Market Updates

APRIL 2023 MARKET UPDATE

Posted on Apr 03, 2023 in Market Updates



Sales and new listings have improved over the levels reported at the beginning of the year. As a result, the spread between sales and new listings supported some expected monthly inventory level gains. However, the 3,233 available units reflected the lowest March inventory levels since 2006 and left the months of supply just above one month, firmly...

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MARCH 2023 MARKET UPDATE

Posted on Mar 01, 2023 in Market Updates



Consistent with typical seasonal behaviour sales, new listings, and inventory levels all trended up compared to last month. However, with 1,740 sales and 2,389 new listings, inventory levels improved only slightly over the last month and remained amongst the lowest February levels seen since 2006.

“While higher lending rates are impacting sales acti...

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FEBRUARY 2023 MARKET UPDATE

Posted on Feb 01, 2023 in Market Updates



The level of new listings in January fell to the lowest levels seen since the late 90s. While new listings fell in nearly every price range, the pace of decline was higher for lower-priced properties. 

At the same time, sales activity did slow compared to the high levels reported last year but remained consistent with long-term trends. However, there...

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CREB: 2022 MARKET SUMMARY & 2023 FORECAST

Posted on Jan 24, 2023 in Market Updates



Elevated lending rates are expected to weigh on sales in 2023, bringing levels down from the record high in 2022. However, with forecasted sales of 25,921 in 2023, levels are still expected to be higher than the activity reported before the pandemic. Recent growth in migration and employment is expected to help offset the impact of higher lending r...

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CREB: 2022 ECONOMIC REVIEW & 2023 FORECAST

Posted on Jan 24, 2023 in Market Updates



The aftermath of the pandemic, along with geopolitical issues impacting global energy markets, has left many countries facing challenges with inflation and rising interest rates. The persistent inflation in 2022 has triggered significant rate hikes from the bank of Canada this year, moving from 0.25 percent at the start of the year to 4.25 percent...

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JANUARY 2023 MARKET UPDATE

Posted on Jan 03, 2023 in Market Updates



2022 saw record-high sales and double-digit price growth - December sales eased, however, slowing sales over the second half of 2022 were not enough to offset earlier gains as sales reached a record high of 29,672 units in 2022.

Over the past several months, the pullback in sales was also met with a significant pullback in new listings, causing furt...

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