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October 16, 2018
Québec's Real Estate Market Remained Strong in September
Québec’s Real Estate Market Remained Strong in September

Fall is starting off on a positive note for the province’s residential real estate market. Statistics from the real estate brokers’ Centris provincial database show that 6,226 sales were concluded in the province of Québec …

October 15, 2018
Canadian Home Sales Fall in September
Canadian Home Sales Fall in September

According to the Canadian Real Estate Association (CREA), monthly home sales were down 8.9 per cent in September 2018 compared to the same month of last year. “The balance between the number of home buyers …

October 10, 2018
Decrease in Housing Starts in Québec in September 2018
Decrease in Housing Starts in Québec in September 2018

According to preliminary data from the Canada Mortgage and Housing Corporation (CMHC), there were 4,171 housing starts in Québec centres with 10,000 or more inhabitants in September 2018. This represents a 16 per cent drop …

October 10, 2018
The Housing Sector Calls for a Department
The Housing Sector Calls for a Department

Housing is a major economic and social pillar in Québec. The housing sector represents annual investments of nearly $30 billion and creates hundreds of thousands of quality jobs in all regions throughout the province. Whether it …

October 5, 2018
The unemployment rate in Québec slightly decreases in September and in the third quarter
The unemployment rate in Québec slightly decreases in September and in the third quarter

The unemployment rate in Québec slightly decreases in September According to Statistics Canada’s Labour Force Survey, 4,245,000 jobs (seasonally adjusted) were held in Québec in September 2018, which represents 8,300 fewer jobs than the previous …

September 21, 2018
Québec's Consumer Confidence Level Increased in September
Québec’s Consumer Confidence Level Increased in September

According to the Conference Board of Canada, in September, 46 per cent of Québec consumers felt that the time was right to make a major purchase, such as a property. This represents a higher proportion than the …

September 17, 2018
Canadian Home Sales Fall Slightly in August
Canadian Home Sales Fall Slightly in August

According to the Canadian Real Estate Association (CREA), monthly home sales were down 3.8 per cent in August 2018 compared to the same month of last year. “The new stress-test on mortgage applicants implemented earlier …

September 11, 2018
Decrease in Housing Starts in Québec in August 2018
Decrease in Housing Starts in Québec in August 2018

According to preliminary data from the Canada Mortgage and Housing Corporation (CMHC), there were 1,819 housing starts in Québec centres with 10,000 or more inhabitants in August 2018. This represents a drop of 31 per …

September 7, 2018Record Month of August for Québec’s Real Estate Market

Québec’s real estate market set a new sales record in August. Statistics from the real estate brokers’ Centris provincial database show that 6,351 sales were concluded across the province, which represents a 7 per cent …

September 7, 2018The unemployment rate in Québec remains stable

According to Statistics Canada’s Labour Force Survey, 4,253,300 jobs (seasonally adjusted) were held in Québec in August 2018, which represents 2,300 fewer jobs than the previous month. Compared to August of last year, this number …

September 5, 2018Bank of Canada Maintains Overnight Rate Target at 1.5 Per Cent

Following an increase in July from 1.25 per cent to 1.5 per cent, the Bank of Canada today announced it was maintaining its target for the overnight rate at 1.5 per cent. However, recent data …

August 7, 2018
Momentum Continued on Québec's Real Estate Market in July
Momentum Continued on Québec’s Real Estate Market in July

The province’s real estate market performed well once again in July, as data from the real estate brokers’ Centris provincial database show that sales increased by 3 per cent compared to July of last year. …

June 29, 2018
Québec's Consumer Confidence Level Decreased in June
Québec’s Consumer Confidence Level Decreased in June

According to the Conference Board of Canada, in May, 41 per cent of Québec consumers felt that the time was right to make a major purchase, such as a property. This represents a higher proportion than the …

June 15, 2018
Canadian Home Sales Drop Significantly in May
Canadian Home Sales Drop Significantly in May

According to the Canadian Real Estate Association (CREA), monthly home sales were down 16.2 per cent in May 2018 compared to the same month of last year. The average price for all residential MLS® properties …

