Orderly Housing Correction Continues

General Bob Rees 14 Oct

Orderly Housing Correction Continues There are many unusual aspects to the current housing correction, but fundamentally the most noteworthy is how orderly and non-chaotic it has been. Home sales have slowed, but so have new listings, so the price declines are more muted than we might have expected. This is not a housing collapse. It […]

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Job Market Weakens As Economy Slows

General Bob Rees 12 Sep

Job Market Weakens As Economy Slows The August employment report, released this morning by Statistics Canada, was considerably weaker than expected. Higher interest rates have slowed the red-hot labour market. The Canadian economy shed 39,700  jobs in August, missing market expectations of a 15,000 rise and bringing cumulative declines since May 2022 to 113,500 (see chart below). […]

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Housing Slowdown Continues in July

General Bob Rees 15 Aug

Housing Slowdown Continues in July Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates continued in July, albeit at a slower pace. Home sales recorded over Canadian MLS® Systems fell by 5.3% between June and July 2022. The pace of home […]

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The Canadian Economy Is Slowing–Job Markets Will Begin To Shift

General Bob Rees 5 Aug

The Canadian Economy Is Slowing–Job Markets Will Begin To Shift The July employment report, released this morning by Statistics Canada, is a real head-scratcher. The job numbers fell for a second consecutive month, but so did the number of job seekers, so the unemployment rate remained unchanged at a historic low of 4.9%. I have […]

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Canadian Inflation Surged to 7.7% In May

General Bob Rees 22 Jun

Canadian Inflation Surged to 7.7% In May Canada’s consumer price index increased 7.7% in May from a year earlier, up from 6.8% in April, the fastest inflation pace since January 1983. The release confirms that the Bank of Canada is staring down the most dangerous burst of Inflation since it started targeting the consumer price index in […]

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Housing Market Correction Gains Steam in May

General Bob Rees 15 Jun

  Housing Market Correction Gains Steam in May Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, national home sales dropped by 12.6% monthly (m/m). National home sales fell by 8.6% between April and May, building […]

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“Canada’s housing market is cooling down but it is still hotter than the long-term average and will likely stay that way for the next couple of years.”

General Bob Rees 25 May

Thank you to one of our preferred lenders, First National, for the below insight!       May 17, 2022 First National Financial LP   Canada’s housing market is cooling down but it is still hotter than the long-term average and will likely stay that way for the next couple of years. The latest Housing […]

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Canadian Housing Market Feels The Pinch of Higher Rates

General Bob Rees 17 May

Canadian Housing Market Feels The Pinch of Higher Rates Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, national home sales dropped by 12.6% on a month-over-month (m/m) basis. The decline placed the monthly activity at […]

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Labour Market Bumps Up Against Capacity Constraints

General Bob Rees 16 May

Labour Market Bumps Up Against Capacity Constraints Job vacancies abound in many sectors, yet employers have trouble finding workers to fill those jobs and retaining workers with so many options available. As the jobless rate falls to new record lows, net new employment has slowed. This is not dissimilar to the housing market, where supply […]

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