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We have assembled a collection of thought provoking articles, reports, surveys, industry information, and other interesting content for your enjoyment.

Canada Housing Market Outlook: The Fundamentals Start to Pull

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.

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[RBC] Market downturn's silver lining: an affordability boost

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.

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Canada Housing Market Outlook: A Needed Pause in Demand

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.

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[Royal LePage] Sluggish Start to 2019 Provides Silver Lining for First-time Home Buyers in the Country's Largest Cities

by Joel Bates | April 8, 2019

According to the Royal LePage House Price Survey, powered by its sister company RPS Real Property Solutions’ Data and Analytics, Canada’s residential real estate market showed slowing price growth in the first quarter of 2019 with the price of a home in Canada increasing just 2.7 percent year-over-year, well below the long-term norm of approximately 5.0 percent.

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[RBC] Softer housing market in Canada provides some affordability relief

by Joel Bates | March 29, 2019

According to RBC’s latest Housing Trends and Affordability Report,  home ownership costs have started to dip almost everywhere in Canada. An easing in property values, offset slightly by higher interest rates, brought most of the affordability relief with the first home price decline in some time.

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Canada Housing Market Outlook: Slower, Steadier

by Joel Bates | February 12, 2019

According to the latest RPS - Moody's Analytics House Price Forecast Quarterly Report, the outlook calls for slower, steadier growth in the Canadian housing market. Based on the most recent data, the home price forecast for single-family homes is 0.9% growth across Canada in 2019.

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[Royal LePage] Stable Growth Projected for House Prices in 2019

by Neils Mack | December 14, 2018

House prices are projected to continue to correct and stabilize throughout 2019, according to a recently released report from Royal LePage. Lending rate increases, and new mortgage rules will continue to effect house prices. However, within Canada certain markets will respond differently due to local economic factors.

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US Regulators Propose Ending Appraisal Requirement on Some Homes Under $400,000

by Yvonne von Jena | November 30, 2018

The top US financial regulators have released a proposal that would increase the appraisal requirement from $250,000 to $400,000, meaning that certain home sales of $400,000 and below would no longer require an appraisal. The change would have a sizable impact on the real estate market, affecting an estimated 40% of home sales.

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[Bank of Canada] Balancing Monetary Policy and Financial Stability

by Yvonne von Jena | November 23, 2018

Bank of Canada deputy governor Carolyn Wilkins spoke recently about how monetary and macro-prudential policies interact with each other and how they affect financial stability. She provided some clear, interesting and insightful examples that highlight the impact.

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HELOC Policy Changes and Expected Impact

by Yvonne von Jena | November 14, 2018

A little-known HELOC policy is increasingly being adopted by lenders and has received attention in the media. Under this policy, applicants must prove they can afford the theoretical monthly HELOC payment based on the limit of that HELOC, rather than the amount that has actually been used. Notes Rob McLister in the Globe and Mail, “every credit-policy tightening adds up and weighs on home prices.”

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