{"id":1624,"date":"2016-04-15T11:11:58","date_gmt":"2016-04-15T18:11:58","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=1624"},"modified":"2016-04-15T09:32:54","modified_gmt":"2016-04-15T16:32:54","slug":"canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/","title":{"rendered":"Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips"},"content":{"rendered":"<p style=\"text-align: justify;\">More homes changed hands in Canada last month than in any other March on record even as activity inched down in Greater Vancouver and the Greater Toronto Area, according to the Canadian Real Estate Association (CREA).<\/p>\n<p style=\"text-align: justify;\">Across the country, home sales registered through MLS systems increased in March by 1.5% from activity in February, with 60% of local markets recording gains.<\/p>\n<p style=\"text-align: justify;\">Transactions fell 1.8% month-over-month in the GTA and slipped 0.3% from February in Vancouver, although \u201cboth remain near record highs reached the month before,\u201d CREA stated this morning.<\/p>\n<p style=\"text-align: justify;\">Cliff Iverson, CREA\u2019s president, highlighted how low supply is putting downward pressure on activity in Canada\u2019s hottest markets.<\/p>\n<p style=\"text-align: justify;\">\u201cGreater Vancouver and the GTA are heading into the spring homebuying season with soaring demand and a shortage of listings,\u201d said Iverson in a statement.<\/p>\n<p style=\"text-align: justify;\">\u201cMeanwhile, other major urban markets in Canada are well balanced or are amply supplied,\u201d he added.<\/p>\n<p style=\"text-align: justify;\">Canadian home sales soared 12.2% from March 2015, on a not-seasonally-adjusted basis. This set a new record and casts a long shadow over the month\u2019s 10-year average of 14.2%.<\/p>\n<p style=\"text-align: justify;\">A dearth of listings in a number of markets \u2014 the GTA and nearby Hamilton-Burlington lead the country in this regard \u2014 tipped the scales in favour of sellers in March.<\/p>\n<p style=\"text-align: justify;\">The national sales-to-new-listings ratio hit 61.7%, its highest level since October 2009. CREA said listings between 40 and 60 percent signal a balanced market, with anything above that range suggesting a seller\u2019s market.<\/p>\n<p style=\"text-align: justify;\">Last month, the benchmark price of a Canadian home was $528,200, up 9.1% from March 2015.<\/p>\n<p style=\"text-align: justify;\">Calgary and Saskatoon were the only two markets to see prices lower than they were a year ago. Calgary\u2019s prices dropped 3.69% to $438,700 and Saskatoon\u2019s fell 2.71% coming to rest at $302,300.<\/p>\n<p style=\"text-align: justify;\">Greater Vancouver led all major markets with a benchmark price of $815,000, towering 23.2% over year-ago numbers.<\/p>\n<p style=\"text-align: justify;\">The Lower Mainland\u2019s benchmark followed at $719,500, having soared 22.8% in the past 12 months.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, the Greater Toronto Area\u2019s benchmark price of $599,400 positioned it as the third most expensive market after an 11.6% increase over the year ending in March.<\/p>\n<p style=\"text-align: justify;\">In a research note published this morning, Robert Kavcic, BMO\u2019s senior economist, said there\u2019s a good chance Toronto and Vancouver price appreciation will continue to rise with the mercury.<\/p>\n<p style=\"text-align: justify;\">\u201cWith supply in the two hot markets extremely tight, prices are likely to push even higher through the always-important spring selling season,\u201d he wrote. \u201cThe question is, will policymakers in BC and Ontario do anything to quell the fires?\u201d<\/p>\n<p style=\"text-align: justify;\">Without British Columbia and Ontario, the average Canadian home price in March was $299,591, down 1% compared to the same time the year before.<\/p>\n<p style=\"text-align: justify;\">\u201cIt\u2019s the same ol\u2019 situation in Canada\u2019s housing market, with extreme strength in Toronto and Vancouver, corrections playing out in the oil-exposed markets, while most others fall somewhere in between,\u201d said Kavcic reacting to the CREA release.<\/p>\n<p><a href=\"http:\/\/news.buzzbuzzhome.com\/2016\/04\/canadian-home-sales-march-2016-record.html\" target=\"_blank\">Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips<\/a> by Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"<p>More homes changed hands in Canada last month than in any other March on record even as activity inched down in Greater Vancouver and the Greater Toronto Area, according to &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/\">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-1624","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>Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips &#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\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"More homes changed hands in Canada last month than in any other March on record even as activity inched down in Greater Vancouver and the Greater Toronto Area, according to &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\\\/2016\\\/04\\\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/04\\\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips\",\"datePublished\":\"2016-04-15T18:11:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/04\\\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\\\/\"},\"wordCount\":491,\"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\\\/2016\\\/04\\\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/04\\\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/04\\\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\\\/\",\"name\":\"Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2016-04-15T18:11:58+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/04\\\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/04\\\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/04\\\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips\"}]},{\"@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":"Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips &#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\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/","twitter_card":"summary_large_image","twitter_title":"Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"More homes changed hands in Canada last month than in any other March on record even as activity inched down in Greater Vancouver and the Greater Toronto Area, according to &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips","datePublished":"2016-04-15T18:11:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/"},"wordCount":491,"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\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/","url":"https:\/\/www.roryc.ca\/blog\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/","name":"Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2016-04-15T18:11:58+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2016\/04\/canadian-home-sales-in-march-2016-set-new-record-while-toronto-vancouver-activity-dips\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Canadian Home Sales in March 2016 Set New Record While Toronto, Vancouver Activity Dips"}]},{"@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\/1624","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=1624"}],"version-history":[{"count":2,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/1624\/revisions"}],"predecessor-version":[{"id":1626,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/1624\/revisions\/1626"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=1624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=1624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=1624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}