7 charts that show how Canada’s housing market is getting back on its feet after a serious drop
Last month, the Canadian housing market showed its first signs of recovery, as national home sales inched up 1.3 per cent month-over-month, after falling 14.5 per cent in January. It could be an indication that the market has adjusted to a new mortgage stress test introduced on January 1, which is widely assumed to be the cause of the drop. But is the market starting to heat up again? To get to the bottom of this question, BuzzBuzzNews has rounded up 7 charts to put things in perspective.
Metro Vancouver housing market still ‘vulnerable’ – for eighth straight quarter
Metro Vancouver’s housing market has been assessed as “highly vulnerable” for the eighth consecutive quarter by the Canada Mortgage and Housing Corporation (CMHC). Check here for more details.
How the housing slowdown is taking the lustre off the whole Canadian economy
Did a slowdown in the housing markets take some shine off the Canadian economy this quarter? The answer is yes if you were to ask Stephen Poloz, the Governor of Bank of Canada. Check here for more details.
Picture: Armando Arauz