Conference Board of Canada foreseeable outlook for Canadian Real Estate economy
The Board’s Canadian Outlook Summary: Summer 2020, in contrast to projections made by institutions like the Canadian Mortgage and Housing Corporation, predicts less dramatic declines in housing prices, but its remaining insights track closely with projections that see the damage done to Canada’s economy at the hands of COVID-19 lingering well into 2021.
Conference Board releases mid-term outlook for Canadian real estate, economy #
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Prices steady as resale home sales increase Metro Vancouver's June housing sales up month-over-month and 17 per cent above June 2019 with prices higher than a year ago
The total number of homes currently listed for sale on the MLS system in Metro Vancouver is 11,424. That's 23.7 per cent down from the 14,968 homes that were listed for sale in June 2019, but up 15.1% per cent from the 9,927 listed properties in May 2020.
For all property types, the sales-to-active listings ratio for June 2020 was 21.4 per cent. By property type, the ratio is 19.9 per cent for detached homes, 25.2 per cent for townhomes, and 21.3 per cent for apartments. Real estate insiders tend to describe the market as a “buyers’ market” when the sales-to-active-listings ratio is less than 12 per cent, and a “sellers’ market” when that ratio is above about 20 per cent for several months in a row.
Sales of detached homes in June reached 866, up 16.1 per cent from the 746 detached sales recorded in June 2019. The benchmark price for a detached home was $1,464,200, up 3.6 per cent from June 2019, and up 0.5 per cent from May 2020.
Prices steady as resale home in Metro Vancouver housing sales on June-Q2, incr
RE/MAX: COVID-19 can’t slow demand in Toronto real estate market
COVID-19 has not significantly deterred buyers in Toronto due to the market-friendly monetary and fiscal conditions driven by the federal government and the Bank of Canada, according to a RE/MAX analysis.
While employment levels have fluctuated and businesses have placed themselves on hold over the last few months, “at the same time, there has been sustained activity in the number of buyers compared to available listings,” RE/MAX said. “This is one of the chief factors in supporting price growth relative to last year’s pace, despite shifting market conditions.”
RE/MAX: amidst the Pandemic Toronto Real estate market is growing #LesTwarog
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