Canadian Real Estate Sales on the Rise Again

After a six month trend of decline, Canada’s real estate market has picked up again in September, with sales rising 0.9% from the month of August. The Canadian Real Estate Association (CREA) said the sales were still down by 17.5% from September of 2020 when sales soared to record highs.

Although sales declined year on year, 2021 was still the second highest September after 2020. The real estate market has seen a monthly growth for the first time since March.

The prices have increased by 1.7% on a monthly basis and 21.5% annually. Halifax has recorded a 27.5% annual increase yearly among major metropolitan areas, followed by Toronto (18.3%) and Montreal (15.5%). Ontario’s smaller towns have seen even bigger price gains.

CREA says the price increases are primarily the result of the real estate supply.

Five year fixed mortgage rates could lower the prices in the coming months.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now


Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today


Get your daily Business Brief

Subscribe free to Business Brief

Business Brief delivers the latest insights straight to your inbox

You'll get daily industry insights on

Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

War in Ukraine to Impact China’s Historic Export Volume

After China’s trade surplus surged to a historic high during the pandemic as people consumed more goods than before, the trend is unlikely to continue after the war in Ukraine. The trade surplus could decrease to $238 billion this year, after 2021’s historic $676 billion.

German Industry in Risk of Even Lower Levels of Gas Supply

The future of Germany’s small and medium sized enterprises (SMEs), which have already been battling skyrocketing energy bills, is in danger following the government’s warning that it might have to turn off the gas. Berlin had to trigger emergency plans on Wednesday that could eventually lead to gas rationing if standoff with Russia over rouble gas payments is not resolved. 

Miners Anxious as Chile Starts Discussing New Constitution

Chile’s constitutional convention started formally discussing a new Constitution that will replace a market oriented one dating back to the Pinochet dictatorship. Mining industry closely watches the proceedings as the new government plans to nationalize Chilean mining. Chile is the world’s top copper producer and has more than half of the world’s total lithium reserves. 

Stay informed

error: This content is protected !!