#CanadaRealEstate #CanadianRealEstate #canadianeconomy

Canada’s real estate prices continued to decline in December, with multiple reports predicting a bottom in 2023. Yet historically Canada’s real estate market slows during a recession, of which a majority of Canadians predict we are about to enter.

Links:

Canadian home sales edge up to end 2022:

https://creastats.crea.ca/en-CA/

Canadian home prices post record drop as high rates hit buyers:

https://www.bnnbloomberg.ca/canadian-home-prices-post-record-drop-as-high-rates-hit-buyers-1.1870735

Recession or soft landing? Big bank economists weigh in on Canada’s economic fate:

https://globalnews.ca/news/9409047/canada-recession-economy-big-banks/

CANADA STOCKS-TSX hits six-week high as investors await inflation data:

https://finance.yahoo.com/news/canada-stocks-tsx-hits-six-153257450.html

Canadian home prices fall again, now down 10% from peak:

https://www.bnnbloomberg.ca/canadian-home-prices-fall-again-now-down-10-from-peak-1.1846653

What does a recession mean for homebuyers?:

https://www.mpamag.com/ca/mortgage-industry/guides/what-does-a-recession-mean-for-homebuyers/427342

Recession in Canada:

https://www.thecanadianencyclopedia.ca/en/article/recession

Interest Rates: Immediate Rates ( 24 Hrs): Prime Rates: Total for Canada:

https://fred.stlouisfed.org/series/IRSTPI01CAM156N

Residential Property Prices for Canada:

https://fred.stlouisfed.org/series/QCAN368BIS

Consumer price index portal:

https://www.statcan.gc.ca/en/subjects-start/prices_and_price_indexes/consumer_price_indexes

Consumers expect a recession this year and businesses expect sales to fall, Bank of Canada surveys find:

https://www.cbc.ca/news/business/bank-of-canada-surveys-1.6715333

Mark Mitchell – Mortgage Broker London Ontario
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