Home sales rise for first time since March
Filed Under Main Content · Tagged: Canadian Real Estate, Canadian Real Estate Association, Existing Home Sales, Four Months, Ottawa, Real Estate Association, Statistics, Times Colonist
Times Colonist- Existing home sales climbed in August for the first time in four months, the Canadian Real Estate Association said.
However statistics from the Ottawa-based group, which represents about 100 boards across the country, show prices continue to fall.
The average price of a home sold last month was $324,928, up only slightly from $324,843 a year ago. However, compared with last month, when the average price of a home sold was $330,351, prices are down 1.6%…
Home sales rise for first time since March
Home sales continue to drop
Filed Under Main Content · Tagged: Adjusted Basis, Calgary, Canadian Real Estate, Canadian Real Estate Association, Existing Home Sales, First Quarter, Mortgage, Ottawa, Rapid Decline, Real Estate Association, Record Sales, Toronto
Financial Post- Existing home sales continued their rapid decline last month with 70% of markets showing a drop in sales in June from May, according to the Canadian Real Estate Association.
The Ottawa-based group, which has 100 boards across the country, said sales were off 8.2% from a month ago on a seasonally adjusted basis. Toronto and Calgary led the decline.
CREA said tighter mortgage rules and rising rates are slowing the market which declined 13.3% from first quarter which had close to record sales.
"As expected, these two national factors contributed to a widespread decline in activity, with transactions down in all but a dozen or so smaller markets," said CREA…
Vancouver home sales drop sharply
Filed Under Main Content · Tagged: Canadian Real Estate, Canadian Real Estate Association, Globe And Mail, Housing Market, Mortgage Rates, National Numbers, Observers, Real Estate Association, Real Estate Boards, Real Estate Market, Recession, Runup, Sharp, Vancouver, West Coast City
The Globe and Mail- Vancouver’s housing market slowed considerably in June, with 30 per cent fewer sales than a year ago.
Still, the 2,972 sales made it the second-busiest June on record for the West Coast city. The sharp drop is further evidence that the real estate market is beginning to cool after its sharp post-recession runup after a similar drop in May.
Observers have been projecting a slower market, though not one that will come crashing down, in the face of higher mortgage rates and tighter mortgage rules.
National numbers are released by the Canadian Real Estate Association in the middle of the month, but individual real estate boards around the country often release their sales data earlier…
Vancouver home sales drop sharply – The Globe and Mail
May home sales fall 9.5% on new mortgage rules
Filed Under Main Content · Tagged: Canadian Real Estate, Canadian Real Estate Association, Decline, Housing Starts, Local Markets, Mortgage Rates, New Mortgage, Ottawa, Pahud, Real Estate Association, Spring Market, Toronto, Vancouver
Financial Post- Home sales fell by 9.5% in May across the country, according to the Canadian Real Estate Association.
The Ottawa-based group, which represents 100 boards across the county, said sales activity was down in 70% of local markets but it was the Toronto, Vancouver and Ottawa markets that pulled the national number down.
The group says new mortgage rules which make it harder to borrow and kicked in April 19 pushed people to make a purchase ahead of the spring market. Rising mortgage rates were another reason given for the decline.
“May was the first full month in which sales activity was affected by these changes,” said Georges Pahud, president of CREA. “An accompanying decline in new listings and housing starts means these changes are also affecting the supply side, which will keep the market balanced and Canadian home prices stable…”
