{"id":12421,"date":"2019-05-07T07:55:08","date_gmt":"2019-05-07T14:55:08","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12421"},"modified":"2019-05-06T16:07:25","modified_gmt":"2019-05-06T23:07:25","slug":"housing-market-shows-resilience-as-new-builds-sales-rise","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/","title":{"rendered":"Housing Market Shows Resilience As New Builds &#038; Sales Rise"},"content":{"rendered":"<p style=\"text-align: justify;\">The country\u2019s real estate market showed some signs of recovery in March; although home prices were still down, home sales and new home builds went up.<\/p>\n<p style=\"text-align: justify;\"><strong>Housing Starts<\/strong><\/p>\n<p style=\"text-align: justify;\">The annual pace of housing starts \u2013 new home construction projects \u2013 recovered in March from a sluggish performance in February, highlighting the resilience of the country\u2019s housing market.<\/p>\n<p style=\"text-align: justify;\">The seasonally adjusted annual rate (SAAR) of housing starts was 192,527 units last month, up by 15.8% from 166,290 units month over month.<\/p>\n<p style=\"text-align: justify;\">The SAAR of urban starts increased by 17% to 178,033 units. Multiple urban starts rose by 18.6% to 135,894 units, while single-detached urban starts increased by 12.1% to 42,139 units. Meanwhile, rural starts were estimated at a SAAR of 14,494 units, according to Canada Mortgage and Housing Corporation (CMHC).<\/p>\n<p style=\"text-align: justify;\">The six-month moving average of housing starts remains near historical levels, said Bob Dugan, CMHC\u2019s chief economist.<\/p>\n<p style=\"text-align: justify;\"><strong>Home Prices<\/strong><\/p>\n<p style=\"text-align: justify;\">Home prices declined for the sixth straight month \u2013 the first March drop outside a recession.<\/p>\n<p style=\"text-align: justify;\">The Teranet-National Bank House Price Index showed prices fell by 0.31% last month from February and were down by 1.74% from the peak reached in September 2018.<\/p>\n<p style=\"text-align: justify;\">Compared to last year, prices remain 1.53% higher. However, the year-over-year (YOY) increase showed that the annual pace of growth is continually slowing.<\/p>\n<p style=\"text-align: justify;\">Let\u2019s look at the figures in the country\u2019s largest housing markets:<\/p>\n<p style=\"text-align: justify;\">Toronto prices sank by 0.29% month over month (MOM) and were down by 4.32% from the July 2017 peak. Prices were up by 3.26% from last year, but the annual pace of growth has slowed for the past three consecutive months.<\/p>\n<p style=\"text-align: justify;\">Vancouver was a little worse than Toronto. Vancouver prices dropped by 0.46% MOM and were down by 4.31% from the July 2018 peak. Prices were also down by 2.1% from last year, the biggest annual decline since June 2013.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, Montreal reached a new all-time high. Montreal prices rose by 0.12% MOM and were now up by 5.46% from last year. The annual pace of growth is far outperforming the national index, but the city\u2019s prices have underperformed the market by 20% since 2005, according to Better Dwelling.<\/p>\n<p style=\"text-align: justify;\"><strong>Home Sales<\/strong><\/p>\n<p style=\"text-align: justify;\">National home sales edged up by 0.9% after a sharp drop in February, according to the Canadian Real Estate Association (CREA). However, year-over-year sales activity fell by 4.6% to the weakest level for March since 2013. It was also almost 12% below the 10-year average for the month.<\/p>\n<p style=\"text-align: justify;\">In British Columbia, Alberta and Saskatchewan, sales were more than 20% below their 10-year average. In Quebec and New Brunswick, sales activity ran well above average. In the Greater Toronto Area, sales were flat at 7,187 \u2013 down by only one home YOY.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, the number of newly listed homes rose by 2.1%. New supply increased in about two-thirds of all local markets, led by Winnipeg, Regina, Victoria and elsewhere on Vancouver Island. In contrast, new listings decreased in the Greater Toronto Area (by 5.1% YOY), Ottawa and Halifax-Dartmouth.<\/p>\n<p style=\"text-align: justify;\">With new listings improving more than sales, the national sales-to-new-listings ratio eased to 54.2% from 54.9% in February. This market balance measure has largely remained close to its long-term average of 53.5% since early 2018.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.zoocasa.com\/blog\/march-housing-market-shows-resilience-as-new-builds-and-sales-rise\/\" target=\"_blank\" rel=\"noopener noreferrer\">March Housing Market Shows Resilience As New Builds and Sales Rise<\/a> by Which Mortgage | zoocasa<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The country\u2019s real estate market showed some signs of recovery in March; although home prices were still down, home sales and new home builds went up. Housing Starts The annual &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/\">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-12421","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>Housing Market Shows Resilience As New Builds &amp; Sales Rise &#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\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Housing Market Shows Resilience As New Builds &amp; Sales Rise &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The country\u2019s real estate market showed some signs of recovery in March; although home prices were still down, home sales and new home builds went up. Housing Starts The annual &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\\\/2019\\\/05\\\/housing-market-shows-resilience-as-new-builds-sales-rise\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/housing-market-shows-resilience-as-new-builds-sales-rise\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Housing Market Shows Resilience As New Builds &#038; Sales Rise\",\"datePublished\":\"2019-05-07T14:55:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/housing-market-shows-resilience-as-new-builds-sales-rise\\\/\"},\"wordCount\":515,\"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\\\/2019\\\/05\\\/housing-market-shows-resilience-as-new-builds-sales-rise\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/housing-market-shows-resilience-as-new-builds-sales-rise\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/housing-market-shows-resilience-as-new-builds-sales-rise\\\/\",\"name\":\"Housing Market Shows Resilience As New Builds & Sales Rise &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2019-05-07T14:55:08+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/housing-market-shows-resilience-as-new-builds-sales-rise\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/housing-market-shows-resilience-as-new-builds-sales-rise\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/housing-market-shows-resilience-as-new-builds-sales-rise\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Housing Market Shows Resilience As New Builds &#038; Sales Rise\"}]},{\"@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":"Housing Market Shows Resilience As New Builds & Sales Rise &#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\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/","twitter_card":"summary_large_image","twitter_title":"Housing Market Shows Resilience As New Builds & Sales Rise &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"The country\u2019s real estate market showed some signs of recovery in March; although home prices were still down, home sales and new home builds went up. Housing Starts The annual &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\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Housing Market Shows Resilience As New Builds &#038; Sales Rise","datePublished":"2019-05-07T14:55:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/"},"wordCount":515,"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\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/","url":"https:\/\/www.roryc.ca\/blog\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/","name":"Housing Market Shows Resilience As New Builds & Sales Rise &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2019-05-07T14:55:08+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/housing-market-shows-resilience-as-new-builds-sales-rise\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Housing Market Shows Resilience As New Builds &#038; Sales Rise"}]},{"@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\/12421","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=12421"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12421\/revisions"}],"predecessor-version":[{"id":12422,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12421\/revisions\/12422"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=12421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=12421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=12421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}