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Canadians will soon see an unprecedented increase in housing supply. RBC's analysis revealed multi-year highs in new home construction at various stages during Q2 2021. The highest number of new housing starts in more than three decades was reached in Q2 2021. In the coming months, homes that have been completed will reach a multi-decade record. Canada has never seen so many homes being built at once. Canadian New Homes Starts Reach Their Highest Level Since 1977 The highest number of new housing starts in Canada in more than three decades has been reached by Canadians. In Q2 2021, the seasonally adjusted annual rate of housing starts was 260,500 units. This is 26.75% more than last year and 26% more than the average for 2015-2019. The foundation is ready for use. These units will usually contribute to the supply in the next two-years. Canada has Never Had More Homes Under Construction Canada has never had so many homes in construction. In Q2 2021 the SAAR for homes under ...

OTTAWA-- The August increase in Canadian new house prices continues the upward trend that started in the spring 2020. Statistics Canada reported Tuesday that August saw a 0.7% increase in new house prices in Canada. New house prices rose 12.2% compared to a year earlier. According to the Canadian Real Estate Association, existing home sales fell for the fifth consecutive month in August. However, they are still at historical high levels. According to Shaun Cathcart of the association, economist, the Canadian Real Estate Association, the Canadian housing market appears to be stable between its pre-pandemic levels and the peak they reached during the pandemic. Statistics Canada reports that new house prices increased in 13 of 27 metro areas. The largest increase was in London, Ontario (a city located about 100 miles southwest from Toronto), where prices increased 3.9% in August compared to the previous month.   Sandi Branker is a Real Estate agent and a Thin...