Canadian Real Estate News Headlines (January 17th, 2019)

Hello everyone. How are you?

I provide you with Canada’s news headlines for real estate news for today. 

Canadian home sales fall further in December

Home sales via Canadian MLS® Systems fell by 2.5% in December 2018 compared to November, capping the weakest annual sales since 2012. Monthly declines in activity since September have fully retrenched its summer rally and returned it near the lowest level since early 2013.

The details can be found here. 

Toronto Rental Price Growth To Cut In Half As New Supply Hits In 2019

Toronto is expecting a lot more real estate supply, and that’s going to be a drag on rental price growth. Urbanation, a leading research firm for developers, is forecasting a big drop in the rate of growth for apartment rental rates in 2019. The firm expects the rise in new apartments to trim growth in half, compared to what we’ve seen in the past few years.

The details can be found here.

Canadian home prices fall for third month in a row, even in Vancouver

Canadian home prices fell in December for the third consecutive month, led by weakness in Edmonton and Vancouver, data showed on Monday.

The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices fell 0.3 per cent last month from November.

Prices fell in seven of the 11 markets surveyed, Teranet said. Edmonton prices fell 1.4 per cent, while prices in Vancouver were down 1.2 per cent. It was the fifth straight month without an index rise for the most populous metropolitan area in British Columbia.

The details can be found here.