{"id":13914,"date":"2019-10-16T10:10:03","date_gmt":"2019-10-16T17:10:03","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=13914"},"modified":"2019-10-16T10:20:29","modified_gmt":"2019-10-16T17:20:29","slug":"canadas-home-sales-remain-stronger-compared-to-2018s-early-months-of-2019","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/10\/canadas-home-sales-remain-stronger-compared-to-2018s-early-months-of-2019\/","title":{"rendered":"Canada’s Home Sales Remain Stronger Compared to 2018’s & Early Months of 2019"},"content":{"rendered":"

Despite signs of housing starts losing steam, Canada\u2019s home sales remain stronger compared to last year and the early months of 2019.<\/p>\n

\u201cThis continues to reflect strong demographic demand, both from international inflows and new households created within Canada,\u201d Bank of Montreal senior economist Robert Kavcic told The Canadian Press.<\/p>\n

\u201cThere\u2019s a lot of homebuilding activity going on across the vast majority of Canada.\u201d<\/p>\n

The number of transactions is expected to continue growing, amid significant boosts from lower rates and a growing consumer population.<\/p>\n

The Canadian Real Estate Association recently adjusted its 2019 resale forecast up to 482,000 units, around 5% higher from 2018.<\/p>\n

\u201cCanada\u2019s housing sector is back on the front foot with resales picking up as the year progresses and homebuilding activity clearly displaying some momentum,\u201d RBC senior economist Josh Nye stated.<\/p>\n

\u201cOntario, the Prairies and Atlantic Canada are on the rebound while the trend in BC and Quebec remains strong despite slower starts in the last month or two.\u201d<\/p>\n

The pace of Canadian housing starts in September was markedly lower on a month-over-month basis, according to data from the Canada Mortgage and Housing Corp.<\/p>\n

The seasonally adjusted annual rate of new home construction stood at 221,202 units in September, decelerating by 2.5% from August\u2019s 226,871 reading.<\/p>\n

Experts have earlier predicted an annual pace of 214,500 for the month, according to financial markets data firm Refinitiv.<\/p>\n

Urban starts also declined by 2.4% to 208,503 units, although apartments, condos, and other multi-unit developments ticked down by just 0.2% to 159,742. Meanwhile, single-detached starts in urban markets fell by 9.2% to 48,761 units.<\/p>\n

This Year’s Sales Continue to Outstrip 2018’s, Amid Weaker Starts<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite signs of housing starts losing steam, Canada\u2019s home sales remain stronger compared to last year and the early months of 2019. \u201cThis continues to reflect strong demographic demand, both … [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":[13],"tags":[],"class_list":["post-13914","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"\nCanada's Home Sales Remain Stronger Compared to 2018's & Early Months of 2019 • 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\/10\/canadas-home-sales-remain-stronger-compared-to-2018s-early-months-of-2019\/\" \/>\n<meta name=\"twitter:card\" 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