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Mortgage Insurance Insights Newsletter

Housing Market Trends


Year-over-Year Percentage Changes (Oct. 2015)
To view additional monthly aggregate house price data for 13 of Canada’s major cities, please visit the Brookfield RPS House Price Index site.

Sales-New Listings (Oct. 2015)

Source: CREA (The Canadian Real Estate Association)

HOUSING MARKET SUMMARY

  • While overall house prices in Canada are up 8% from October 2014, virtually all of the appreciation can be attributed to three cities: Vancouver (+14%), Toronto (+11%) and Hamilton (+11%).
  • Beyond these three cities, house prices remain relatively flat in all other major markets across Canada.
  • Similar trends can be observed at a provincial level, where house price appreciation continues to be strong in BC (+12%) and Ontario (+9%), but relatively flat in all other provinces.
  • From a supply and demand perspective, British Columbia and Ontario are clearly identified as seller’s markets, while the rest of the country is much more balanced.

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)
= 36-54% 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.

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