Canadian housing market is regaining its balance
Filed Under Main Content · Tagged: Canada, Collapse, Fear Mongering, House Price, Housing Bubble, Housing Market, National Bank, Price Index, Rapid Rise, Teranet
The Gazette- After a little bubble of fear-mongering in the media this year, you don’t hear so much these days about the horrors allegedly in store for Canada from the bursting of a housing bubble.
That’s probably because the evidence is piling up that there was no such bubble and, maybe not surprisingly, the nonexistent bubble isn’t bursting.
The latest reassuring report comes from the Teranet- National Bank house price index for August, which shows that the formerly rapid rise in prices has slowed to a crawl, but offers no sign of a collapse…
Canadian housing market is regaining its balance
Canada’s May home resale prices up for 13th straight month, but not likely to be sustained
Filed Under Main Content · Tagged: Ahead, Canada, House Price, Last September, National Bank, Pace, Price Index, Recession, Resale Prices, Rose 13, Survey, Teranet, Toronto, Vancouver Sun
Vancouver Sun- Canadian home prices rose 1.3 per cent in May, their largest monthly gain since last September, but are unlikely to keep up the pace in months ahead, according to the Teranet-National Bank composite house price index, released Wednesday.
On an annual basis, prices rose 13.6 per cent and are now 4.2 per cent higher than their pre-recession peak.
Prices have now advanced for 13 straight months, the survey showed.
The yearly gains were strongly influenced by advances in Canada’s major markets, with Vancouver up 17.1 per cent year over year and Toronto up 16 per cent…
Canada’s May home resale prices up for 13th straight month, but not likely to be sustained
Weights & measures
Filed Under Main Content · Tagged: Amp, Bank Financial Group, Banks, Economist, Economy, Harmonized Sales Tax, House Price, House Prices, Housing Market, July 1, Low Mortgage, Mortgage Rates, National Bank, Pinsonneault, Price Index, Sales Tax, Strategy Group, Teranet, Toronto Housing, Weights Measures
Financial Post-The days of exceptionally low mortgage rates are coming to an end as a number of banks announced higher fixed rates this week.
However, the higher rates may not immediately slow the Toronto housing market.
"I think that higher rates will be somewhat balanced by the fact that, in Toronto, people might rush into the market in order to beat the introduction of the harmonized sales tax [July 1]," says Marc Pinsonneault, senior economist, economy and strategy group, National Bank Financial Group.
Certainly, rising prices had not slowed the rush of buyers to the market in the early part of the year. This week’s Teranet-National Bank National House Price Index, which traces resale numbers, showed a 0.7% increase in house prices in Toronto in January, compared with the previous month. The year-over-year rise was 9.4%…
Resale home prices rise for seventh straight month
Filed Under Main Content · Tagged: Calgary, Composite Index, Halifax, House Price, Metropolitan Markets, Montreal, National Bank, Ottawa, Price Changes, Price Index, Repeat Sales, Resale Home, Resale Prices, Rose, Single Family, Teranet, Toronto, Vancouver
Financial Post- Canadian home resale prices rose for a seventh straight month in November on gains in all six major metropolitan markets surveyed, a report released on Wednesday says.
The Teranet-National Bank composite house price index, which measures price changes for repeat sales of single-family homes, showed overall prices were up 0.8% in November from October.
Vancouver led the gains, rising 1.9%, the only market to exceed the national average. Without Vancouver, the composite index would have been up 0.5%, the report said. Toronto and Calgary both recorded gains of 0.6% in November, followed by 0.4% increases in each of Halifax and Ottawa. Montreal posted the smallest rise, up 0.1%…
