{"id":11110,"date":"2018-12-18T10:10:02","date_gmt":"2018-12-18T18:10:02","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11110"},"modified":"2018-12-11T19:55:30","modified_gmt":"2018-12-12T03:55:30","slug":"2018-q4-is-shaping-up-for-the-canadian-housing-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/","title":{"rendered":"2018 Q4 is Shaping Up for the Canadian Housing Market"},"content":{"rendered":"<p style=\"text-align: justify;\">With just a few weeks remaining in the final quarter of 2018, it\u2019s time to consider how the Canadian housing market is faring as we speed towards 2019.<\/p>\n<p style=\"text-align: justify;\">After a warmer period in the summer and early fall, the market seems to be entering a cooler patch, as higher interest rates weigh on some of the country\u2019s hottest markets.<\/p>\n<p style=\"text-align: justify;\">For a closer look at what the final three months of the year will look like for the Canadian housing market, Livabl has rounded up the latest expert commentary, to keep you in the know.<\/p>\n<p style=\"text-align: justify;\"><strong>National price growth is slipping<\/strong><\/p>\n<p style=\"text-align: justify;\">Canada continued its downward slide in global price rankings last quarter, falling to number 44 on property consultancy Knight Frank\u2019s 57-city price index.<\/p>\n<p style=\"text-align: justify;\">The report cited the the introduction of foreign-buyer taxes in BC and Ontario, stricter mortgage qualification rules and rising interest rates as factors in the country\u2019s falling status.<\/p>\n<p style=\"text-align: justify;\">\u201cOf those countries where a rate rise has taken place in 2018, a number have a significant gap between their strongest and weakest performing city,\u201d reads a Knight Frank release from last quarter.<\/p>\n<p style=\"text-align: justify;\">Of course, the cooling activity numbers are music to the ears of policy makers, who were hoping that a new mortgage stress test and foreign-buyer taxes would help to balance the formerly red hot Toronto and Vancouver markets.<\/p>\n<p style=\"text-align: justify;\"><strong>The Toronto market is cooling<\/strong><\/p>\n<p style=\"text-align: justify;\">November brought another month of falling home sales to the Toronto housing market. Sales were down 14.7 percent year-over-year, while dipping 3.4 percent month-over-month.<br \/>\nBut, as sales flag, listings are also down, creating a slight upward pressure on home prices. The average selling price of a Toronto region home was up 3.5 percent year-over-year to $788,345, while condo prices jumped 7.5 percent.<\/p>\n<p style=\"text-align: justify;\">\u201cHome types with lower average price points have been associated with stronger rates of price growth over the past few months,\u201d writes Jason Mercer, the Toronto Real Estate Board director of market analysis, in a statement.<\/p>\n<p style=\"text-align: justify;\">Mercer believes the strength of the Toronto condo market lies in the city\u2019s deteriorating affordability \u2014 more and more buyers are considering the less pricey housing type, after being pushed out of the expensive low-rise market.<\/p>\n<p style=\"text-align: justify;\"><strong>Household debt levels might mean a delay in interest rate hikes<\/strong><\/p>\n<p style=\"text-align: justify;\">Steadily rising interest rates have been on the Bank of Canada\u2019s agenda for months, but high household debt levels might cause the Bank to reconsider its next hike, according to Stephen Brown, senior Canada economist at Capital Economics.<\/p>\n<p style=\"text-align: justify;\">\u201cHouseholds are even more vulnerable to higher interest rate(s) than we had previously thought,\u201d writes Brown, in his most recent note. \u201cIn that environment, the Bank of Canada\u2019s plan to raise interest rates repeatedly could be a serious policy mistake.\u201d<\/p>\n<p style=\"text-align: justify;\">Brown is referring to data released by Statistics Canada, which found that Canadians\u2019 savings rate dropped to just 1.4 percent of their incomes in 2018, the lowest level in over 10 years.<\/p>\n<p style=\"text-align: justify;\">The low number \u2014 which suggests that Canadian households could be in a vulnerable position when it comes to their debt loads \u2014 may mean the BoC holds off on its next rate hike.<\/p>\n<p style=\"text-align: justify;\">\u201cThe Bank will ultimately be forced to reverse course next year, [and reduce rates],\u201d he concludes.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2018\/12\/heres-final-quarter-2018-shaping-canadian-housing-market.html\">Here&#8217;s How The Final Quarter of 2018 is Shaping Up for the Canadian Housing Market<\/a> by Sarah Niedoba | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With just a few weeks remaining in the final quarter of 2018, it\u2019s time to consider how the Canadian housing market is faring as we speed towards 2019. After a &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/\">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-11110","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>2018 Q4 is Shaping Up for the Canadian Housing Market &#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\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"2018 Q4 is Shaping Up for the Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"With just a few weeks remaining in the final quarter of 2018, it\u2019s time to consider how the Canadian housing market is faring as we speed towards 2019. After a &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=\"3 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\\\/12\\\/2018-q4-is-shaping-up-for-the-canadian-housing-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/12\\\/2018-q4-is-shaping-up-for-the-canadian-housing-market\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"2018 Q4 is Shaping Up for the Canadian Housing Market\",\"datePublished\":\"2018-12-18T18:10:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/12\\\/2018-q4-is-shaping-up-for-the-canadian-housing-market\\\/\"},\"wordCount\":552,\"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\\\/12\\\/2018-q4-is-shaping-up-for-the-canadian-housing-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/12\\\/2018-q4-is-shaping-up-for-the-canadian-housing-market\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/12\\\/2018-q4-is-shaping-up-for-the-canadian-housing-market\\\/\",\"name\":\"2018 Q4 is Shaping Up for the Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2018-12-18T18:10:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/12\\\/2018-q4-is-shaping-up-for-the-canadian-housing-market\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/12\\\/2018-q4-is-shaping-up-for-the-canadian-housing-market\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/12\\\/2018-q4-is-shaping-up-for-the-canadian-housing-market\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"2018 Q4 is Shaping Up for the Canadian Housing Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"2018 Q4 is Shaping Up for the Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/","twitter_card":"summary_large_image","twitter_title":"2018 Q4 is Shaping Up for the Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"With just a few weeks remaining in the final quarter of 2018, it\u2019s time to consider how the Canadian housing market is faring as we speed towards 2019. After a &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"2018 Q4 is Shaping Up for the Canadian Housing Market","datePublished":"2018-12-18T18:10:02+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/"},"wordCount":552,"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\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/","url":"https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/","name":"2018 Q4 is Shaping Up for the Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2018-12-18T18:10:02+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2018\/12\/2018-q4-is-shaping-up-for-the-canadian-housing-market\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"2018 Q4 is Shaping Up for the Canadian Housing Market"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/11110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=11110"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/11110\/revisions"}],"predecessor-version":[{"id":11111,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/11110\/revisions\/11111"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=11110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=11110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=11110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}