Home prices hit a record high again in May, amid a worsening supply shortage in the housing market. The sharp jump in mortgage interest rates in last year caused an overheated housing market to slow down, but the slump did not last long. The cost for a home, which has been rising since the start…
Home Prices Hit Record High As Housing Supply Shortage Worsens
July 14, 2023
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Housing Supply Not Keeping Up With Immigration, Rents Soar
May 3, 2023
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News Analysis Housing supply is not keeping up with a rapidly growing population and the problem is worsening in 2023, with a downturn in home building underway due largely to higher interest rates. The government’s higher immigration targets and record-breaking year for processing immigration applications are putting greater strains primarily on the rental market. Canada’s…
Ontario Budget Shows Lower Projections for New Home Construction
Projections in Ontario’s budget for housing starts show the province’s target to build 1.5 million homes in 10 years slipping further out of reach with each passing year. Nearly 100,000 homes were built in the province in 2022, the first year counting toward the goal, but the forecast shows the number of housing starts in…
Apartment Rents Fall Nationwide Amid New Supply Boost
U.S. apartment rents are falling nationwide amid a new boost in housing unit supplies this year. Apartment rents have declined in every major metropolitan area throughout the United States over the past six months, through January. The new trend is expected to last into 2024, as more units come online, reported The Wall Street Journal….
Mortgage Rates Decline to Lowest Level in Four Months, 2023 Recession ‘Still an Issue’
January 20, 2023
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Business & Marketseconomic recessioneconomyfalling home salesFed Rate Hikehigh inflationhousing supplymortgage ratesreal estateUSUS Real Estate
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U.S. mortgage rates for 30-year fixed-rate loans have fallen to their lowest in four months amid a slowdown in the pace of interest rate hikes by the Federal Reserve and a decrease in home sales last year, with some experts predicting the easing down of mortgage rates to be the trend for 2023. The average…
US Home Prices in July Decline for First Time in Three Years
August 24, 2022
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U.S. home prices fell 0.77 percent from June to July, for the first monthly decline in nearly three years, according to preliminary July home sales data from Black Knight, a mortgage analytics firm. The apparently mild drop in prices is the largest single-month decline in prices since January 2011. It also was the second-worst performance for…
Housing Supply Squeeze Finally Begins to Ease
By Jeff Ostrowski From Bankrate.com During the record-breaking housing boom of the past two years, a drastic under-supply of homes for sale has bedeviled buyers and delighted sellers. Now, the squeeze is slowly easing—a shift that could mark the start of a much-anticipated cooling of the white-hot housing market. The abnormal conditions of the past…
Housing Supply Sees Slight Improvement in April as Higher Prices and Mortgage Rates Slow Sales
The supply of homes for sale in the United States began to show signs of improvement in April 2022 according to new data from Realtor.com, which stated that the number of salable homes would increase in the next few weeks due to fewer buyers. April housing inventory was 12 percent lower than in the same…
Canadians Increasingly Putting Plans to Buy Home on Hold: Scotiabank
Canadians are increasingly putting their plans to buy a home on hold over economic uncertainty, a poll from Scotiabank says. “It’s no surprise that a perfect storm made up of the rising cost of living, housing supply shortages, and increased demand has caused Canadians to feel like homeownership is out of reach,” said John Webster,…
Canadians Increasingly Putting Plans to Buy Home on Hold: Poll
Canadians are increasingly putting their plans to buy a home on hold over economic uncertainty, a poll from Scotiabank says. “It’s no surprise that a perfect storm made up of the rising cost of living, housing supply shortages, and increased demand has caused Canadians to feel like homeownership is out of reach,” said John Webster,…
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