CMHC (Canada Mortgage and Housing Corporation) New housing starts fell in March by an annualized rate of 11%!  From 241,000 units last MCorporation)arch to 214,000 units this March.  Economists had expected construction of new housing units to fall by 1.2%.  They were out by a factor of 10! This will lead to strong upward pressure in the housing market as renters and buyers compete for incr ...

The Bank of Canada held interest rates steady at 4.5% today – April 12, 2023.

The Bank of Canada anticipates that the inflation rate will fall to 3% by mid 2023.  However, the target is to have inflation at or below 2% by 2024… this may be more challenging, so the door remains open for future interest rate increases.  Stay tuned!

Housing Statistics March 2023 – Calgary In spite of the higher interest rates there is upward pressure on cost of housing.  This is due to historically low inventory.  Inventory levels have not been this low since 2006!  Month over month the Home Price Index has gone up by between 2.2 and 2.6%.  Year over year apartment condominiums have done the best with an annual increase of about 11%. W ...