#bankofcanada #canadianrealestate #canadahousingmarket
Canada’s real estate market did not take off following the Bank of Canada’s interest rate cut due to its failure to affect a) buying power, and b) buyer psychology – this according to a new report from Royal LePage.
Links:
The spring market that never was: Canadian real estate remains in prolonged catch-up period as buyers idle on the sidelines:
Inventories rebuilding fast in Canada’s largest housing markets:
https://thoughtleadership.rbc.com/inventories-rebuilding-fast-in-canadas-largest-housing-markets/
The results are in: June’s rate cut didn’t revive Canada’s housing market:
https://globalnews.ca/news/10615309/june-rate-cut-canada-housing-market-impact/
GTA home sales down 16% in June despite interest rate cut: TRREB:
https://www.cbc.ca/news/canada/toronto/june-home-sales-gta-down-1.7254255
Home sales down, inventory sky-high for June in Metro Vancouver, Fraser Valley:
https://globalnews.ca/news/10601965/home-sales-down-inventory-up-metro-vancouver-fraser-valley/
How will the Bank of Canada’s rate cut impact homebuyer sentiment?:
Will the Bank of Canada’s interest rate cut spur the housing market?:
https://financialpost.com/real-estate/bank-of-canada-interest-rate-cut-housing-market
Would-be homebuyers are in limbo and only the Bank of Canada can free them:
https://financialpost.com/real-estate/mortgages/bank-of-canada-would-be-homebuyers-limbo
Royal LePage president predicts ‘material lift’ in home sales after BoC rate cut:
Real estate mogul Barbara Corcoran predicts interest rate cut could create a surge in home prices:
Posthaste: Sellers are swarming Canada’s housing market — especially in these cities:
https://financialpost.com/news/sellers-rush-back-canada-housing-market
Phil Soper is Storeys’ ‘top dog’ of Ontario real estate:
https://blog.royallepage.ca/phil-soper-is-storeys-top-dog-of-ontario-real-estate/
Phil Soper named one of real estate’s most influential leaders on the 2024 Inman Power Players list:
Home prices will return to pandemic peak by end of 2024: report:
Consumer price index:
https://www.statcan.gc.ca/en/subjects-start/prices_and_price_indexes/consumer_price_indexes
Policy interest rate:
https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/
Metro Vancouver home sales decline in June as inventory hits pre-pandemic levels: GVR:
‘Mere mortal’ Toronto home sellers resist waiting for fall market:
GTA home sales drop & new listings surge in June, first-time buyers await further rate cuts:
Toronto condo sales fall 28% in June as market slump felt across all types of housing:
https://financialpost.com/real-estate/toronto-homebuyers-interest-rate-cuts-june-sales-prices-fall
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