Canadian Real Estate SLOWS in April: Buyers Not 'Buying' the Forecasts

#canadarealestate #bankofcanada #canadianrealestate

The Canadian real estate market continued to slow in April, as buyers aren’t buying the forecasts of imminent rate cuts and prices to the moon – Fool me once!

LINKS:

National Statistics:

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

Home Buyers Remain Cautious Amid Increasing Spring Listings:

https://www.youtube.com/watch?v=v4cW5Qbz60Q&list=PLOKoTy8yPzZaRjG8ArUm5F6Ny2FEl5rxb

Canadian home sales begin 2023 at 14-year low:

https://www.youtube.com/watch?v=Oh67aoV0rUY&t=223s

Home sales dip in April from prior month as spring listings perk up: CREA:

https://www.thestar.com/business/home-sales-dip-in-april-from-prior-month-as-spring-listings-perk-up-crea/article_af2ee265-69e5-52c4-bc13-9128f59f8b39.html

Home Buyers Remain Cautious Amid Increasing Spring Listings:

https://ca.finance.yahoo.com/news/home-buyers-remain-cautious-amid-130000241.html

Toronto real estate market hits spring standoff: listings up 47% while sales sag:

https://www.thestar.com/business/toronto-real-estate-market-hits-spring-standoff-listings-up-47-while-sales-sag/article_e374d4fa-08ac-11ef-8c9b-eb8a19e8f6fc.html

Consumer price index:

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

Indicators of financial vulnerabilities:

https://www.bankofcanada.ca/rates/indicators/indicators-of-financial-vulnerabilities/

Implied short-term interest rate movements and probabilities based on BAX prices:

https://www.m-x.ca/en/trading/tools/canadian-interest-rate-expectations

Markets and economists react: BoC June rate cut bets slashed after unexpectedly strong jobs data:

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-markets-slash-bets-of-june-boc-rate-cut-after-stronger-than-expected/

June rate cut 'within the realm of possibilities,' says Macklem, as Bank of Canada holds rate at 5%:

https://ca.finance.yahoo.com/june-rate-cut-within-the-realm-of-possibilities-says-macklem-as-bank-of-canada-holds-rate-at-5-164526351.html

‘Welcome news’ on inflation raises odds Bank of Canada will cut interest rate in June:

https://financialpost.com/news/economy/inflation-raises-odds-bank-of-canada-rate-cut-june

‘A clear path to cut rates in June’: How economists and market bets for BoC moves reacted to Tuesday’s inflation data:

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-how-economists-and-market-bets-for-rate-cuts-reacted-to-todays-2/

Hoping the Bank of Canada will cut rates Wednesday? Experts say you’ll likely have to wait until June:

https://www.thestar.com/business/hoping-the-bank-of-canada-will-cut-rates-wednesday-experts-say-youll-likely-have-to/article_91650de6-f5ac-11ee-a8bd-33d2fc391ce6.html

Here’s when markets expect the Bank of Canada to start cutting interest rates:

https://globalnews.ca/news/9646398/bank-of-canada-interest-rate-cuts-2024/

Bank of Canada Holds Key Interest Rate, but the Cost of Your Mortgage May Still Go Up:

https://money.ca/mortgages/mortgage-rates-news/the-bank-of-canada-held-its-overnight-rate-but-the-cost-of-your-mortgage-may-still-go-up

Even if BoC raises rates I don’t see it having a big impact on the housing market: Nasma Ali:

https://www.bnnbloomberg.ca/video/even-if-boc-raises-rates-i-don-t-see-it-having-a-big-impact-on-the-housing-market-nasma-ali~2339652

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Did you miss our previous article...
https://trendinginrealestate.com/real-estate-trends/sellers-are-hitting-the-panic-button-realtorcom-reports-surprise-30-spike-in-inventory