Joanne Chabrol’s Post

TD raised its housing sales and price forecasts. Here’s how it sees the real estate market unfolding over the next year Further rate cuts: • 50 basis points in Q4 2024, 125 in 2025, and 25 in Q1 2026 (totaling 200 basis points). • Overnight rate to drop from 4.25% to 2.25%. Home sales and prices: • Existing home prices expected to rise between 3.6% and 7% across provinces in 2025. • Strongest growth anticipated in Prairie provinces (Alberta, Saskatchewan, Manitoba). • Ontario home prices expected to recover, with a 4.6% increase. Pent-up demand, especially in Ontario, could lead to faster sales and price increases amid falling interest rates. https://zurl.co/S9oF

Interest rate cuts are finally boosting housing market activity in a visible way across Canada. Early results for October from local real estate boards almost universally showed big jumps in home resales from September. Increases were even greater relative to year-ago levels when sales action was especially quiet in most areas. It seems the 125 basis-point rate reduction the Bank of Canada has delivered to date is what many potential buyers had been waiting for to jump into the market. The material rise in inventories this year is also no doubt a source of motivation, giving buyers more options to choose from.

Following two cuts to the overnight lending rate by the Bank of Canada, home sales saw a slight boost in August, according to the latest report from the Canadian Real Estate Association. 📈 However, the housing market still feels stuck in a holding pattern, leaving home prices mostly unchanged. 🏡 🔗 Tap the link to read more about real estate activity in our latest blog post on the Royal LePage blog. 📥️ Remember to sign up for our e-newsletter to receive new content straight to your inbox. . . . #royallepage #realestate #realtors #agents #canada #news #industry #brokers #homeowner #buying #selling #interestrates #bankofcanada #housingmarketing #housing #homeprices

🏠 Following a "sleepy" month in May, Canada's housing market is poised for a potential rebound spurred by recent monetary policy changes. Despite a slight decrease in home sales last month, CREA's Senior Economist Shaun Cathcart anticipates renewed activity following the Bank of Canada's recent rate cut. This adjustment, though modest, is expected to invigorate buyer interest, particularly among those who've been awaiting a signal to enter the market. Additionally, an increase in available listings compared to last year suggests a more balanced playing field, offering prospective buyers more options than in recent years. While challenges persist, such as a slight uptick in months of inventory and a marginal dip in the National Composite MLS® Home Price Index, the market dynamics are evolving, hinting at a potentially revitalized phase ahead.

House prices have increased significantly in several capitals over the year ending the October quarter of 2024, with Perth still clearly the top performer, up by 29.8%, followed by Brisbane, up 23.6%, Adelaide higher by 14.8%, and Sydney up 6.2%. Perth, Adelaide and Brisbane saw dwelling values increase by more than 65% since March 2020, while Sydney is still the least affordable city to buy in. Affordability metrics have worsened, with the median dwelling value-to-income ratio rising to 8.0. Median income households needed 10.6 years to save a 20% deposit. The major banks research anticipates improvements in mortgage serviceability in early 2025 due to expected rate cuts by the Reserve Bank of Australia, this will however act to refuel housing markets. High rents and higher prices generally however are providing clear incentives for first home buyers and particularly investors chasing solid investment returns.

Canada’s housing market still in a wait-and-see mode: 👉Home resales have yet to break from their mainly flat trend, rising just marginally by 1.3% between July and August in Canada. 👉As inventories grow—now the equivalent of 4.1 months of sales nationwide, or more than double the cyclical lows reached in 2021—buyers are under significantly less pressure to act quickly. 👉More balanced supply and demand conditions contribute to stabilizing property values: the national composite MLS Home Price Index benchmark was unchanged between July and August at $717,000. 👉We expect the wheels of the market to turn gradually faster as the Bank of Canada delivers further cuts in the coming months. 👉Still, it may take until the spring for a more vibrant pace of activity to return. Check out full details below 👇 https://lnkd.in/g_9_a2Tx

The latest data from the Canadian Real Estate Association (CREA) reveals that the market is responding positively to the recent Bank of Canada rate cut. Existing home sales climbed 3.7% in June, showing signs of renewed life. The changes to the capital gains inclusion rate that came into effect in June may have made an impact on Canada's housing numbers. Learn more: https://bit.ly/4d2buvW

The Canadian real estate market showed further signs of sluggishness in May, with the national benchmark home price slipping to $714,300, down 0.2 per cent from April to May 2024, and 2.4 per cent year over year. Despite this, the Canadian Real Estate Association (CREA) remains optimistic, expecting the recent rate cut by the Bank of Canada to inject new life into the market.

CANADA—The national average home price came in at a hefty $703,446 in April, according to the Canadian Real Estate Association (CREA). While that marks a slight 1.7% dip from the same time period last year, it means today’s home buyers are shelling out $200,000 more to buy an average-priced home than they would have five years ago. The short-term affordability picture isn’t looking any rosier. The latest monthly affordability study from Ratehub.ca finds that borrowing conditions got tougher in 10 out of 13 of Canada’s major housing markets in April, largely due to month-over-month growth in home prices.