June 8, 2018Unemployement Rate Decreases in Québec

According to Statistics Canada’s Labour Force Survey, 4,270,500 jobs (seasonally adjusted) were held in Québec in May 2018, which represents 5,000 more jobs than the previous month. Also, compared to May of last year, this …

June 8, 2018
Increase in Housing Starts in Québec in May 2018
Increase in Housing Starts in Québec in May 2018

According to preliminary data from the Canada Mortgage and Housing Corporation (CMHC), there were 3,421 housing starts in Québec centres with 10,000 or more inhabitants in May 2018. This represents a jump of 15 per …

June 6, 2018
The Real Estate Market Remained Very Active in May
The Real Estate Market Remained Very Active in May

The real estate market continued its momentum in May. Data from the real estate brokers’ Centris provincial database show that sales across Québec increased by 2% compared to May of last year. As has been …

May 22, 2018
Québec's Consumer Confidence Level Increased in May
Québec’s Consumer Confidence Level Increased in May

According to the Conference Board of Canada, in May, 42 per cent of Québec consumers felt that the time was right to make a major purchase, such as a property. This represents a higher proportion than the …

May 15, 2018
Canadian Home Sales Drop Significantly in April
Canadian Home Sales Drop Significantly in April

According to the Canadian Real Estate Association (CREA), monthly home sales were down 13.9 per cent in April 2018 compared to the same month of last year. The average price for all residential MLS® properties …

May 11, 2018
A Decrease of the Unemployment Rate in Quebec
A Decrease of the Unemployment Rate in Quebec

According to Statistics Canada’s Labour Force Survey, 4,265,800 jobs (seasonally adjusted) were held in Québec in April 2018, which represents 13,800 less jobs than the previous month. Also, compared to April of last year, this …

May 8, 2018
Strong Increase in Housing Starts in Québec in April 2018
Strong Increase in Housing Starts in Québec in April 2018

According to preliminary data from the Canada Mortgage and Housing Corporation (CMHC), there were 4,270 housing starts in Québec centres with 10,000 or more inhabitants in April 2018. This represents a jump of 36 per …

April 18, 2018
Bank of Canada maintains its key interest rate at 1.25 per cent
Bank of Canada maintains its key interest rate at 1.25 per cent

The Bank of Canada (BoC) announced today that it will maintain its key interest rate at 1.25 per cent. As the BoC points out, the slowdown in economic growth in the first quarter of 2018 is …

April 13, 2018
Canadian Home Sales Drop Significantly in March
Canadian Home Sales Drop Significantly in March

According to the Canadian Real Estate Association (CREA), monthly home sales were down 22,7 per cent in March 2018 compared to the same month of last year. This was the lowest level of sales for …

April 12, 2018
Québec's Consumer Confidence Increase in April
Québec’s Consumer Confidence Increase in April

According to the Conference Board of Canada, in April, 40 per cent of Québec consumers felt that the time was right to make a major purchase, such as a property. This represents a higher proportion than the …

April 10, 2018
Housing Starts Decreased Slightly in Québec in the First Quarter of 2018
Housing Starts Decreased Slightly in Québec in the First Quarter of 2018

According to preliminary data from the Canada Mortgage and Housing Corporation (CMHC), there were 6,839 housing starts in Québec centres with 10,000 or more inhabitants during the first quarter of 2018. This represents a drop …

April 6, 2018
An Increase of the Employment in Québec for the First Quarter of 2018
An Increase of the Employment in Québec for the First Quarter of 2018

According to Statistics Canada’s Labour Force Survey, 4,269,900 jobs (seasonally adjusted) were held in Québec during the first quarter of 2018, which represents 4,800 more jobs than in the previous quarter. Moreover, compared to the …

April 6, 2018
An Increase of the Employment in Québec
An Increase of the Employment in Québec

According to Statistics Canada’s Labour Force Survey, 4,279,600 jobs (seasonally adjusted) were held in Québec in March 2018, which represents 16,000 more jobs than the previous month. Also, compared to March of last year, this …

