{"id":10460,"date":"2018-10-04T10:10:42","date_gmt":"2018-10-04T17:10:42","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10460"},"modified":"2018-09-25T11:00:09","modified_gmt":"2018-09-25T18:00:09","slug":"the-canadian-housing-market-could-slowly-moving-towards-the-red-hot-conditions","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-canadian-housing-market-could-slowly-moving-towards-the-red-hot-conditions\/","title":{"rendered":"The Canadian Housing Market Could Slowly Moving Towards the Red Hot Conditions"},"content":{"rendered":"<p style=\"text-align: justify;\">National home sales crept up 0.9% month-over-month in August, part of the Canadian housing market\u2019s current warming phase, which began earlier this summer.<\/p>\n<p style=\"text-align: justify;\">While the sales bump is a welcome change from the slumping activity that characterized the first quarter of the year, it\u2019s still nowhere near the record breaking numbers seen in the spring of 2017. But according to one economist, the market could return to its former heights.<\/p>\n<p style=\"text-align: justify;\">\u201cCanada\u2019s housing market has gone through a period of unusual weakness over the past year, driven by a mix of higher [interest] rates &#8230;.. and natural affordability barriers,\u201d writes RBC Global Asset Management chief economist Eric Lascelles, in his most recent MacroMemo.<\/p>\n<p style=\"text-align: justify;\">\u201cThe question has been whether this softness was the \u201cbig one\u201d \u2013 the beginning of the end of the country\u2019s decade-long housing boom, or instead a mere recalibration in response to less friendly housing parameters,\u201d Lascelles continues. \u201cSo far, the tentative evidence suggests the latter.\u201d<\/p>\n<p style=\"text-align: justify;\">He notes that home resales and prices have rebounded in recent months, though the rate of growth it still \u201cstarkly lower\u201d than it was in the spring of 2017.<\/p>\n<p style=\"text-align: justify;\">This could mean that the market will continue its upward trajectory, slowly moving towards the red hot conditions seen over the past few years.<\/p>\n<p style=\"text-align: justify;\">\u201c[The current upward trend] raises the possibility that housing will revert to its prior ascent rather than exert a persistent drag on growth,\u201d writes Lascelles.<\/p>\n<p style=\"text-align: justify;\">But it\u2019s by no means a sure-thing. In fact, Lascelles adds that while the market could heat up, there is a distinct possibility that it will remain relatively cool for the foreseeable future.<\/p>\n<p style=\"text-align: justify;\">\u201cTo be clear, this sunny picture is not our base-case scenario,\u201d he writes. \u201cWe continue to look for rather more sluggish growth &#8230;.. pockets of housing weakness, and a variety of other factors.\u201d<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/09\/economist-says-canadian-housing-market-return-2017-ascent.html\" target=\"_blank\" rel=\"noopener\">This Economist Says That The Canadian Housing Market Could Return to Its 2017 &#8220;Ascent&#8221;<\/a> by Sarah Niedoba | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>National home sales crept up 0.9% month-over-month in August, part of the Canadian housing market\u2019s current warming phase, which began earlier this summer. While the sales bump is a welcome &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/10\/the-canadian-housing-market-could-slowly-moving-towards-the-red-hot-conditions\/\">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-10460","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Canadian Housing Market Could Slowly Moving Towards the Red Hot Conditions &#8226; 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\/2018\/10\/the-canadian-housing-market-could-slowly-moving-towards-the-red-hot-conditions\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Canadian Housing Market Could Slowly Moving Towards the Red Hot Conditions &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"National home sales crept up 0.9% month-over-month in August, part of the Canadian housing market\u2019s current warming phase, which began earlier this summer. While the sales bump is a welcome &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-canadian-housing-market-could-slowly-moving-towards-the-red-hot-conditions\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-canadian-housing-market-could-slowly-moving-towards-the-red-hot-conditions\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"The Canadian Housing Market Could Slowly Moving Towards the Red Hot Conditions\",\"datePublished\":\"2018-10-04T17:10:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-canadian-housing-market-could-slowly-moving-towards-the-red-hot-conditions\\\/\"},\"wordCount\":329,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-canadian-housing-market-could-slowly-moving-towards-the-red-hot-conditions\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-canadian-housing-market-could-slowly-moving-towards-the-red-hot-conditions\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/10\\\/the-canadian-housing-market-could-slowly-moving-towards-the-red-hot-conditions\\\/\",\"name\":\"The Canadian Housing Market Could Slowly Moving Towards the Red Hot Conditions &#8226; 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