Teranet-National Bank National Composite House Price Index™.
August 25th, 2010 categories: Around TORONTO, Buying in Toronto, Economy, Real Estate, Selling in Toronto, Toronto
Teranet and the National Bank of Canada joined together about one year ago to produce this House Price Index of major centres across Canada. Please remember that it only reflects the large centres and is comprehensive for those living in those centres but would not reflect a vision of Canada as a whole. I get these newsletters monthly and you can subscribe to them at www.housepriceindex.ca.
Teranet’s data is from Land Registry systems across Canada so also reflects all transactions, not just those on MLS…
NEWSLETTER – AUGUST 25, 2010
Monthly price rise of 1.5% in June
Canadian home prices in June were up 13.6% from a year earlier, according to the Teranet-National Bank National Composite House Price Index™. The 12-month gain, identical to that of May, was strongly influenced by Vancouver, up 16.3%, and Toronto, up 16.2%. In the other four markets surveyed, the 12-month rise ranged from 7.1% in Halifax to 12.0% in Ottawa. In Calgary it was 8.3% and in Montreal 8.7%.
June was the third consecutive month in which prices were up from the month before in all six metropolitan areas surveyed. The monthly rise of the composite index, 1.5%, was the largest since last August. The monthly rise was 2.7% in Ottawa, 2.4% in Toronto, 1.4% in Montreal, 1.3% in Halifax, 0.8% in Vancouver and 0.2% in Calgary. For the composite index it was the 14th straight monthly increase, the longest such run since October 2006. Read the rest of this entry »
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Canadian Real Estate Association Revises Resale Housing Forecast
June 3rd, 2010 categories: Buying in Toronto, Economy, Real Estate, Selling in Toronto
OTTAWA – June 2, 2010 – The Canadian Real Estate Association (CREA) has lowered its forecast for home sales via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations. The revision reflects a weaker than expected start to the year in British Columbia, and recent developments that pulled forward the timing as to when sales are expected to ease in other provinces.
CREA’s previous national forecast was heavily influenced by British Columbia and Ontario forecast trends, and this remains the case in the revised forecast. While sales activity is unfolding as expected in Ontario, the decline in affordability in British Columbia impacted sales in the province during the first quarter.
Additionally, changes to mortgage regulations announced in February are expected to marginally impact activity. The changes prompted some homebuyers to finance their home purchase before the new regulations took effect in April, which pulled forward a number of sales that would have otherwise taken place at a later date. Read the rest of this entry »
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Real Estate: Competition Bureau vs. CREA: Editorial In Today’s Toronto Sun
March 24th, 2010 categories: Around TORONTO, Real Estate, Toronto
I salute the Toronto Sun for its balanced editorial on the Competition Bureau’s fight with the Canadian Real Estate Association. It is timely to have a realistic and unemotional discussion of the pros and cons of this situation copied below or on their Website :
Home sales — can’t we get along?: Editorial, Wednesday, March 24, 2010
A fair deal for consumers in the residential real estate market starts with the realization not everyone needs the full services of a real estate agent to buy or sell a house.
That’s why Monday’s decision by the Canadian Real Estate Association to open up its super-popular Multiple Listing Service to homesellers for a few hundred dollars, rather than by having to employ the full services of a real estate agent, is welcome. Read the rest of this entry »
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My Thoughts on The Competition Bureau and The Canadian Real Estate Association
February 16th, 2010 categories: Listings, Real Estate, Selling in Toronto
Please notes that my thoughts are personal only and are not in any way those of Bosley Real Estate Ltd .(who hold my license) or The Toronto Real Estate Board (I am a Director-at-Large). I love my business, am engaged in it 7 days a week, 12 to 15 hours a day and would not want to do anything else however:
There is a lot of discussion going on led by the Competition Bureau and forces that want to “open up” the MLS and the Real Estate industry. Along with that discussion comes a lot of vitriol and misinformation about what it is that REALTORS do. We seem to have become the target for some who are not being totally clear about their agenda and who jump on sound bite after sound bite. If there is to be a discussion then it should be an honest one. Read the rest of this entry »
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The Competition Bureau and the Canadian Real Estate Association.