March 22, 2018
Québec's Consumer Confidence Level Held Steady in March
Québec’s Consumer Confidence Level Held Steady in March

According to the Conference Board of Canada, in March, 37 per cent of Québec consumers felt that the time was right to make a major purchase, such as a property. This represents the same proportion …

March 15, 2018
Canadian Home Sales Drop Significantly in February
Canadian Home Sales Drop Significantly in February

According to the Canadian Real Estate Association (CREA), monthly home sales were down 16.9 per cent in February 2018 compared to the same month of last year. This was the lowest level of sales for …

March 9, 2018
A Slight Increase of the Unemployment Rate in Québec
A Slight Increase of the Unemployment Rate in Québec

According to Statistics Canada’s Labour Force Survey, 4,263,600 jobs (seasonally adjusted) were held in Québec in February 2018, which represents 2,900 less jobs than the previous month. Also, compared to February of last year, this number …

March 8, 2018
Housing Starts Upward Trend Held Steady in February
Housing Starts Upward Trend Held Steady in February

According to preliminary data of the Canada Mortgage and Housing Corporation (CMHC), 2,437 housing starts were registered in Québec centres with 10,000 or more inhabitants in February. This number represents a 13 per cent increase compared …

March 7, 2018
Bank of Canada maintains its key interest rate at 1.25 per cent
Bank of Canada maintains its key interest rate at 1.25 per cent

The Bank of Canada (BoC) announced today that it will maintain its key interest rate at 1.25 per cent. As underlined by the BoC, strong housing data in late 2017, and softer data at the beginning …

February 21, 2018
Québec's Consumer Confidence Decreases Sharply in February
Québec’s Consumer Confidence Decreases Sharply in February

According to the Conference Board of Canada, in February, 37 per cent of Québec consumers felt that the time was right to make a major purchase, such as a property. This represents a 7 percentage …

February 15, 2018
Canadian home sales drop in January
Canadian home sales drop in January

According to the Canadian Real Estate Association (CREA), monthly home sales were down 2.4 % in January 2018 compared to January of last year. According to CREA’s President : “The piling on of yet more mortgage rule changes …

February 9, 2018
A Slight Increase of the Unemployment Rate in Québec
A Slight Increase of the Unemployment Rate in Québec

According to Statistics Canada’s Labour Force Survey, 4,266,500 jobs (seasonally adjusted) were held in Québec in January 2018, which represents 17,400 less jobs than the previous month. Also, compared to January of last year, this …

February 8, 2018
Housing Starts Upward Trend Held Steady in January
Housing Starts Upward Trend Held Steady in January

According to preliminary data of the Canada Mortgage and Housing Corporation (CMHC), 1,487 housing starts were registered in Québec centres with 10,000 or more inhabitants in January. This number represents a 6 per cent increase …

February 6, 2018
Residential Sales in Québec Jump by 10% in January
Residential Sales in Québec Jump by 10% in January

The real estate market in Québec remained very active in January, as sales of residential properties increased by 10 per cent compared to January 2017. These statistics come from the real estate brokers’ Centris® provincial …

January 23, 2018
Québec's Consumer Confidence Held Steady in January
Québec’s Consumer Confidence Held Steady in January

According to the Conference Board of Canada, in January, 44 per cent of Québec consumers felt that the time was right to make a major purchase, such as a property. This represents the same proportion …

January 17, 2018
Bank of Canada increases its Key Interest Rate at 1.25 Per Cent
Bank of Canada increases its Key Interest Rate at 1.25 Per Cent

The Bank of Canada (BoC) announced today that it will increase its key interest rate at 1.25 per cent. This decision follows two consecutive recent increases. Before the month of July, the key interest rate had …

January 15, 2018
Canadian home sales post solid gain in December
Canadian home sales post solid gain in December

According to the Canadian Real Estate Association (CREA), monthly home sales rose by 4.1 % in December 2017 compared to December of last year. According to CREA’s Chief Economist, national home sales in December were likely …

December 13, 2017
Record-Breaking Condominium Sales in Québec in November!
Record-Breaking Condominium Sales in Québec in November!

