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Jan 21, 2022 · 2021 in review: largest national increase since 1989. Nationally, new home prices were up 10.3% in 2021 compared with 2020 (+2.1%)—the largest annual increase since 1989. Prices for new homes grew at a faster pace from January to June 2021 (+7.1%) compared with the second half of the year (+3.1%).
- Homeownership rate declines from 2011 to 2021 in all provinces and territories, except in the Northwest Territories. Residents of Atlantic Canada have historically been the most likely to be homeowners, and this remained true in 2021.
- Number of renter households grows the most in Kelowna and the least in Saguenay. The growth in renter households outpaced the growth in homeowner households from 2011 to 2021 in each of Canada's 41 large urban centres (CMAs).
- More than half of the condominiums in downtown Toronto, Montréal and Vancouver are rented in 2021. More Canadians are choosing to live in the downtowns of large urban centres to partake in the social, economic and postsecondary education opportunities that exist there.
- Unaffordable housing rates are down across Canada in 2021, except in Alberta. The COVID-19-related government transfers lifted many households above the housing affordability thresholds, helping pay for shelter costs like rent, mortgages and utilities.
May 6, 2021 · The ratio of single-detached housing starts to total starts will increase through 2021, reflecting the shift in preference toward single-detached units on the resale market, as indicated by their current low inventories and strong price growth. Housing starts will stabilize at levels consistent with household formation by the end of 2023.
Feb 17, 2021 · Despite COVID-19's impact on the broader economy, the Canadian housing market remained resilient through 2020 as interest rates fell to historic lows. Using data derived from the National Economic Accounts Division and the Bank of Canada, this paper examines trends observed in the mortgage market leading up to and during the COVID-19 pandemic.
Jan 17, 2022 · 2021 was a record year for Canada’s housing market. That we already knew back in October when year-to-date home resales surpassed the annual all-time high set in 2020. We just learned by how much 2021 sales beat their 2020 mark. In the end, 667,000 transactions took place last year, up an astounding 21%, or 114,000 units.
Sep 28, 2021 · Ottawa, September 28, 2021. Home price acceleration, alongside continued overvaluation, as home prices further detach from fundamental factors, such as labour income, has created a high degree of vulnerability in Canada’s housing market. This according to the latest Housing Market Assessment released by Canada Mortgage and Housing Corporation ...
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Nov 1, 2021 · HOUSING MARKET OUTLOOK – SPRING 2021. 3 “ COVID-19 has had unprecedented impacts on Canada’s urban centres. While large parts of the economy have struggled to adapt to pandemic conditions, housing activity has recovered reflecting pent-up demand, adjustment of working practices by many to pandemic conditions, and lower mortgage rates.
