Tag Archives: CMHC

Toronto Housing Construction Decreased Slightly In February

Posted on March 14, 2012 | Leave a comment

According to the Canada Mortgage and Housing Corporation (CMHC), the seasonally-adjusted rate of total housing starts decreased to 30,400 units in February 2012 for the Toronto Census Metropolitan Area.

“Given the record-level of housing units already under construction in Toronto, the slowing in new starts will help support stability in the market, particularly in the case of condominium apartments,” said the senior market analyst for the Greater Toronto Area, Shaun Hildebrand, in a press release.

In 2011, Toronto housing starts increased overall while declining month-to-month towards the end of the year.

Housing starts increased across Canada in February, up to 201,100 units from 198,100 units in January.

According to the deputy chief economist at the Canada Mortgage and Housing Coporation’s market analysis centre, Mathieu Laberge, “Increases in these provinces were partially offset by decreases in multiple starts in Ontario and Atlantic Canada. Multiple housing starts in Quebec had fallen nearly 50 per cent in January, so February’s rise can be seen as a return to a more normal rate of construction.”

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

→ Leave a comment

Posted in Before You Buy, Before You Sell, City of Toronto

Tagged ,

October 2011 Housing Starts Decrease Slightly

Posted on December 1, 2011 | Leave a comment

In October 2011, the seasonally adjusted rate of housing starts decreased from the 208,800 units in September, to a slightly lower number of 207,600 starts.

“Housing starts posted a slight decline in October due to a decrease in single-detached starts in urban centres,” said the deputy chief economist at the Canada Mortgage and Housing Corporation’s Market Analysis Centre, Mathieu Laberge, in a press release. “Urban multiple housing starts remained high in October, but overall housing starts are expected to moderate in line with demographic fundamentals.”

In Ontario, the seasonally adjusted annual rate of urban housing starts decreased by 11.7 per cent in October.

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

→ Leave a comment

Posted in Before You Buy

Tagged ,

No Housing Market Correction Coming: CMHC

Posted on September 2, 2011 | Leave a comment

According to this article over at BuzzBuzzHome, the Canada Mortgage and Housing Corporation’s third quarter outlook forecasts a steady, stable market.

“Housing starts have been strong in the last few months, but are forecast to moderate closer in line with demographic fundamentals,” said the deputy chief economist for the Canada Mortgage and Housing Corporation in a press release. “Despite the recent financial uncertainty, factors such as employment, immigration and mortgage rates remain supportive of the Canadian housing sector.”

The Canada Mortgage and housing Corporation upgraded its most recent housing starts outlook from 179,500 to 183,200 for 2011, and the number is expected to be a bit higher at 183,900 in 2012.

In addition, home sales Canada-wide are expected to be on par with 2010 at somewhere between 425,000 and 472,000. In 2012, this is expected to increase to somewhere between 407,500 and 510,000.

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

→ Leave a comment

Posted in Market Information

Tagged , ,

Toronto Home Prices To Cool In Autumn

Posted on September 1, 2011 | Leave a comment

According to this article in the Toronto Star’s Moneyville, Toronto home prices are expected to cool through the fall months. This is according to the housing market outlook released by the Canada Mortgage and Housing Corporation at the end of August.

This cooling in Toronto home prices, according to the article, should “ease bidding wars and lead to more moderate price increases into 2012”.

The Canada Mortgage and Housing Corporation told the Star that, “Prices will be treading water for the next few quarters. We’re seeing sales levels start to moderate. We’re seeing new listings start to catch up to demand, and that’s going to create more balanced market conditions. Prices won’t be growing as quickly as they were.”

“With the recent heightened uncertainty in the global economy and financial markets, you could see reduced demand for bigger ticket items. We’re washing the August market numbers to see if that’s happening,” said Shaun Hildebrand, the Toronto market analyst for the Canada Mortgage and Housing Corporation.

Housing starts are also expected to drop a little bit this fall, but will increase again about a year from now. Ontario-wide, the housing market is expected to be stronger than was originally forecast earlier in 2011.

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

→ Leave a comment

Posted in Market Information

Tagged , ,

Housing Starts Increase In June 2011

Posted on July 27, 2011 | Leave a comment

According to the Canada Mortgage and Housing Corporation, housing starts increased in June to 197,400 units from 194,100 in May and April, and Ontario led the increase in housing starts.

The seasonally adjusted annual rate of urban starts rose 2.2 per cent to a total of 174,600 units in June, while urban single starts increased 11.1 per cent in June. Multiple urban starts dropped 3.1 per cent to a total of 103,700 units.

Housing Starts from the Canada Mortgage and Housing Corporation.

“Housing starts increased in June due to an increase in single and multiple starts in Ontario,” said the chief economist at the Canada Mortgage and Housing Corporation’s market analysis centre in a press release. “The revised numbers show that housing starts have been above their trend line since March. However, we expect housing starts to move back towards levels consistent with demographic fundamentals in the near term,” he said.

As for Toronto, the seasonally-adjusted rate of housing starts in the Toronto Census Metropolitan area jumped 23 per cent to 45,100 units. Single-detached starts rose from 8,100 in May to 14,700 in June, and multiple family starts rose 6.3 per cent to 30,400 units.

“More singles are starting thanks to some strength in pre-sales six months ago, said the Canada Mortgage and Housing Corporation’s senior market analyst for the Greater Toronto Area. “This momentum for singles should be short-lived due to the on-going challenge of a reduced supply of available lots and also some moderation in demand as interest rates begin to increase.”

