Canadian home sales decline further in August

Posted by on Sep 15, 2016 in CREA News

Canadian home sales decline further in August

Ottawa, ON, September 15, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined for a fourth consecutive month in August 2016. Highlights: National home sales fell 3.1% from July to August. Actual (not seasonally adjusted) activity came in 10.2% above August 2015. The number of newly listed homes declined 2.7% from July to August. The MLS® Home Price Index (HPI) rose 14.7% year-over-year in August. The...

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CREA Updates Resale Housing Forecast

Posted by on Sep 15, 2016 in CREA News

Ottawa, ON, September 15, 2016 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2016 and 2017. Canadian housing market trends have largely evolved in line with previous expectations over the second quarter of 2016, with the exception of sales activity in British Columbia and Ontario. Sales in the Lower Mainland of British...

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Bank of Canada keeps interest rates on hold

Posted by on Sep 8, 2016 in CREA News

The Bank of Canada announced on September 7th, 2016 that it was keeping its trend-setting target overnight lending rate at 0.5 per cent. The Bank acknowledged that inflation risks were “tilted more to the downside since July” when it published its most recent economic forecast. Normally, this would signal that it may lower interest rates in the near future. However, the Bank also said it remains concerned about rising mortgage debt, throwing cold water on the idea that it...

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