Market Watch – September 2019

Canada’s realtors produced another strong month of sales and prices in September, with gains in most major markets in a sign of strength for the nation’s housing market.

The number of units sold rose 0.6 percent last month, extending a recent jump in activity that have seen transactions rise 16 percent from a year ago, the Canadian Real Estate Association said Tuesday. Benchmark home prices rose 0.5 percent in September, and are up 2.3 percent over the past four months. Markets in British Columbia led gains in both sales and prices last month, with the country’s oil-producing regions the only ones showing any weakness.

The report is in line with other recent indicators that suggest housing has fully recovered from a slump earlier this year, helped by falling mortgage rates. The run of robust housing data gives the Bank of Canada another reason — along with strong job gains — to hold interest rates steady, even as counterparts around the world tilt toward easing policy.

“Home sales activity and prices are improving after having weakened significantly in a number of housing markets,” Gregory Klump, chief economist at the Ottawa-based realtor group, said in a statement. “How long the current rebound continues depends on economic growth, which is being subdued by trade and business investment uncertainties.”  Tyler Anderson/National Post

          

300 Welland Avenue, Unit 4

St. Catharines, ON. L2R 7L9

Office 905-685-7474  X 3

kris@REALTYNerd.ca

DIRECT 905-931-8335

KRIS VRCEK - BROKER

DIRECT CALL or TEXT  905-931-8335

ALL RIGHTS RESERVED @ REALTYNerd.ca 2020
Disclaimer: All of the information displayed is believed to be accurate but is not guaranteed and should be independently verified. We do not make any warranties or representations of any kind. The property information on this website is derived from the Canadian Real Estate Associations Data Distribution Facility (DDF). DDF references real estate listings held by brokerage firms other than Niagara Central Real Estate Brokerage LTD. The accuracy of information is not guaranteed and should be independently verified.

Join Realty Insider

Receive information on the newest Listings, Projects and my monthly Newsletter

You have Successfully Subscribed!

Share This

Share this post with your friends!