Canadian Real Estate News Headlines (March 19th 2019)
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I provide you with Canada’s news headlines for real estate news for today.
Canadian Real Estate Prices Go Negative For The First Time Since 2009
Canadian real estate markets are heading into the busy season with negative price growth. Canadian Real Estate Association (CREA) numbers show an annual decline for the price of a benchmark home in February. The decline for the benchmark is the first since 2009, and the first for the index outside of recession.
Real estate contributing less to the moderating Canadian economy
Real estate and consumer spending are providing less support to the Canadian economy, according to Deloitte Canada chief economist Craig Alexander.
In a new study, Alexander warned that 2019 will likely be “a year of economic transition, both internationally and in Canada.”
Canadian home sales fall in February, average price down
The average price for homes sold last month was down 5.2 per cent from last year as the number of sales dropped to a 10-year low for the seasonally weak month of February, the Canadian Real Estate Association reported Friday.
The national association highlighted the impact of a mortgage stress test that affects federally regulated lenders, including the big banks, but some analysts said February's drop may be due in part to severe winter weather.
Jethro Seymour, Toronto Real Estate Broker,
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