Mortgage Insurance Insights Newsletter
Housing Market Trends
August 1, 2015 | Mortgage Insurance Insights Newsletter
To view additional monthly aggregate house price data for 13 of Canada’s major cities, please visit the Brookfield RPS House Price Index site.
Source: CREA (The Canadian Real Estate Association)
HOUSING MARKET SUMMARY
- Throughout the spring market, home price appreciation continued to be strong in Vancouver, Toronto and Hamilton, while other major markets in Canada experienced relatively flat home prices. On a national level, house prices have risen 5% over last year.
- Much of Canada continues to exhibit balanced housing markets; however, some key markets are in seller’s territory, including Greater Toronto, Hamilton, Vancouver and Calgary.
- In recent months, Alberta’s sales-to-new listings ratio has stabilized after experiencing a significant rebalancing earlier this year.
NOTE: Traditionally, a buyer’s, balanced or seller’s market is defined by the following ranges of sales-to-listings percentages:
|| < 35%
|| Buyer’s Market (More homes are for sale than there are buyers)
|| Balanced Market
|| > 55%
|| Seller’s Market (More buyers available than there are homes for sale)
NOTE: Click on the image of the map to download/print in PDF format.