The article discusses changes in the Canadian real estate market, particularly in terms of sales-to-new listings ratios (SNLR). The key points are:
- Canada’s Largest Market Sees Decrease: Toronto’s SNLR has decreased from 65% to 53%, indicating a shift towards buyers’ markets.
- Smaller Cities Experience Heightened Demand: Smaller cities like Thunder Bay, Regina, and Sudbury have seen significant increases in their SNLRs, making them attractive for sellers due to affordability and potential investments compared to larger urban centers.
- Sellers Markets Exist Outside of Major Urban Centers: Places like Thunder Bay (SNLR: 87%), Regina (78%), and Sudbury (70%) offer lucrative opportunities for sellers due to the heightened demand in these areas.
- Potential Impact on Bank of Canada Rate Decisions: The weakening labour market has influenced the Bank of Canada’s decision to increase rate cuts, but recent job data indicate a mixed signal for future decisions.
The article also mentions other economic and financial topics:
- The Canadian job gains surpassed expectations in October, with a 30,000 gain, although the unemployment rate remained steady.
- The Bank of Canada may need to cut rates deeper than its peers due to the weakening labour market and inflation concerns.
- A series on building long-term wealth for younger Canadians highlights the importance of understanding investment risks, including the impact of one stock on overall returns.
Overall, the article provides insights into the current state of the Canadian real estate market, economic trends, and potential implications for future monetary policy decisions.
