Post Category: News and Economic Reports
November 15, 2018
Home prices fall in October

Home prices are showing signs of weakness at the national level (left chart), but the
market is far from being homogeneous. For example, Vancouver showed no gain for a
third month in a row, for a cumulative loss of 1.2%. Moreover, the weakness extends to
condos as well as to more expensive dwellings. This is consistent with the fact that since
the beginning of the year, home sales declined markedly in both segments. For Toronto,
the picture is mixed, with condos prices still remaining on an upward trend. Montreal is
at the other end of the spectrum. The second largest metropolitan region in Canada
enjoyed the most vigourous home resale market over the last few months (right chart).
But with interest rates set to rise again in the coming months, we don’t see much upside
for home prices.

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November 2018

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