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We have assembled a collection of thought provoking articles, reports, surveys, industry information, and other interesting content for your enjoyment.
by Laura Forester | January 19, 2023
According to Royal LePage, the aggerate price of a home in Canada is $757,100, which is down 2.8% in Q4 2022 versus the prior year. This is the first year-over-year decline recorded in more than a decade. On a quarterly basis, the price decline was 2.3% and is the third consecutive quarterly decline and the smallest decrease so far. Prices remain above pre-pandemic levels: Canada’s Q4 2022 national aggregate home price has appreciated 13.8% versus Q4 2020, and 17.2% versus Q4 2019.
Housing values are based on the Royal LePage National House Price Composite, produced through the use of its data together with the data and analytics of its sister company, RPS Real Property Solutions.
by Laura Forester | December 15, 2022
According to Royal LePage, the aggerate price of a home in Canada is set to decrease 1.0% year-over-year to $765,171 in the fourth quarter of 2023, with the median price of a single-family detached property and condominium projected to decrease 2.0% and increase 1.0% to $781,256 and $568,933, respectively.
Housing values are based on the Royal LePage National House Price Composite, produced through the use of its data in addition to data and analytics from its sister company, RPS Real Property Solutions.
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by Laura Forester | October 25, 2022
According to the Moody’s Analytics and RPS Real Property Solutions housing outlook report released today, the Canadian housing market is poised for a rougher landing in the next few years, though it will begin to recover in late 2024.
The combination of increased borrowing costs, elevated inflation, and a softening labour market spells the end for the housing boom. We project house prices will suffer a peak-to-trough decline over 10% by early 2024.
by Laura Forester | April 22, 2022
Residential real estate markets have been defying both gravity and expectations across metropolitan areas. The rapid elevation of prices has put the cost of a home out of reach for many potential buyers. With the Bank of Canada now raising its target for the overnight policy rate, the country’s housing market has reached a turning point.
by Laura Forester | October 28, 2021
According to the latest Canada Housing Market report from RPS and Moody’s Analytics, the market is showing signs of slower home value growth.
"With the Bank of Canada now tapering its asset purchases, we expect interest rates to rise and housing price appreciation to slow down considerably through 2022 and into 2023." cites report author, Abhilasha Singh, a Senior Economist at Moody’s Analytics.
by Laura Forester | July 20, 2021
Royal LePage is forecasting that the aggregate price of a home in Canada will increase 16% to $771,500 in the fourth quarter of 2021, compared to the same quarter last year.
While the rate of price appreciation is decelerating, a boost in demand is expected in the fall from foreign students, newcomers and investors as pandemic-era restrictions are lifted and the effects of the global health crisis wane.
by Laura Forester | July 2, 2021
The Royal LePage comprehensive survey of 2,000 boomers from coast-to-coast unveiled key trends within this powerful demographic. With over 9.1 million boomers in Canada, their real estate and purchasing decisions are far reaching.
“The boomer generation appears to have no intention of slowing down,” said Phil Soper, President and CEO, Royal LePage. “Fully vaccinated, and turning a cold shoulder to retirement, the typical member of this huge demographic is enjoying an empty nest and believes real estate is a good investment. Millions of boomers are expected to wade into the market over the next five years.”
Royal LePage, RPS’ sister company, completed the online survey between June 9 and June 14, 2021.
by Laura Forester | June 30, 2021
Canada’s housing market continued to heat up in the early months of 2021, as the buying frenzy reached never-before-seen levels. This attendant rise in ownership costs far exceeded buyers’ income gains in the first quarter of 2021.
The ratio of ownership costs to household income— which constitutes RBC’s affordability measure—jumped 0.9% overall in Canada to 52.0%.
Ownership costs are an excessively heavy burden in Vancouver, Toronto and Victoria, and increasingly so in Montreal and Ottawa.
by Laura Forester | June 21, 2021
According to the June 2021 RPS - Moody's Analytic's Housing Outlook, the Canadian housing market is running hot but will slow down in 2021, though the exact timing is difficult to predict.
The combination of restricted mortgage lending and the expectation of higher mortgage rates suggests that house prices are likely to experience a slowdown in the next year and a half.
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by Joel Bates | July 9, 2020
According to the Royal LePage House Price Survey and Forecast, powered by its sister company RPS Real Property Solutions’ Data and Analytics, the aggregate price of a home in Canada increased 6.8% year-over-year to $673,072, in Q2 2020. Once provinces allowed regular real estate activity to resume, demand surged in many markets and inventory levels, already constrained pre-pandemic, have failed to keep pace.