Housing market the focus of this week’s Canadian economic release

January 7, 2008 · Filed Under Market Trends · Comment 


Canada’s economic data release schedule kicks into high gear starting on Wednesday of this week with housing starts for December followed by the new house price index and building permits for November on Thursday  Forecast is that housing starts were lower in December as single-house starts likely unwound November’s 13.1% surge.

The new housing price index (NHPI) likely crept higher in November in line with an increase in the sales-to-new-listings ratio, an indicator of the supply and demand balance in the housing market. Building permits were likely down 2% in November with residential permits likely relatively flat, mirroring the behavior of housing starts, and non-residential permits likely to partially unwind October’s 19.1% surge.

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Canadian building permits jumped in October

December 6, 2007 · Filed Under Market Trends and Monthly MLS Stats · Comment 

RBC just released that Canadian building permits rose 6.8% in October, a much bigger increase than the consensus forecast for 0.7% rise and even faster than RBC’s estimate of a 3.5% gain. September’s level was revised higher and showed a 1.1% decline rather than the 1.7% dip in the preliminary report. The October increase put the level of permits closer to the record high levels recorded in May and June. Residential permits inched up 0.1% in October with higher permits for multi-units (+21.8%) largely offset by weaker demand for single-unit permits, which fell by 10.6%. Nonresidential permits rallied back, rising 19.3% after falling to a five-month low in September.

Dawn Desjardins, Senior Economist

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Choosing your new home

November 23, 2007 · Filed Under First Time Buyers and New Home Construction · Comment 

A common question we are asked is, how to make a choice between an older home in an established neighbourhood or a newer home in a new sub division?
This is a personal choice and your decision can change with each stage in your life.

A newer home will be relatively maintenance free for 5 - 7 years but you will have to wait 6 - 8 months (approx) for the property to be completed. One of the best features of building is you have the freedom and flexibility to choose all the items in your home (floors, cabinets, bathroom, paint and layout). Some people get overwhelmed at this stage but the end result will be a home YOU want.

An older home has the benefit of being in a mature neighbourhood with mature trees. The neighbourhood and its surroundings have been built allowing you to get a feel for the area. Depending on the age of the house it may still have all or most of its original character. On the flip side, older homes have higher maintenance. There is always something to repair or replace.

Which neighbourhood AND home would you and your family feel most comfortable in?

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