{"id":1038,"date":"2016-02-25T10:10:19","date_gmt":"2016-02-25T18:10:19","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=1038"},"modified":"2016-02-24T12:23:29","modified_gmt":"2016-02-24T20:23:29","slug":"markets-to-target-avoid-according-to-cmhcs-latest-housing-market-assessment","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/02\/markets-to-target-avoid-according-to-cmhcs-latest-housing-market-assessment\/","title":{"rendered":"Markets to Target & Avoid According to CMHC\u2019s Latest Housing Market Assessment"},"content":{"rendered":"

CMHC\u2019s second Housing Market Assessment takes a look at factors currently plaguing troubled housing markets.
\nUsing a number of calculations, the Crown Corporation\u2019s assessment aims to determine which markets are currently facing problems. The framework considers overheating demand for homes, price acceleration, price overvaluation, and overbuilding.
\n\u201cThe framework takes into account demographic, economic, and financial factors such as population growth, changes in personal disposable income, and interest rates,\u201d CMHC said in the report. \u201cThe framework also takes into account developments in both the resale market and the residential construction market.\u201d<\/p>\n

Potential hotspots : Markets showing weak evidence of problematic conditions<\/strong><\/em><\/p>\n

Vancouver<\/strong>
\n\u201cModerate evidence of overvaluation was observed in the third quarter, meaning house prices were higher than levels consistent with personal disposable income, population growth and other factors,\u201d CMHC said. \u201cSingle-detached homes have recorded particularly strong price growth due to demand from high net worth and repeat buyers.\u201d
\nDemand continues to be strong for both purchases and rentals in the country\u2019s hottest housing market.<\/p>\n

Hamilton<\/strong>
\n\u201cThe sales-to-new-listings ratio remained elevated in the third quarter of 2015 and continues to show moderate evidence of overheating,\u201d CMHC said. \u201cMeanwhile, Hamilton\u2019s employment continues its upward trajectory.\u201d
\nSpots investors may want to avoid: Markets showing strong evidence of problematic conditions<\/p>\n

Toronto<\/strong>
\n\u201cDeclining inventories of both new and resale single-detached homes contributed to rapid price growth,\u201d CMHC said. \u201cThe continued rise in house prices has not been matched by growth in personal disposable income and population giving rise to strong evidence of overvaluation.\u201d
\nThat, coupled with the fact that completed and unsold units remains above the historical average has led to troubling conditions in Toronto.
\nThe gap between prices for low and high rise units also resulted in a seller\u2019s market for condo units last year.<\/p>\n

Calgary<\/strong>
\n\u201cThere continues to be moderate evidence of overvaluation in Calgary as economic fundamentals have weakened,\u201d CMHC said. \u201cLow oil prices have weighed down activity in the energy sector, which has slowed employment and income growth in the province.\u201d
\nDecreases in migration have also contributed to housing issues in oil country.<\/p>\n

Markets to Target & Avoid According to CMHC\u2019s Latest Housing Market Assessment<\/a> by Justin da Rosa | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"

CMHC\u2019s second Housing Market Assessment takes a look at factors currently plaguing troubled housing markets. Using a number of calculations, the Crown Corporation\u2019s assessment aims to determine which markets are … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1038","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"\nMarkets to Target & Avoid According to CMHC\u2019s Latest Housing Market Assessment • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/02\/markets-to-target-avoid-according-to-cmhcs-latest-housing-market-assessment\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Markets to Target & Avoid According to CMHC\u2019s Latest Housing Market Assessment • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"CMHC\u2019s second Housing Market Assessment takes a look at factors currently plaguing troubled housing markets. 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