Canada's Home Prices

2023-6-21

Canada’s Home Prices have been quite unstable in recent years. The Canadian housing market experienced a turning point in May, as the average home price in the country rose year over year for the first time in 12 months. According to data released by the Canadian Real Estate Association (CREA), the national average home price reached $729,000 in May, representing a 3.2% increase compared to the same period last year. Strong sales in the Lower Mainland of British Columbia and the Greater Toronto Area (GTA) were the main factors driving this positive development. In addition to the rise in prices, home sales also continued their upward trend in May, with a 5.1% increase from the previous month. This followed a significant surge in April and smaller gains in February and March. Approximately 70% of local markets, including major cities like Toronto, Montreal, Vancouver, Calgary, Edmonton, and Ottawa, witnessed an increase in sales.

Home Sales in Canada

The year-over-year increase in home sales, which was 1.4% higher than May 2022, marked the first national sales growth in almost two years. CREA chair Larry Cerqua emphasized the positive momentum in the market but noted that the extent of the recovery on the sales side versus the price side would depend on the supply, which remains limited. Although there was a 6.8% month-over-month increase in inventory in May, overall supply levels remain historically low. Christopher Alexander, Re/Max Canada president, warned that if inventory does not increase significantly, the market could experience further price hikes. Situational demand is still greater than supply due to various factors, such as life events.

While additional interest rate increases before the end of the year might moderate price growth, Alexander believes that the recent 0.25% interest rate hike in June alone is unlikely to significantly affect consumer confidence. He also highlighted that many homeowners have gained substantial equity over the years, positioning them well to make moves in the market. Overall, the Canadian housing market’s recovery and the year-over-year increase in average home prices indicate a positive shift. However, the market’s trajectory will continue to depend on factors such as supply levels, interest rate movements, and consumer confidence.

房產新聞

經濟學家表示:最近房源數量的增加,可能是由於房主的負擔能力有限所致
在年初時,加拿大的房源供應量達到了二十年來的最低點,但在過去幾個月裡,供應量又穩步回升。 雖然新房源的湧入有助於市場更趨於平衡………..

2023-9-19

房產新聞

卡爾加里的房產銷售額仍在8月份創下了與之相反的記錄
據周五由卡爾加里房地產局(CREB)發布的最新統計數據,由於公寓市場的房產銷售數字持續飆升,卡爾加里今年8月創下了房產銷售量新高的紀錄. …..

2023-9-2

房產新聞

身陷住房危機限制國際學生人數能解決問題嗎?
身陷住房危機限制國際學生人數能解決問題嗎?- 無論是東岸還是西岸,加拿大都正處於緊繃的住房危機之中。…..

2023-9-30

Recommended Articles

房產新聞

經濟學家表示:最近房源數量的增加,可能是由於房主的負擔能力有限所致
在年初時,加拿大的房源供應量達到了二十年來的最低點,但在過去幾個月裡,供應量又穩步回升。 雖然新房源的湧入有助於市場更趨於平衡………..

2023-9-19

房產新聞

卡爾加里的房產銷售額仍在8月份創下了與之相反的記錄
據周五由卡爾加里房地產局(CREB)發布的最新統計數據,由於公寓市場的房產銷售數字持續飆升,卡爾加里今年8月創下了房產銷售量新高的紀錄. …..

2023-9-2

房產新聞

身陷住房危機限制國際學生人數能解決問題嗎?
身陷住房危機限制國際學生人數能解決問題嗎?- 無論是東岸還是西岸,加拿大都正處於緊繃的住房危機之中。…..

2023-9-30

Condo Market

Fraser Valley Sees Home Sales
Despite a recent marginal improvement in housing affordability, Canada continues to face an ongoing affordability…..

2023-8-30

Condo Market

Housing Affordability Remains a Challenge in Canada
Despite a recent marginal improvement in housing affordability, Canada continues to face an ongoing affordability…..

2023-7-30

Condo Market

Canada's Home Prices
The Canadian housing market experienced a turning point in May, as the average home price…..

2023-6-21

News

Canadian mortgage borrowers' costs are rising
Numerous mortgage holders in Canada regret getting ensnared in the low-rate trap. According to data…..

2023-2-16

News

Best Department Stores in Toronto
Shopping in a new location is always a great concept since you’re tempted to purchase…..

2023-2-12

News

Guide To become A Real Estate Agent
As of April 30, 2019, OREA will no longer accept new student registrations. Registration for…..

2023-3-10

房產新聞

We Share Success!领峯地产第三届颁奖典礼暨年度庆典隆重举行
2023年1月23日,恰逢农历新年大年初二,领峯地产举办了盛大的第三届颁奖典礼暨年度庆典。刚刚下过一场雪的Sheraton酒店外,粉装玉砌,皓然一色……………

2023-1-30

地產經紀

切勿錯過!最新加拿大專業地產經紀考牌指南
自2019年7月19日起,Humber College正式开始接受地产经纪牌照考试的学生注册,新生可通过Humber College………

2023-03-31

房產新聞

北约克黄金位置,户型绝佳超高性价比Olive Residences横空出世
Olive Residences位于黄金位置Yonge & Finch社区,这里是华人最喜爱的C14区。Yonge & Finch在多伦多乃至加拿大都享有很高的知名度………

2023-01-05

房產新聞

多伦多市中心Church&Dundas首发!Centricity Condos仅$50余万起!
全新的Centricity Condos毗邻有多伦多“时代广场”之称的Dundas Square便是中心的中心……………

2023-1-02

市場分析

大多伦多地区12月房产报告,隐藏的意思你看懂了吗?
受加拿大央行持续加息影响,2022年12月大多伦多地区(GTA)的住房市场出现下跌,平均成交天数为27天,上升了92.9%………..

2023-1-11

房產新聞

与名人当鄰居!獲冬奧冠軍的加拿大運動員選South Forest Hill
这位选择South Forest Hill Residences作为她第一套房子的名人,是加拿大女子冰球运动员莎拉·纳斯 (Sarah Nurse)。在2022年北京奥运会上……………

2023-1-30

市場分析

加拿大央行再次上调利率!11月大多地区房产销量下降一半!
加拿大央行再次上调利率50个基点!大多地区11月房产报告出炉,受央行大幅加息冲击,11月房产销量、挂牌量………..

2022-12-07

房產新聞

重磅!最新解读《加拿大禁止非居民购买住宅物业法案》
2023年1月1日开始,加拿大政府为期两年的禁止海外买家购买住宅物业的禁令即将生效。一石激起千层浪,到底什么样的人不具有买房资格?…..

2022-12-22 17:16

5/5 - (3 votes)