 21, 2019 CanadianInvestor

WASHINGTON — U.S. home sales jumped 2.5% in May, as lower mortgage rates appeared to help buyers overcome affordability challenges. The National Association of Realtors says that existing homes sold at a seasonally adjusted annual rate of 5.34 million last month, up from 5.21 million in April. The recent gains likely came from reduced borrowing costs that made it easier... Read More