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RBC Monthly Housing Market Update November 2017

Marnie

Frequent Forum Member
Staff member
REIN Member
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Oct 6, 2016
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354
RBC Economics Research released it's monthly housing market update and according to them it was all about continuity in Canada. While this gives more of an over-arching update, specific regions in each province (and in some cases it comes down to neighbourhood) may perform differently so as always it's important to use your REIN Goldmine Scorecard to do your own investing diligence.

Highlights of the report:

  • The Fall home-buying season is uneven across Canada but activity continues to recover overall.
  • October was quite a busy month in Vancouver and Montreal, and saw a third-straight monthly gain in home resales in Toronto.
  • Calgary and several other Prairie markets remained stuck in a soft patch.
  • Price pressures eased further at the national level, primarily reflecting cooler conditions in Toronto.
  • There continues to be limited downside risks to prices in the near term because the majority of local markets—including Toronto—are in balance.
  • More stringent qualifying criteria facing borrowers of uninsured mortgages by January 1, 2018, is poised to affect the outlook for the coming months.
Link to the full report
http://www.rbc.com/economics/economic-reports/pdf/canadian-housing/housespecial-nov17.pdf
 
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