Housing Stats

Looking to buy or sell a house in Canada? Curious about what the market is doing? Here are some numbers and trends to help your dwelling decisions.

May 17, 2023

Canadian Housing Trends: Graphs and Resources

Learn if the housing industry and economic conditions are favouring buyers or sellers and whether home prices and sales are trending up or down.

The Canadian Real Estate Association (CREA) website gathers housing data for our nation with several reference points and opinions as to what the statistics are really saying.

The Canada Mortgage and Housing Corporation (CMHC) website also offers insight and various reports into past and future housing trends. For example, they recently released a research survey showing that 44% of first-time buyers use a mortgage broker, up from 35%. Canadians are getting smarter when it comes to saving money on their rates and mortgages!

Plus, follow the links (below graphs) to check with your local real estate governing bodies and associations for area-specific information.

Northwest Territories, Nunavut, Yellowknife: https://www.cmhc-schl.gc.ca/en...

Mortgage Rate Resources

At True North Mortgage, we frequent Bank of Canada's website, particularly the bond trading prices.

HOW ARE MORTGAGE RATES SET?

For variable rates, the Bank of Canada sets the policy rate that banks use to set their variable mortgage rates (not including lender discounts offered).

Fixed rates are mainly influenced by Government of Canada 5-year bond yields which are used by banks to set their 5-year fixed rates (and other term lengths). If bond yields go up, 5-year fixed mortgage rates will typically soon follow.

Read more here to learn how to watch bond yields to see where fixed rates are going.

Do the numbers tell the whole story?

Understanding the housing stats in your area and across Canada can help you make informed buying and selling decisions.

There may also be up and coming regulations or rate decisions to keep in mind.

Your home affordability is a factor, too. Our highly trained brokers can outline your numbers and offer effective financial strategies to time your move — and get your best rate and mortgage fit to help you save thousands.