Author: Carli

OPINION: After a difficult H2 2017, the Composite Index has stabilized in recent months (top chart). Moderate rises will likely continue to characterize the Composite index over the coming months, as conditions in the two major constituent home resale markets, Toronto and Vancouver, are now balanced (current active-listings–to-sales ratios close to their long-term average). Let’s […]

OPINION: Without Vancouver, the Composite Index would have declined in March and in 5 of the 6 preceding months (top chart). Speaking of Vancouver, inferring from Real Estate Board of Greater Vancouver data, seasonally adjusted home sales have declined markedly over the last two months and the listings-to-sales ratio, while still in the sellers’ market […]

OPINION: The Composite Index relapsed in February, having lost ground in four of the last six months, for a cumulative drop of 1.9%. Moreover, over that period, indices declined in seven metropolitan regions out of 10. Excluding Vancouver, the Composite Index would have declined or stayed put in each of the last six months. Speaking […]

OPINION: Just like it did the prior month, Vancouver drove the Composite index in January – without Vancouver, the Composite index would have retreated for a fifth month in a row (top chart). On a y/y basis, Vancouver’s index for condos surged 23.0%, while the index for other types of dwellings rose 13.5%. The fact […]

OPINION: Without Vancouver, the Composite index would have declined for a fourth month in a row (top chart). The strength of Vancouver’s index is consistent with continued tight home resale market conditions. Toronto’s index declined for a fifth consecutive month, but the unsmoothed index (see note on methodology on next page) rose for a second […]