We have assembled a collection of thought provoking articles, reports, surveys, industry information, and other interesting content for your enjoyment.
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.
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.
by Joel Bates | April 30, 2020
In the latest RPS - Moody's Analytics Housing Market Outlook, Canadian house prices may suffer a peak-to-trough decline of about 10% as a result of the current coronavirus-related economic shutdown.
The report notes, “The COVID-19 pandemic along with the collapse in oil prices will create a perfect storm this year for both home sales and residential construction”.
The Moody’s Analytics forecast model for the RPS house price indices compares current house prices to long-term trend prices.
by Joel Bates | April 15, 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 is expected to remain remarkably stable through the COVID-19 pandemic.
At the start of 2020, Canada’s housing market was experiencing a surge in home sales with growing upward pressure on major market home prices. The aggregate price of a home in Canada climbing 4.4% year-over-year in Q1 2020 to $655,276.
by Joel Bates | October 16, 2019
As reported in today’s RPS - Moody's Analytics Housing Market Outlook: Canada’s housing market seems on course for a soft landing given the lack of deterioration in mortgage debt arrears so far. Nevertheless, there is a perceptible downturn in house price appreciation led by Toronto and Vancouver, though this downturn has combined with falling mortgage rates to help resales recover in the past few months. That house prices have not fallen further is due to very tight resale markets in the Ontario metro areas for single-family homes and in the Vancouver area for condo apartments.
by Joel Bates | June 28, 2019
According to RBC’s latest Housing Trends and Affordability Report, powered in part by Real Property Solutions’ (RPS) Home Price Index, the national home ownership costs have eased for the second-straight quarter keeping the home-ownership dream alive in most markets. Looking at the proportion of families who can afford to own a home, a near majority of families would be able to cover the cost of owning an average home in 9 of the 14 markets that are tracked. Severe affordability issues remain for all but the wealthiest in Vancouver, Toronto and Victoria.
by Joel Bates | May 17, 2019
As reported in today’s RPS - Moody's Analytics Housing Market Outlook, detached single-family home prices are expected to grow by 1.5% across Canada in the coming four quarters. The current cooling of the housing market is not really bad news but should be seen more as a necessary consequence of housing market policy interventions.