Canada’s housing markets rebalancing fast
With demand softening, inventories are now on the rise in some markets (including Toronto and Montreal). This is quickly easing what were extremely tight demand-supply conditions just a few months ago. In fact, most major markets in Canada have returned to balanced territory in May based on sales and new listings reported by local real estate boards.
Toronto is one of the least valuable cities to buy real estate in Canada
MoneySense’s Where to buy Real Estate in Canada 2022 report has placed Toronto 43rd out of 45 cities in terms of value and buying conditions. With a 2021 benchmark price of $1,023,02—$295,146 above the national average—and a three-year growth rate of 34%, Toronto earned a value score of just 0.7 out of five.
Canadian housing market moves from moderate to high degree of vulnerability
Canada Mortgage and Housing Corp. says the country’s housing sector moved from a moderate to high degree of vulnerability during the second quarter, with Toronto, Ottawa and Montreal among the markets shouldering the most risks.
Here’s how the housing landscape could change under a newly re-elected Liberal government
The dust has settled on an election that did little to change the parliamentary makeup in Ottawa, as the federal Liberals again take their seats as a minority government.
One of the cornerstone campaign issues was the housing crisis. But it is not a new issue. Many have argued there was little improvement under the previous government, and are skeptical it will be any different under the new one.