Author: Carli

In Q4, affordability worsened for a 14th consecutive quarter as measured by the urban composite index. All but two markets experienced a deterioration stemming from a 20- basis points increase for residential mortgage rates, hitting harder the priciest markets in the country (see table on page 12 for more details). Financing costs were up for […]

Home prices weakened in the second half of 2018 in most of the metropolitan areas constituents of the Teranet-National Bank Composite HPI. The Calgary index did not rise for a sixth month in a row in December. It was a fifth month in a row for Vancouver, and a fourth one for Edmonton. Weakness became […]

The Composite 6, which was first launched in December 2008 was initially built to capture the aggregate performance of the Canadian housing market with the richest available data at that time. In 2011, we expanded the Composite 6 by five new cities and reviewed and refined the geographic territory of each city to better align […]

Home price weakness in some major metropolitan areas is evidenced by a second consecutive decline in the national Composite Index. In the most expensive markets, new mortgage qualification rules and the rise in interest rates have cooled demand significantly. For instance, in Vancouver, November was a fourth month in a row without a rise in […]

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 […]

In Q3, affordability worsened in no less than 9 out of ten urban markets which explains the 13th consecutive deterioration of our urban composite index. Expensive housing markets such as Vancouver and Toronto slowed down markedly in 2018 and home prices even declined in Q3 due to the combined effect of rising mortgage rates (up […]