{"id":12676,"date":"2019-06-05T10:10:51","date_gmt":"2019-06-05T17:10:51","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12676"},"modified":"2019-05-22T10:01:21","modified_gmt":"2019-05-22T17:01:21","slug":"home-sales-show-canadians-have-largely-adapted-to-b-20","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/06\/home-sales-show-canadians-have-largely-adapted-to-b-20\/","title":{"rendered":"Home Sales Show Canadians Have Largely Adapted to B-20"},"content":{"rendered":"<p style=\"text-align: justify;\">Recent sales activity might indicate that the national market has already acclimated to the largest impacts of B-20, according to Bank of Montreal chief economist Doug Porter.<\/p>\n<p style=\"text-align: justify;\">\u201cCanadian housing activity appears to be broadly stabilizing, as there are signs that the market has largely digested the many policy changes,\u201d Porter wrote in a report, as quoted by The Canadian Press.<\/p>\n<p style=\"text-align: justify;\">\u201cAnd while the regional divide is wide, fundamentals look to be a bit more supportive in the year ahead, with the policy tightening likely having run its course, job growth surprisingly solid and borrowing costs ebbing.\u201d<\/p>\n<p style=\"text-align: justify;\">This is despite the policy regime\u2019s dampening effect, which was most visible in the country\u2019s most in-demand markets. Earlier this month, Toronto-Dominion economists estimated that B-20 led to around 40,000 fewer transactions nationwide (on a year-over-year basis) during Q4 2018.<\/p>\n<p style=\"text-align: justify;\">The BMO analysis came in the wake of the latest numbers from the Canadian Real Estate Association, which indicated that overall sales activity increased by 3.6% month-over-month in April.<\/p>\n<p style=\"text-align: justify;\">Canada\u2019s residential sales volume also enjoyed its first annual increase (at 4.2%) since December 2017. During the same time last year, activity declined to a seven-year low for the month.<\/p>\n<p style=\"text-align: justify;\">The CREA report added that Toronto and Montreal numbers compensated for somewhat lacklustre activity in B.C. last month.<\/p>\n<p style=\"text-align: justify;\">Supply also grew by 2.7% in April, following the 3.4% increase seen during the month before that. The national sales-to-new listings ratio was at 54.8%, from the 54.3% in March.<\/p>\n<p style=\"text-align: justify;\">As for sale prices, the nationwide average crawled up by 0.3% year-over-year to reach $494,978. Excluding Toronto and Vancouver, the figure was just slightly over $391,000.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/april-home-sales-show-canadians-have-largely-adapted-to-b20-257548.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">April Home Sales Show Canadians Have Largely Adapted to B-20<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recent sales activity might indicate that the national market has already acclimated to the largest impacts of B-20, according to Bank of Montreal chief economist Doug Porter. \u201cCanadian housing activity &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/06\/home-sales-show-canadians-have-largely-adapted-to-b-20\/\">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-12676","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>Home Sales Show Canadians Have Largely Adapted to B-20 &#8226; 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