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3 clusters · 10 sources · 27 days · First seen · Last updated
Canadian residential real estate market trends
Overview
The Canadian residential real estate market has experienced a slowdown in sales volume. In the Greater Toronto Area, September home sales fell 9% year-over-year to 5,040 units, with the average selling price dropping to $1,006,409. Analysts attribute this decline to economic uncertainty, inflation, rising bond yields, and higher fixed mortgage rates, alongside buyer reactions to geopolitical tensions and gas prices.
In Red Deer, Alberta, total residential sales through September decreased by 7% compared to the previous year. While detached home sales remained relatively stable with a 1% decline, apartment sales saw a significant 28% drop. Despite the lower sales volume, the overall residential average price in Red Deer rose 9.2% year-over-year to $435,425, and inventory increased by 12.7%.
Recent data indicates a significant split in regional performance. In Toronto, housing starts fell 61% in September compared to the previous year, with only 1,440 homes started; Montreal also reported a 51% decline. In contrast, Calgary and Vancouver reported gains, with Calgary leading the five largest markets in absolute starts.
A regional divide has also emerged in British Columbia. While southern markets like Greater Vancouver and Chilliwack experienced sales declines, Northern B.C. remained relatively steady, with sales only declining 2.7% and average home prices rising 7.6% year-over-year. Nationally, the seasonally adjusted annual rate of housing starts rose approximately 3% to 248,896 units. The Canada Mortgage and Housing Corp. noted that six-month trends suggest monthly volatility rather than a sustained collapse in certain sectors.
Entities
Canada Mortgage and Housing Corp · Toronto Regional Real Estate Board · Vancouver · Greater Toronto Area · Bild
Timeline
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[BUSINESS] 2 sourcesCanadian housing markets show regional divergence in September
Canadian housing markets showed mixed results in September, with Toronto starts dropping 61% while Calgary and Vancouver saw gains, and Northern B.C. bucked provincial cooling trends.
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[BUSINESS] 3 sourcesCanadian housing markets see declining sales in Toronto and Red Deer
Canadian housing markets show mixed trends as sales volumes decline in the Greater Toronto Area and Red Deer, Alberta, amid fluctuating mortgage rates and economic uncertainty.
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[BUSINESS] 5 sourcesReal estate markets show divergent trends in Taiwan and Canada
New housing markets show mixed results: Northern Taiwan's residential project volumes fell 17.6% due to cautious developers, while Greater Toronto's low-rise sales surged over 200% driven by tax rebates.
Sources
1059theregion.com · canadanewsmedia.ca · eawaz.com · epochtimes.com · house.ettoday.net · myhousing.com.tw · myprincegeorgenow.com · news.cnyes.com · news.yesky.com · reddeeradvocate.com
This summary has been updated 1 time: see revision history