November 3rd, 2009 categories: Business, Economy, Real Estate, Toronto
A couple of weeks ago, the Government of Canada’s Competition Bureau sent a direction to the Canadian Real Estate Association that CREA remove one of the requirements of membership: Agency or Representation. The media has jumped on this as being very advantages for Sellers and Buyers in that it would allow the Consumer more options. Ken McLachlan, Broker for Re/Max Hallmark Realty Ltd. said it better than I ever could in this repost of his Blog:
Competition Bureau and CREA Read the rest of this entry »
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Canadian Real Estate: Lack of Inventory Puts Upward Pressure on Pricing.
October 16th, 2009 categories: Business, Buying in Toronto, Downtown Toronto, Real Estate, Selling in Toronto, Toronto
Here are some important statistics that were made available by the Canadian Real Estate Association that highlight housing inventory for sale in Canada, Ontario and within the Toronto Real Estate Board. These figures point to a distinct lack of inventory at present in all areas but especially in the Greater Toronto Area. It makes it a great time for Sellers to sell but conversely difficult for Buyers to find property. Hopefully this will loosen up over the next few months but in the meantime there will probably be upward pressure on pricing. I would suggest opening the slideshow to FULL for proper viewing.
Related Posts:
Canadian Real Estate Association Releases New Update
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Canadian Real Estate Association Releases New Update
October 16th, 2009 categories: Business, Downtown Toronto, Economy, Listings, Toronto
Here is the latest market report from the Canadian Real Estate Association. Take a look at the highlighted portion below as it points to a striking lack of inventory for Purchasers…but means it is a great time for Sellers to put their homes on the market. From my understanding, in a “Normal” market the inventory is about six months.
OTTAWA – October 15th, 2009 – National resale housing activity climbed to the highest level of any third quarter on record. Actual (not seasonally adjusted) home sales via the Multiple Listing Service® (MLS®) Systems of Canadian real estate boards totalled 135,182 units in the third quarter of 2009, according to statistics released by The Canadian Real Estate Association (CREA). This is the highest level of activity on record for the period from July to September. The number of transactions was up 18 per cent from the third quarter of last year, representing the biggest year-over-year increase since early 2002. Read the rest of this entry »
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The Canadian Real Estate Association Upgrades Its Forecast
August 28th, 2009 categories: Business, Real Estate, Toronto
MLS® home sales forecast revised
OTTAWA – August 27, 2009 – MLS® home sales were much stronger than expected in the second quarter of 2009, with activity having climb throughout the quarter and into July. The remarkable recovery of resale housing has prompted a change to the MLS® home sales forecast issued by The Canadian Real Estate Association for 2009 and 2010.
The speed and magnitude of the rebound in sales activity to date has lifted CREA’s national forecast for the number of transactions to 432,600 units. This represents an annual decline in activity of 0.4 per cent compared to levels set in 2008, and is a significant upward revision from the previously forecast decline of 14.7 per cent in CREA’s forecast issued last May. Read the rest of this entry »
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CREA Issues Strong Report For Canadian Real Estate.
July 14th, 2009 categories: Around TORONTO, Business, Real Estate, Toronto
Here is the most recent Press Release from the Canadian Real Estate Association. The Toronto Real Estate Board also published a strong release last week. You can read it also at Toronto Real Estate Board: June 2009, Best June on Record!!
OTTAWA – July 14th, 2009 – National resale housing market activity bounced back strongly in the second quarter of 2009 above levels reported for the same period last year. Demand continues to rebound sharply in some of the most expensive markets in the country, skewing the national average price upward.
According to statistics released by The Canadian Real Estate Association (CREA), actual (not seasonally adjusted) home sales, via the Multiple Listing Service® (MLS®) of Canadian real estate boards, totaled 147,351 units in the second quarter of 2009 – the fourth strongest quarterly sales figure ever. Up 1.4 per cent from the second quarter of 2008, this marks the first year-over-year increase in quarterly activity since the fourth quarter of 2007. Read the rest of this entry »
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REALTORS® Welcome Federal Housing Initiatives In Stimulating Canadian Economy: CREA Says
January 27th, 2009 categories: Real Estate
Here is the most recent press release from the Canadian Real Estate Association in reference to today’s budget. It looks to be some good news for the Housing sector and first time buyers…
The Canadian Real Estate Association (CREA) welcomes the federal government initiatives to stimulate economic growth outlined in the 2009 budget, especially those that will encourage home ownership in Canada. The Association applauds the government Read the rest of this entry »
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