HOME RATES ABOUT SERVICES VIDEO BLOG CONTACT ME TEAM
AGENT LICENSE ID
M08000430
BROKERAGE LICENSE ID
10357
Kirsten Plester Mortgage Broker

Kirsten Plester

Mortgage Broker


Phone:
Address:
109 Broadway Avenue, Unit 9, Orangeville, Ontario

BROWSE

PARTNERS

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

Scotiabank: Canada Housing Market: Still at the doorstep of a recovery, but hesitant to knock at the door

8/23/2024

National housing resale conditions softened from June to July as reflected by the modest decline in the sales-to-new listings ratio. Over this period, national sales declined by 0.7% (sa m/m) while new listings increased 0.9%. In July, sales were higher by 4.8% (nsa) compared to the same month in 2023.

After increasing from May to June, the sales-to-new listings ratio—which reflects how tight resale conditions are—edged down to 52.7% from June to July, essentially back to its May level, and still within the range for balanced national resale market conditions (of between 45% to 65%).

Months of inventory remained unchanged over this period at 4.2, still below its long-term (pre-pandemic) average of 5.3. And since the national market aggregates very different regional markets, there are wide variations in terms of how this indicator compares to its long-term average across provinces, ranging from less than 2 weeks above average in Ontario and British Colombia and Ontario to 5.7 months below in New Brunswick.

About 2/3 of the markets witnessed a decline in their sales-to-new listings ratio from June to July. Consequently, the number of sellers favouring markets declined from 10 in June to 5 in July while the number of balanced markets increased from 16 to 22.

https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.housing.housing-news-flash.august-15--2024.html

MY LENDERS

Scotia Bank TD Bank First National EQ Bank MCAP Merix
Home Trust CMLS Manulife RFA B2B Bank Community Trust
Lifecycle Mortgage ICICI Bank Radius Financial HomeEquity Bank CMI Bridgewater
Sequence Capital Wealth One Fisgard Capital Bloom Financial NationalBank