December 2013 Canadian Economic Fundamentals

[Ally]

Canada home sales, prices look slightly stronger than expected in 2013





OTTAWA - The Canadian housing market is expected to stay strong in 2014, while sales of previously owned homes now look to come in slightly better than expected this year, according to the country's largest real estate association.








The Canadian Real Estate Association's 2013 sales projections, released Monday, have risen slightly across Ontario and the four western provinces. And the group says prices have been generally firmer than originally forecast.





Read the full article here.

 

[Ally]

Average home prices rise almost 10% to $391,085





New data released Monday from the organization that represents home sellers shows Canada's housing market continues to hit new highs, with the average price increasing by almost 10 per cent in the last 12 months to $391,085.








The Canadian Real Estate Association said the strong gain was in part because this time a year ago, sales were down in some of the largest housing markets. When prices in Toronto and Vancouver are stripped out of the equation, the average annual price gain was 4.3 per cent, CREA said.





Read the full article here.

 

[Ally]

2013 not going down as the year of Canada's housing correction





It appears that 2013 is not going to go down as the year of Canada`s big
housing correction.








Sales of existing homes were scarcely changed in November from October,
edging down just 0.1%, the country`s real-estate trade group said in its monthly
report Monday. Sales activity, seen in the market as a precursor to price
action, was 5.9% higher over the sluggish year-earlier November, the Canadian
Real Estate Association said.





Read the full article here.

 

[Ally]

Group predicts robust real estate markets next year





OTTAWA -- The Canadian housing market is expected to stay strong in 2014, while sales of previously owned homes now look to come in slightly better than expected this year, according to the country's largest real estate association.








The Canadian Real Estate Association's 2013 sales projections, released Monday, have risen slightly across Ontario and the four western provinces. And the group says prices have been generally firmer than originally forecast.





Read the full article here.

 

[Ally]

CMHC releases comprehensive report on housing in Canada





OTTAWA, ONTARIO`(Marketwired ` Dec. 18, 2013) - Canada Mortgage and Housing Corporation (CMHC) today released the 2013 Canadian Housing Observer, its detailed annual review on the state of housing in Canada.








`The Observer is unrivalled in its detailed analysis of housing conditions and developments that influence housing finance and housing markets in Canada,` said Douglas A. Stewart, Interim President of CMHC. `The Observer provides insight into Canadian residential mortgage practices and other key trends, while underscoring the important role of housing in Canada`s economy.`





Read the full article here.

 

[Ally]

Early mortgage renewal: Are you truly saving money?





Here`s the scenario: your mortgage term is coming due in a few months and now
you`re starting to take a look at the rates that are available out there. Since
it`s nearly 2014, things have moved over the course of the past year, but not by
much. And as always, questions remain: Do you renew with your current lender? Do
you go for another fixed rate term or do you choose to roll the dice and choose a
variable rate mortgage?





Read the full article here.

 

[Ally]

Canada labour hit by wave of layoffs, plant closings





A wave of Canadian companies has shifted into job-cut mode as competitive pressures, weaker commodity prices and the perception Canada is a costly place to do business dent confidence.









A raft of layoffs and plant closings have been announced in recent months in sectors ranging from manufacturing to retail, media and energy. The timing of the announced reductions vary, but a conservative tally shows they number more than 4,800 workers since Oct. 1.





Read the full article here.

 

[Ally]

Women the new 'wildcard' in the condo market





Megan Vickell is a new brand of condominium owner that people predicting a market crash may have forgotten to factor in.


She`s young, single and ready to buy her first home. And, more importantly, she`s female ` part of a growing demographic that just might be creating a new paradigm in the housing sector.


Read the full article here.

 

[Ally]

The rising tide of homeownership





Maybe there is one temptation out there to get Canadians to stop buying homes. Cheaper rent.





Anyone sitting on the sidelines considering whether to buy a home in Canada might want to take a look at a recent report from the International Monetary Fund.





Read the full article here.

 

[Ally]

Canada debt levels to rise at a faster rate in 2014





Credit-monitoring agency TransUnion says the non-mortgage debt of Canadians is likely to set a record next year.








In its first such annual forecast, TransUnion predicts the average consumer's total non-mortgage debt will hit an all-time high of $28,853 by the end of 2014.








That would be about $1,100 more than the $27,743 of debt consumers are expected to have at the end of this year.





Read the full article here.

 

[Ally]

Enbridge's Northern Gateway pipeline has been approved by the national energy board





As sophisticated real estate investors know, taking a peek behind the
headlines is the way to think critically and find the right information to fuel
your decision-making process. Here`s a Vancouver Sun headline that you may consider taking for face
value:








`The National Energy Board has approved Enbridge's Northern
Gateway oilsands pipeline subject to 209 conditions.`





Read the full article here.

 

[Ally]

Canada's interest rate will stay at 1% for 'quite some time'





MONTREAL ` Bank of Canada Governor Stephen Poloz said his policy interest rate may remain unchanged for `quite some time` as the central bank weighs the risk of a sharp correction in housing prices against the threat posed by persistently low inflation.








Poloz said his October decision to drop language about the need for future interest rate increases was `more a movement toward honesty than dovishness,` and that his interest rate announcements were trying to project a neutral stance.










Read the full article here.

 

[Ally]

Will the Canadian economy perform better in 2014?





OTTAWA ` Wait until next year.





It`s a familiar refrain for sports teams, but the premise is getting old for Canadians awaiting the return of an economy that can be counted on for jobs, solid incomes and financial security.





Read the full article here.

 

[Ally]

October GDP growth beats estimates





The economy grew by 0.3 per cent in October, the fourth consecutive month-month increase, with the battered manufacturing sector and service industries making significant gains.








The results came in ahead of expectations for a gain of 0.2 per cent in October, compared with September's increase of 0.3 per cent.





Read the full article here.

 

[Icfman]

Hi Ally,

I am looking for fundamentals info for the montreal area. Can you help me out.



Thanks

 

[Ally]

Canada adds 21,600 jobs in November





OTTAWA - Canada added 21,600 jobs in November, the third consecutive month of modest gains, and the unemployment rate stayed at a nearly five-year low of 6.9 percent, Statistics Canada said on Friday.








The increase, greater than the 12,000 new jobs predicted by market analysts, is unlikely to put pressure on the Bank of Canada to raise rates.





Read the full article here.

 

[Ally]

Canada's economy in 2014





2014 is a welcome calendar change for many economy-watchers, as Canada this year saw some of the slowest economic growth since the Great Recession of 2008 to 2009.








One of the biggest headaches of 2013 was a political showdown in the U.S. over debt, which shut down the government in early October and threatened a massive global economic slowdown.





Read the full article here.

 

[Ally]

More jobs created in November





Our Canadian economy created an additional 21 thousand, 600 jobs last month -- the most since August -- but almost all the new workers were part-time.








So the unemployment rate remains unchanged at 6.9 per cent.





Read the full article here.

 

[Ally]

Canadians heading into 2014 with rosier outlook on economy





OTTAWA ` Despite gnawing concerns over heavily indebted households, Canadians still appear ready to keep on spending.








They seem more confident now than earlier this year that economic growth is picking up and their jobs are more secure, according to surveys released Monday.





Read the full article here.