Author: inboks
By Sammy Hudes That’s the hope for one developer whose offer joins a growing list of incentives aimed at luring buyers, as hesitation lingers across most major housing markets in Canada. The campaign announced last week by Mattamy Homes would see the firm cover mortgage payments for up to a year on its new builds located within six neighbourhoods in the Calgary and Edmonton areas. Eligible properties must be ready for occupancy by the end of 2026 and Mattamy has capped the total incentive at roughly $50,000, suggesting a home worth up to about $1.02 million. “I’d be lying…
By Sammy Hudes A report released Thursday by Royal LePage forecasts the median price of a single-family home in Canada’s so-called recreational regions to rise four per cent year-over-year to $604,552. It said the weighted median price of a single-family home increased 4.3% year-over-year in 2025 to $581,300. Each provincial market is expected to see price increases this year, led by a 5.5% gain in Saskatchewan and Manitoba to a median price of $296,877, and a five per cent increase in Atlantic Canada to a median price of $361,305. B.C. is the most expensive province to own a recreational home…
By Sammy Hudes It now expects sales to fall 1.8% year-over-year, on average, and home prices to move 0.3% lower nationally. As of December, TD had forecasted a 9.3% year-over-year gain in home sales for 2026 as well as a 4.1% increase in average home prices. Economist Rishi Sondhi said housing activity will likely take most of the year to recoup first-quarter losses, as sales remain constrained by a subdued economy, heightened uncertainty and ongoing cost of living pressures. “While severe weather in Central and Atlantic Canada weighed on activity early in the year, weakness was also evident in B.C.,…
By Allison Jones The province is projecting just 64,800 housing starts this year — 10,000 fewer than it expected for this year in last year’s budget and 30,000 fewer than the 2024 plan projected. The government’s own math early on in its bid to get 1.5 million homes built by 2031 showed that housing starts should be at 175,000 per year. That was a different time, said Municipal Affairs and Housing Minister Rob Flack. “It was a goal set in 2022 when we had robust housing starts,” he said Thursday after the budget was tabled. “We don’t today.” Finance Minister…
Rent growth may be cooling across Canada, but for many renters, it likely doesn’t feel that way. A new analysis from Rentals.ca and Urbanation suggests one reason why: even as rents stabilize, the amount of space renters are getting has been shrinking. Since 2024, the average unit size has fallen to 719 square feet from 754 square feet, a decline of roughly 4.6%. Average asking rent in Canada fell to $2,030 in February, down 2.8% from a year ago and marking a 33-month low. That’s the 17th consecutive annual decline, with rents also falling 1.3% from January, the largest February…
Housing start data remained strong in 2025 and early 2026, even as condo sales hit record lows and project cancellations surged, raising questions about how accurately the metric reflects current conditions. The Canada Mortgage and Housing Corporation (CMHC) reported a 5.6% increase in housing starts in 2025, totalling about 260,000 units. Housing starts also increased 4.5% in February this year after slipping 15% in January. Last year, however, also marked the worst year for the GTHA’s new condo market since 1991, with sales plunging 95% from their 2021 peak and prompting the cancellation of 7,243 new condo units. Mike Moffatt,…
American agreements to buy existing-home sales improved better-than-expected, but still trended lower. The National Association of Realtors (NAR) Pending Home Sales Index (PHSI) made a small improvement in May. However, pending home sales, a leading indicator of future home sales, is way below last year. NAR expects this trend to continue, forecasting existing-home sales will slide through 2023. Pending Home Sales Are Better Than Expected, But Still Falling Pending home sales are agreements to purchase a home that have yet to close. They’re considered a future indicator of buying activity, since it’s an early gauge. The PHSI climbed 0.7% in…
It’s the credit, stupid. That’s basically the conclusion from a US Federal Reserve Board staff paper. The paper, Volatility in Home Sales and Prices: Supply or Demand?, examined price levers. It paid special attention to the recent home price surge during the pandemic. The ultimate conclusion is stimulated demand was responsible for the surge, not a lack of supply. They join increasing amounts of central bank research at odds with political narratives around costs. Demand Was Responsible For Most Price Gains Over The Past Two Decades The researchers looked at short-run fluctuations in home sales and prices. Modeling various environments,…
US real estate isn’t exactly slow, but it’s a big change from last year’s market. National Association of Realtors (NAR) existing-home data shows sales fell again in June. It was the fifth consecutive month to see a drop, while inventory continued to rise. The market is still tight, but showing its first sign of weakness — home prices in the West have begun to fall. US Existing-Home Sales Fell For A Fifth Consecutive Month, Down 14% US existing-home sales slipped again last month. The seasonally adjusted annual rate (SAAR) of homes fell to 5.12 million in June, down 5.4% from…
Canada’s national statistics agency quietly dropped a Christmas gift for analysts this morning. Statistics Canada (StatCan) data shows household debt-to-income (DTI) climbed sharply in Q3—but the real insight was a bonus DTI normalized for US comparison. The agency notes that American households saw their ratio peak in 2007, while Canadians kept piling on debt until the ratio peaked in 2022. Both countries peaked just after home prices hit record highs, followed by a sharp correction and broad deleveraging. Debt-To-Income Ratio Before we dive into the data, let’s quickly make sure we’re all on the same page—no data nerd left behind.…