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2 clusters · 5 sources · 14 days · First seen · Last updated

Canadian residential real estate market trends

Overview

Canadian residential real estate markets have transitioned toward a state of increased buyer leverage and regional divergence. Earlier reports indicated a slowdown in transaction volumes in areas like Kamloops and a trend in Alberta where a majority of properties in Calgary and Edmonton sold below asking prices.

By August, this cooling trend expanded across major regions. In the Greater Toronto Area, approximately 79 per cent of homes sold below the asking price, with 95 per cent of qualifying single-family home neighbourhoods being underbid. Regional performance showed significant variation: British Columbia experienced continued price declines in Vancouver and the Fraser Valley, while Calgary saw a seasonal adjustment decrease in resales and a drop in condo prices. While Montreal continues to face affordability issues, expanding inventory is noted as a potential source of relief.

Entities

Calgary · Wahi · RBC Economics · Vancouver · HouseSigma

Timeline

  1. [BUSINESS] 3 sources
    Canadian housing markets show regional divergence in August

    Canadian housing markets showed regional divergence in August, with cooling demand in Calgary and price declines in British Columbia, while GTA single-family homes saw increased underbidding.

  2. [BUSINESS] 2 sources
    Canadian real estate markets see shift toward buyer leverage

    Canadian real estate markets in Kamloops, Calgary, and Edmonton are shifting toward buyers, characterized by rising inventory and a trend of properties selling below asking prices.

Sources

durhampost.ca · epochtimes.com · kamloopsliving.com · marketwire.com · westernstandardonline.com