The Halifax-Dartmouth area had the greatest drop in listings. Compared to the 10-year average, the region had 65.5 per cent fewer listings in July 2022, although the report notes that home-buying activity has levelled off thanks to higher interest rates and slowed migration from other parts of Canada.
The number of listings in Calgary were 26.1 per cent lower than the 10-year average, while in Winnipeg, it was 23 per cent lower. Re/Max notes that because of migration from Ontarians and British Columbians seeking cheaper housing, Calgary's housing inventory "fell to its lowest level in a decade." It's a similar story in the Greater Toronto Area. The July 2022 listings were 6.8 per cent lower than the 10-year average of 16,458 units. That's also far lower than the 10-year average between 2003 and 2021, which saw 21,243 listings. Re/Max also notes the population in the GTA grew by 21 per cent between 2006 and 2021.
The Hamilton-Burlington region in Ontario was the only market to report an increase over the 10-year average. The region saw 3.2 per cent more listings in July 2022 compared to the 10-year average, as buyers from Toronto, as well as new immigrants, continue to drive population growth.said Canada's housing supply need an additional 3.5 million homes than what is already projected to be built by 2030.
How many empty homes and condos purchased by foreign investor groups to maintain rental levels at the price they are now. It's all about profits and the annual increase to value not the availability of rental units because they don't rent these units yet they snap them up fast .
There's à housing crisis everywhere it's not going to end unless government puts a cap on rent rates landlord's are way to greedy
Because of Chinese people
Everything is under crisis with Trudope.
Crisis caused by Trudeau shutting down our lives. Mass immigration when people are living on the streets and families can't afford rent or ever dreaming of owning a home. It is falling like 30's, thanks Trudeau, creating new Government jobs hide unemployment rates TrudeauMustGo
Our home at 40 Hewitt Crescent Ajax was stolen by a series of frauds! Ontario’s government doesn’t care that we are victims of this massive theft! DRPS is forcing me to go vigilante on the criminals involved and the others involved in the coverup of the crimes! onpoli cdnpoli
Just wait till next when people have to remortgage. There will be lots of houses then.
Tons of empty apartments that landlords would rather keep empty than rent at a reasonable price.
How much money did we just send Ukraine, Pakistan and Afghanistan? Our country is overrun by Indians and other foreigners who get houses before our own. How many homeless Indians do you see? Now white people are begging for equal rights and diversit Stop letting people in Canada
This government has created more homeless people than in any other time in canadian history
It’s been like this for a longtime. If you happen to sign up on a housing list it’s 8-12 years and 1-2 for supposed emergencies which should be immediately available but no the government would rather have people out on the streets. Living wages should be mandatory.
Because people want HOUSES, not HOUS-ING.
time to put shovels in ground
No mention of unsustainable immigration levels, which drive all of this into an impossible burden.
Curious that there’s no mention of the Airbnb phenomenon. Speculative buying and renoviction flips have doubled apartment prices in the most affected market you mention, which is so because there are 7 universities in an urban pop of 297K.
Trudeau's Mass immigration for climate change at work.
I have heard this Schlick for 30 years. Developers are interested in max profit per square foot. That translates to better return for realtors too. The problem is we do get housing for people to live in with schools and merchants near by. City planners need to plan in more detail
If there’s demand for them the prices wouldn’t be dropping 10% a month
Hard Stop. There’s over 1.5 million homes sitting empty across Canada. Mostly owned by investors, just to sit empty. Building more houses will just make more houses sit empty. This is a complete lie by Remax and authorities should investigate their false claims and CTV’s.
Justin will fix it, he said he would in 2015.. so stunning and very very brave