→ Leave a comment

Posted in Market Information, Mortgage Information

Tagged , ,

Canada Mortgage And Housing Corporation Revises Sales Forecast

Posted on June 7, 2011 | Leave a comment

After better than expected Toronto real estate sales in in the Greater Toronto Area, the Canada Mortgage and Housing Corporation is revising their sales forecast.

“Interest rates have been much lower than expected, so that has given the market a boost for longer than we thought,” said the Canada Mortgage and Housing Corporation’s senior market analyst.

The Canada Mortgage and Housing Corporation also said that, “A rising number of wealthy immigrants, a large share of high income earners, downsizing empty nesters and homeowners with substantial amounts of equity” are helping to boost home sales in Toronto.

Average prices across Canada are expected to drop in areas across Canada, except for Toronto, but including the rest of Ontario. Prices in Toronto are expected to increase by 4.3 per cent – instead of a decline of 0.4 per cent – to $451,000. Sales will also only fall by 2.5 per cent as opposed to the initial prediction of 3.6 per cent.

“Consumer buying patterns, particularly in more expensive Ontario markets will increasingly shift to less expensive housing over the next few years,” said the Canada Mortgage and Housing Corporation’s Ontario regional economist. “After sharp increases early this year, Ontario home prices will grow closer to inflation as markets move to a more balanced state.”

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list

→ Leave a comment

Posted in City of Toronto, Market Information

Tagged , ,

Canadian Building Permits Increase In Value In 2010

Posted on February 7, 2011 | Leave a comment

Building permit values up in Ontario

After two straight months of decline, the value of building permits in Canada increased to $5.7 billion in December of 2010 – mostly thanks to Ontario.

Central Toronto Real Estate Housing Starts Dec 2010

December Housing Starts from the Canada Mortgage and Housing Corporation. Click for full size.

According to Statistics Canada, much of the 2.4% increase in the value of building permits during December 2010 was driven by multi-family units (such as condominiums and multiple-unit town homes) in Ontario, which had the largest gain in the value of building permits across the country. Quebec had the lowest after a large increase in November.

Residential building permit values increased more than 21% to a total value of $3.8 billion, while non-residential building permits felt a sharp decline, resulting in the lowest numbers since about a year ago: a 22% fall to $1.9 billion. For the entire year, building permits across Canada increased in value by 19.8% to $73.1 billion.

More Toronto homes under construction in 2010

An increase in building permits issued indicates an increase in intentions or plans to build new homes, while housing starts would indicate the number of homes actually under construction. According to the Canada Mortgage and Housing Corporation, Toronto housing starts increased in 2010 by 13%.

For more information on 2010 new home construction in Toronto, see our Central Toronto Real Estate Blog posting here.

→ Leave a comment

Posted in Market Information, New Home

Tagged , ,

2010 Canadian Housing Observer Released

Posted on October 9, 2010 | Leave a comment

The annual Canada Mortgage and Housing Corporation publication, the Canadian Housing Observer, has been released for the year 2010. The publication offers a comprehensive review on new home construction, rental and sales or renovations of new and existing homes in Canada.

“The Canadian Housing Observer provides a comprehensive review of the critical role housing plays in the Canadian economy,” said Karen Kinsley, the president of the Canada Mortgage and Housing Corporation in a press release. “The Observer details the far-reaching impact of housing in generating economic activity and employment across sectors, and highlights how housing finance continues to be a cornerstone of Canada’s financial system.”

Some key findings in this year’s Observer include that the number of owner-occupied condominiums across Canada increased almost 40 percent from 2001 to 2006, that renovation spending reached $40.3 billion in 2009 growing by almost 3 per cent, and that Canada’s housing market is strong enough to survive recessionary periods because of consumer behaviour, regulatory oversight, government involvement and prudent financial industry practice.

This issue of the Observer looks into other aspects of housing in the last 10 years not previously covered in past issues like core housing need and sustainable community initiatives by the Government of Canada. The Canada Mortgage and Housing Corporation has also introduced a new online tool recently that provides custom data tables to users displaying various housing information.

The 2010 Canadian Housing Market Observer is available at this link: www.cmhc.ca/en/corp/about/cahoob/index.cfm

→ Leave a comment

Posted in General Information

Tagged ,

When getting ready to sell, where do you start?

Posted on July 27, 2010 | Leave a comment

If you’re thinking of selling your home in the near future, now is the time to perform some upkeep on the house before the real staging begins.

Check your Curb Appeal
Well in advance is when you can start on checking your curb appeal. This gives you enough time to make any repairs to the exterior of the home, fix bald spots on the lawn, repave the driveway and ensure your garden is attractive and welcoming. Curb appeal makes that important first impression, so it should be first on the list.

Walls and Roof
How do the walls and roof look from the outside? A pair of binoculars might help you spot damage that might be otherwise difficult to see. If these aren’t spotted and fixed, a buyer’s home inspection might catch them.

Basement and Garage
The basement and garage will also be on a home inspector’s list. The garage may just need a deep clean and de-clutter, but it will save you from having to do it later when you’re busy prepping your home for open houses. The basement is the most important of these two because of the structural foundation it provides a home. Any cracks or leaks should be repaired immediately.   Home inspections for sellers are always an option to consider. If it’s in your budget, an inspection can help you spot and fix problems before a buyer’s home inspection catches them, making the whole process go that much more smoothly – and quickly.

The Canadian Homeowner’s Inspection Checklist is available from the Canada Mortgage and Housing Corporation for $19.95 on their website, and offers information and solutions on what to check for periodically in and around your home. This guidance can prove especially useful if you intend to sell in the near future.

→ Leave a comment

Posted in Home Inspection Information

Tagged