Is housing market moving from ‘big thrill to big chill’?
Filed Under Main Content · Tagged: Adjusted Basis, April, Big Chill, Bmo Nesbitt Burns, Deputy Chief Economist, Douglas Porter, Economists, Globe And Mail, House Prices, Housing Market, Mail Sales, Mortgage Rates Rise, Moving, Mr Porter, Real Estate Market, Rebound, Recession, Signals, Three Months
The Globe and Mail- Sales of existing homes fell again in April, down by 2.6 per cent on a seasonally adjusted basis, which economists said signals that the real estate market will continue to cool as mortgage rates rise and higher house prices take a toll. New listings are also rising as sellers are increasingly enticed by what has been a remarkable rebound from the depths of the recession. Sales have now dipped month-over-month for three months out of the past four.
Average prices rose 12.2 per cent in April from a year earlier, which, while robust, is the “mildest gain” since last summer, noted BMO Nesbitt Burns deputy chief economist Douglas Porter. Raising the question of whether housing is moving “from big thrill to big chill,” Mr. Porter said…
Is housing market moving from ‘big thrill to big chill’? – The Globe and Mail
Victoria area real estate still strong in April
Filed Under Main Content · Tagged: April, Area Real Estate, Chris Markham, Housing Market, Interest Rates, Mortgages, President Chris, Promises, Real Estate Board, S Market, Statistics, Victoria Area, Victoria Market, Victoria Real Estate, Victoria Real Estate Board
Times Colonist- The approach of tougher qualifying rules for mortgages, coupled with increasing interest rates and promises of more hikes to come, buoyed the Victoria housing market again in April, according to the Victoria Real Estate Board.
Statistics released yesterday by the board showed a strong number of sales in April, with buyers getting into the market and keeping sale prices stable.
"I’d say it’s good, and I think what’s happening now is we’re balancing out. It’s becoming a balanced market — we’re still getting multiples [offers], but not as fast and furious as it was a few months ago," said VREB past-president Chris Markham. "We haven’t switched to a buyer’s market, but it has come off being a seller’s market…"
Victoria area real estate still strong in April
Canadian home builders scramble to meet demand
Filed Under Main Content · Tagged: April, Canada Mortgage And Housing, Canada Mortgage And Housing Corp, Canadian Home Builders, Post Canada
Financial Post- Canada Mortgage and Housing Corp. said Monday there were 157,300 units constructed last month on a seasonally adjusted annualized basis, a 5.4% increase from a month earlier. Annualized starts at dropped as low as 118,500 in April…
Canadian home builders scramble to meet demand
GDP data expected to show decline slowing
Filed Under Main Content · Tagged: April, Canada, Decline, Economic Contraction, Gdp, Gdp Data, Pace, Times Colonist Victoria
Times Colonist, Victoria, BC – “Nevertheless,” he said, “April is going to show that the pace of economic contraction is slowing in Canada. So that’s good news and it is a base to start recovering, which in our view is going to happen later in the year.”
