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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Canadian home sales post third consecutive decline in July

Posted by on Aug 15, 2016 in CREA News

Ottawa, ON, August 15, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined for a third consecutive month in July 2016. Highlights: National home sales fell 1.3% from June to July. Actual (not seasonally adjusted) activity came in 2.9% below July 2015. The number of newly listed homes rose 1.2% from June to July. The MLS® Home Price Index (HPI) rose 14.3% year-over-year in July. The national average...

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Canadian home sales decline further in June

Posted by on Jul 15, 2016 in CREA News

Ottawa, ON, July 15, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined further in June 2016. Highlights: National home sales fell 0.9% from May to June. Actual (not seasonally adjusted) activity came in 5.2% above June 2015. The number of newly listed homes rose 2.2% from May to June. The MLS® Home Price Index (HPI) rose 13.6% year-over-year in June. The national average sale price climbed 11.2%...

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Bank of Canada again keeps interest rates on hold

Posted by on Jul 14, 2016 in CREA News

The Bank of Canada announced on July 13th, 2016 that it was keeping its trend-setting target overnight lending rate at 0.5 per cent. The announcement repeated many of the themes from its announcements and Monetary Policy Reports (MPRs) published in late 2015 and early 2016. Chief among these themes is how the Bank is still counting on the continuation of low interest rates and stronger U.S. economic growth to buoy Canadian exporters amid ongoing weakness in Canadian...

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