Residential permits decreased 8.3% to $6.4 billion in August, the lowest level since March. Ontario and British Columbia drove most of the decline. Construction intentions for multi-family units fell 15.9%, largely reflecting Ontario’s decline (-24.3%). This was despite the approval of high value condominium projects in the city of Toronto. In contrast, single family intentionsRead more
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In August, the Teranet–National Bank National Composite House Price IndexTM was up 1.0% from the previous month. It is now the third consecutive month in which the monthly price increase is lower than the previous month (2.8% in May, 2.7% in June and 2.0% in July). The August index was led by six of theRead more
The total value of building permits in Canada decreased 3.9% to $9.9 billion in July. All provinces except British Columbia and Newfoundland and Labrador posted lower values, with the majority of the national decline reported in Alberta (-23.4%). Building permits fell 3.1% in the residential sector and 5.6% in the non-residential sector. On a constantRead more
July Labour Force Survey (LFS) data reflect labour market conditions during the week of July 11 to 17. Between the June and July reference weeks, many jurisdictions substantially eased public health restrictions affecting indoor and outdoor dining, recreation and cultural activities, retail shopping, and personal care services. All public health restrictions—aside from some masking andRead more
In May the Teranet–National Bank National Composite House Price IndexTM was up 2.8% from the previous month, the largest monthly rise since the index series began in 1999. It was led by four of the 11 constituent markets: Ottawa-Gatineau (4.9%), Halifax (4.3%), Hamilton (3.7%) and Toronto (3.4%). Rises were more moderate for Vancouver (2.3%), WinnipegRead more
Housing markets in Canada and the US are sizzling. Recent headlines have used superlatives to describe housing market conditions in both countries and the data do back this up. Still, a closer look reveals some interesting distinctions as well. Home price and sales metrics show that while the US market is hot, Canada’s is hotter.Read more
Canadian home sales took a turn in April 2021, declining by 12.5% (sa m/m) from the highest level on record in March 2021. Listings followed suit, falling by 5.4% (sa m/m). While both sales and listings decreased in April, the smaller decline in listings further eased the national-level sales-to-new listings to 75.2% from record highRead more
Just over two-thirds (67.1%) of Canadians were asset resilient for at least three months in 2019, up from 63.6% in 1999. Over these two decades, several factors contributed to the overall rate of asset resilience. For one thing, Canadians held more liquid assets at the end of the period. Median person-adjusted household liquid assets roseRead more
The Teranet-National Bank HPI jumped 1.5% to a new high in March, its 17th straight monthly rise. Its recent vigour coincides with historically high numbers of home sales in most regions of Canada, coupled with limited supply. The monthly jump of the unsmoothed HPI was even bigger – 2.7%, the most of any month sinceRead more
(NC) Many of us have heard of scammers pretending to be from the Canada Revenue Agency. You may have even received a call or email yourself. But how do you know what you can trust? Avoiding this common scam is easier when you know what the agency will and won’t do. The agency will neverRead more
