Here’s a quick summary of the latest findings which look at the impact of the stress test on home sales and the price of homes over the past year as well as the current state of awareness among customers.
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At first glance, I would say “decent” at best. At second glance, I’d actually say it is vastly underwhelming. The feds have announced 2 main policies around home ownership:
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The Canadian Real Estate Association (CREA) reported this month that national home sales fell by nearly 9% from January to February. 75% of local markets, including major cities, recorded fewer transactions. This is not the first time a steep month on month decline has been reported. In January 2018, home sales dropped when the mortgage stress test came into effect.
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