{"id":8963,"date":"2018-04-30T10:10:34","date_gmt":"2018-04-30T17:10:34","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=8963"},"modified":"2018-04-28T10:08:01","modified_gmt":"2018-04-28T17:08:01","slug":"canadas-housing-market-remains-highly-vulnerable","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/04\/canadas-housing-market-remains-highly-vulnerable\/","title":{"rendered":"Canada\u2019s Housing Market Remains \u201cHighly Vulnerable\u201d"},"content":{"rendered":"<p style=\"text-align: justify;\">Canada\u2019s housing market continues to be at risk of instability for the seventh straight quarter, due to strong evidence of overvaluation and price acceleration in the country\u2019s largest metropolitan areas, the Greater Toronto Area (GTA) and Greater Vancouver.<\/p>\n<p style=\"text-align: justify;\">In the final quarter of 2017, the two markets, along with Victoria and Hamilton, remained \u201chighly vulnerable\u201d, according to the Canada Mortgage and Housing Corporation\u2019s (CMHC) latest Housing Market Assessment, published Thursday. With these markets in the danger zone, Canada\u2019s housing market continues to have a high degree of vulnerability to market imbalances.<\/p>\n<p style=\"text-align: justify;\">\u201cRegionally, there\u2019s a fair amount of variation, as we continue to see a high degree of vulnerability in major centres in Ontario and British Columbia while Prairie and Atlantic markets range from moderate to low,\u201d says Bob Dugan, CMHC chief economist, in a statement.<\/p>\n<p style=\"text-align: justify;\">The quarterly report acts as an \u201cearly warning system\u201d for Canada\u2019s housing markets and rates the degree of vulnerability in each market based on: overheating, price acceleration, overvaluation and overbuilding.<\/p>\n<p style=\"text-align: justify;\">At the national level, home prices remain elevated relative to values supported by fundamental factors, including income and population. In addition, moderate evidence of price acceleration continues to be detected in the overall market.<\/p>\n<p style=\"text-align: justify;\">Although Greater Vancouver, the GTA, Victoria and Hamilton maintained a high degree of vulnerability, each market scored different ratings when broken down by vulnerabilities.<\/p>\n<p style=\"text-align: justify;\">Greater Vancouver continued to experience high evidence of overvaluation, as fundamental supply and demand factors could not account for current price levels. For the eighth consecutive quarter, moderate evidence of price acceleration was detected, which was originally seen in the second quarter of 2016.<\/p>\n<p style=\"text-align: justify;\">\u201cTight market conditions for lower-priced properties continue to exert upward pressure on the prices of these homes, accentuating CMHC\u2019s detection of overvaluation in the Metro Vancouver housing market,\u201d says Eric Bond, CMHC principal, market analysis, in a statement.<\/p>\n<p style=\"text-align: justify;\">Despite both demand and new supply rebounding equally in the GTA in Q4 2017, the market continued its high degree of vulnerability.<\/p>\n<p style=\"text-align: justify;\">\u201cHome prices have softened, but still remain above rates justified by economic and demographic fundamentals such as income and population growth,\u201d says Dana Senagama, CMHC principal, market analysis (GTA), in a statement.<\/p>\n<p style=\"text-align: justify;\">Although, Canada\u2019s overall market continues to face a high degree of risk, low vulnerability was detected in other housing markets across the country, including Montreal, Ottawa, Winnipeg and Halifax. However, in Montreal, the growth rate in house prices has increased, suggesting price acceleration could rise to moderate vulnerability in the future.<\/p>\n<p><a href=\"http:\/\/news.buzzbuzzhome.com\/2018\/04\/canadas-market-highly-vulnerable-instability-toronto-vancouver.html\" target=\"_blank\" rel=\"noopener\">Canada\u2019s Housing Market Remains \u201cHighly Vulnerable\u201d Thanks to Instability in Toronto &amp; Vancouver<\/a> by Kerrisa Wilson | Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada\u2019s housing market continues to be at risk of instability for the seventh straight quarter, due to strong evidence of overvaluation and price acceleration in the country\u2019s largest metropolitan areas, &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/04\/canadas-housing-market-remains-highly-vulnerable\/\">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-8963","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canada\u2019s Housing Market Remains \u201cHighly Vulnerable\u201d &#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\/04\/canadas-housing-market-remains-highly-vulnerable\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canada\u2019s Housing Market Remains \u201cHighly Vulnerable\u201d &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Canada\u2019s housing market continues to be at risk of instability for the seventh straight quarter, due to strong evidence of overvaluation and price acceleration in the country\u2019s largest metropolitan areas, &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\\\/2018\\\/04\\\/canadas-housing-market-remains-highly-vulnerable\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/04\\\/canadas-housing-market-remains-highly-vulnerable\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Canada\u2019s Housing Market Remains \u201cHighly Vulnerable\u201d\",\"datePublished\":\"2018-04-30T17:10:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/04\\\/canadas-housing-market-remains-highly-vulnerable\\\/\"},\"wordCount\":442,\"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\\\/04\\\/canadas-housing-market-remains-highly-vulnerable\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/04\\\/canadas-housing-market-remains-highly-vulnerable\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/04\\\/canadas-housing-market-remains-highly-vulnerable\\\/\",\"name\":\"Canada\u2019s Housing Market Remains \u201cHighly Vulnerable\u201d &#8226; 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