RBC Economics Research has released their monthly housing market update.
Highlights of the report:
· Today’s statistics provided more evidence that Canada’s housing market isn’t falling apart.
· Home resales rose modestly for the second-straight month in September, led by gains in Vancouver and Toronto.
· A strong increase in new listings tempered demand-supply conditions slightly—but conditions remained balanced overall.
· Price appreciation continued to moderate on a year-over-year basis.
· In Toronto, there was positive news for both sellers and buyers. Resales advanced for a second-consecutive month and new listings surged. Prices remained under downward pressure though this pressure is now easing.
· Developments in Vancouver favoured sellers. A sharp increase in resales tightened the market further, providing more fuel for prices to accelerate.
Highlights of the report:
· Today’s statistics provided more evidence that Canada’s housing market isn’t falling apart.
· Home resales rose modestly for the second-straight month in September, led by gains in Vancouver and Toronto.
· A strong increase in new listings tempered demand-supply conditions slightly—but conditions remained balanced overall.
· Price appreciation continued to moderate on a year-over-year basis.
· In Toronto, there was positive news for both sellers and buyers. Resales advanced for a second-consecutive month and new listings surged. Prices remained under downward pressure though this pressure is now easing.
· Developments in Vancouver favoured sellers. A sharp increase in resales tightened the market further, providing more fuel for prices to accelerate.