Sales are Down, Prices are Down Nationally, CREA Stats Confirm a Slowing Real Estate Market

In this video a go through the Canadian Real Estate Association’s (CREA) April statistics which confirm national sales are down significantly, average sale prices are down and all due to rising interest rates. I analyze their media release and add me own 2 cents to it. I also compare housing news from January and February to now to see how the mood has changed.

Here’s link to all my sources for the video, enjoy!

https://www.crea.ca/news/march-home-sales-and-new-listings-ease-back-following-surge-in-february/

https://www.bnnbloomberg.ca/rate-hikes-will-turn-down-the-housing-market-heat-rbc-1.1714436

https://www.thestar.com/business/2022/01/27/now-its-a-race-homebuyers-will-rush-to-get-into-the-real-estate-market-before-interest-rates-rise-in-coming-months-economists-say.html?rf

https://financialpost.com/news/economy/banking-watchdog-warns-housing-prices-could-plunge-20-when-speculative-fever-breaks

https://betterdwelling.com/canadian-real-estate-resembles-80s-bubble-higher-rates-to-solve-supply-issue-bmo/

https://financialpost.com/real-estate/canadians-deepening-their-faith-in-red-hot-housing-market-even-as-rate-hikes-loom

https://financialpost.com/executive/executive-summary/posthaste-move-over-vancouver-this-is-canadas-most-expensive-housing-market-now-says-rbc

https://ottawa.ctvnews.ca/kingston-ont-has-the-fastest-rising-home-prices-in-all-of-canada-new-numbers-show-1.5773434

https://www.theglobeandmail.com/real-estate/toronto/article-housing-market-supercharged-by-the-bank-of-mom-and-dad/

https://ca.finance.yahoo.com/news/canada-real-estate-housing-market-breaks-two-price-records-170649236.html

https://www.reuters.com/world/americas/canada-home-prices-defy-gravity-this-year-correction-unlikely-202Jan2-03-02/

https://betterdwelling.com/this-weeks-top-stories-canadas-real-estate-bubble-to-pop-in-2022-bank-of-canada-warns-debt-is-a-problem/

https://ca.finance.yahoo.com/news/housing-sales-hammered-still-buy-184500283.html

Bidding war no more: How to make an offer in Canada’s cooling housing market

https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-cooling-housing-market-gives-some-leverage-back-to-homebuyers/

https://www.thestar.com/business/2022/05/13/the-housing-market-is-cooling-but-prices-remain-high-should-you-buy-now-or-wait.html

https://financialpost.com/executive/executive-summary/posthaste-the-way-the-housing-market-is-stalling-the-bank-of-canada-may-have-to-hit-the-brakes-sooner-than-expected

Brokers seeing less bidding on homes as Canadian sales drop

https://betterdwelling.com/canadas-real-estate-bubble-wont-be-protected-by-population-growth-bmo/