Sharp, deep, and unprecedented – The Conference Board of Canada releases its Provincial Economic Outlook

With the advent of the COVID-19 pandemic, Canada is in the midst of an economic downturn, unlike anything most of us have ever experienced. The Conference Board of Canada’s Provincial Economic Outlook – Preliminary Forecast Spring 2020 shows that Canadian real GDP will drop by 25 per cent in the second quarter. This will be the steepest…

Mortgage Deferrals in Canada Reach Half a Million

Banks in Canada last month announced plans to provide financial relief to Canadians impacted by the economic consequences of COVID 19. Banks assembled quickly and made a commitment to work with their customers to provide flexible solutions to help them manage through financial hardship. This support includes up to a six-month payment deferral for mortgages. Almost 500,000…

Canadian home sales and listings down in March

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and listings were down sharply between February and March 2020.   Highlights: Monthly home sales (CNW Group/Canadian Real Estate Association) National home sales fell 14.3% on a month-over-month (m-o-m) basis in March. Actual (not seasonally adjusted) activity was up 7.8% year-over-year (y-o-y)….