The province of Québec registered a seventh consecutive increase in residential sales in November. More than 6,380 transactions were concluded, a 9 per cent increase compared to November of last year. These figures come from the …

December 1, 2017
An Exceptionally Low Unemployment Rate in Québec
An Exceptionally Low Unemployment Rate in Québec

According to Statistics Canada’s Labour Force Survey, 4,259,000 jobs (seasonally adjusted) were held in Québec in November 2017, which represents 16,200 more jobs than the previous month. Also, compared to November of last year, this …

November 14, 2017
When real estate goes well, confidence goes well… and vice versa
When real estate goes well, confidence goes well… and vice versa

The job market, mortgage interest rates and the migration balance are often considered to be the main determinants of real estate market performance. However, one can question whether consumer confidence is a determinant of real …

November 8, 2017
Residential Housing Starts Trend Held Steady in October
Residential Housing Starts Trend Held Steady in October

According to preliminary data from the Canada Mortgage and Housing Corporation (CMHC), 4,604 housing starts were registered in Québec centers with 10,000 or more inhabitants during the month of October 2017. This number represents an …

November 6, 2017
Vibrant Residential Real Estate Market in October
Vibrant Residential Real Estate Market in October

Continuing its momentum from the last few months, the province of Québec registered 6,312 residential sales in October 2017, which represents a 7 per cent increase compared to October of last year. These figures come from …

November 2, 2017
Québec Posts a Slight Increase in its Homeownership Rate
Québec Posts a Slight Increase in its Homeownership Rate

On October 25, Statistics Canada released 2016 Census data on Canada’s homeownership rates. With a homeownership rate of 61.3 per cent in 2016, Québec registered an increase over the last ten years, while Ontario, British …

October 30, 2017
“Stress Test” Will be Extended to Uninsured Mortgages as of January 1, 2018
“Stress Test” Will be Extended to Uninsured Mortgages as of January 1, 2018

On July 7, the Office of the Superintendent of Financial Institutions (OSFI) submitted for consultation a new version of Guideline B-20, which encompasses the practices and procedures for residential mortgage underwriting that apply to all …

October 26, 2017
Increase in the Benchmark Rate Used for Mortgage Rate Stress Tests
Increase in the Benchmark Rate Used for Mortgage Rate Stress Tests

On October 25, the Bank of Canada’s benchmark interest rate rose from 4.89 per cent to 4.99 per cent. This rate is used as the minimum rate to determine if new borrowers qualify. You may …

September 27, 2017
One Property in Twelve Sold at a Higher Price
One Property in Twelve Sold at a Higher Price

The mid-year report revealed a rather dynamic Québec real estate market with rising sales, accelerated price growth and slightly tighter market conditions. In general, when market conditions are tighter and tend to favour sellers, properties …

September 26, 2017
1 in 25 Condominiums Sold Over the Asking Price
1 in 25 Condominiums Sold Over the Asking Price

Following my post regarding sales above the list price for single-family homes, today, I would like to provide you with some statistics relating to condominiums. I have excluded new constructions from my calculations, since I …

September 26, 2017
Plexes – It’s Not Complex
Plexes – It’s Not Complex

Following the articles on sales of single-family homes and condominiums above the asking price, here are some interesting statistics and facts regarding plexes. In the first six months of 2017, 297 small income properties were …

September 22, 2017
Using the Municipal Assessment to Determine the Selling Price of a Property: a Good Idea?
Using the Municipal Assessment to Determine the Selling Price of a Property: a Good Idea?

You are no doubt aware that there can sometimes be a significant difference between the municipality’s assessed value of a property and its market value. But how do you convince your clients that they should …

September 15, 2017
Residential Sales Across Québec Were Up 6% in the 1st quarter of 2017
Residential Sales Across Québec Were Up 6% in the 1st quarter of 2017

Despite the mortgage tightening measures in effect since last fall, the year 2017 got off to a good start as residential sales across Québec were up 6 per cent in the first quarter, as compared …