Canadian home sales edge up in February

Fri, 03/13/2015 – 09:00 Ottawa, ON, March 13, 2015– According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity edged up slightly on month-over-month basis in February 2015. Ottawa, ON, March 13, 2015– According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity edged up slightly on month-over-month basis in February 2015. Highlights: National home sales edged up 1.0% from January to February. Actual (not seasonally adjusted) activity stood 2.7% above February 2014 levels. The number of newly listed homes fell 2.5% from January to February. The Canadian housing market remains balanced. The MLS® Home Price Index (HPI) rose 5.01% year-over-year in February. The national average sale price rose 6.3% on a year-over-year basis in February. The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose by one per cent in February 2015 compared to January. The monthly increase was led by Greater Vancouver, the Okanagan region, and Greater Toronto. Gains there offset sales declines elsewhere, with more than half of all local markets having posted weaker sales in February compared to January. “A number of buyers across the Prairies stayed on the sidelines in February,” said CREA President Beth Crosbie. “That’s likely to remain an important part of the national housing story until the outlook for oil prices starts improving. Meanwhile, home sales in British Columbia and much of Ontario are improving, which underscores the fact that all real estate is local. Nobody knows this better than your local REALTOR®, who remains your best source for information about...

CREA Updates and Extends Resale Housing Forecast

Fri, 03/13/2015 – 08:58 Ottawa, ON, March 13, 2015 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2015 and extended it to 2016. The further decline in oil prices since CREA’s last forecast has shaken consumer confidence in the Prairies, pushing potential homebuyers to the sidelines and prompting more homeowners to put their home on the market. This has led to a rapid shift in market balance in Alberta, and to a lesser extent, Saskatchewan. Annual sales in these provinces are expected to come in well below elevated levels posted last year, with small declines in average residential prices in 2015. Additionally, the Canadian dollar has weakened further against the U.S. dollar, mortgage rates have declined and the U.S. economy has strengthened since CREA’s last forecast, which taken together are expected to benefit economic and job growth in other provinces. Accordingly, CREA has upwardly revised its forecast for sales activity for much of the rest of the country. The balance between supply and demand continues to tighten in British Columbia and Ontario. These are the only two provinces where tight supply relative to demand is expected to result in average price gains that surpass inflation this year. By contrast, average prices in Quebec and the Atlantic region are expected to remain relatively stable, as sales deplete elevated levels of supply. On balance, the forecast for national sales has been revised lower, reflecting downward revisions to the outlook for sales in Alberta. National sales are now projected to...

Data Analyst – (full-time 12 month contract position)

Data Analyst – (full-time 12 month contract position) Thu, 03/12/2015 Overview:     The Canadian Real Estate Association (CREA) is one of Canada's largest single-industry trade Associations. Our membership includes more than 100,000 real estate brokers, agents and salespeople, working through 100 real estate Boards and Associations across Canada. read...

Bank of Canada keeps rates on hold

Thu, 03/05/2015 The Bank of Canada announced on March 4th, 2015 it was keeping its trend-setting overnight lending rate at 0.75 per cent. Six weeks earlier, the Bank surprised markets by cutting the rate by a quarter of a percentage point as insurance against economic damage from the drop in oil prices. The Bank of Canada announced on March 4th, 2015 it was keeping its trend-setting overnight lending rate at 0.75 per cent. Six weeks earlier, the Bank surprised markets by cutting the rate by a quarter of a percentage point as insurance against economic damage from the drop in oil prices. In its March announcement, the Bank was upbeat about recent and further expected strength from exports and investment. Only time will tell to what extent these factors offset economic fallout from lower oil prices, so speculation remains as to whether the Bank will cut interest rates again later this year. As of March 4th, 2015, the advertised five-year lending rate stood at 4.74 per cent, down 0.05 percentage points from the previous Bank rate announcement on January 21st, and down 0.25 percentage points from one year ago. The Bank’s next interest rate announcement is on April 15th, when it also releases its updated economic forecast. At that time and barring some unforeseeable economic calamity, it will keep rates steady rather than cutting them further. (CREA...

Business Systems Analyst (12 Month contract)

Business Systems Analyst (12 Month contract) Tue, 03/03/2015 Function:The Systems Analyst supports the creation, development and enhancement of CREA’s IT-based Services by detailing and documenting requirements; designing component solutions; and, taking a lead role in releases of new or enhanced CREA applications. Reports to:Associate Director, IT Responsibilities: Member Priorities: read...