John Pasalis in Toronto Real Estate News
Here's a brief summary of a few real estate reports that were released this week.
CMHC Housing Now - New Home Market
- Housing starts are off 45 per cent from the same period last year and are at their lowest level in over 10 years.
- Across the GTA, activity in the Peel and York Regions has held up the best so far this year, registering below-average declines.
- It appears that a bottom has formed for housing starts in the GTA
Download the full report here.
House Price Index for July - by Teranet and National Bank
- Canadian home prices in July were down 5.1% from a year earlier
- It was also the first time in 13 months that prices in every region covered by the index were up from the month before
- For the composite index it was a third consecutive monthly rise
- The July monthly rises were 2.6% in Ottawa, 2.2% in Toronto, 1.5% in Vancouver, 0.8% in Halifax, 0.7% in Montreal and 1.0% in Calgary
Browse the House Price Index data for July.
S&P Case Shiller Index - US Real estate
- Home values in 20 U.S. cities climbed in July by the most in almost four years
- The S&P/Case-Shiller home-price index rose 1.2 percent in July from the prior month, the biggest gain since October 2005
- From a year earlier, the S&P/Case Shiller index was down 13.3 percent, less than economists anticipated and the smallest decrease in 17 months
John Pasalis is the Broker owner of Realosophy Realty Inc in Toronto. Email John
