Good Afternoon,
I hope you and your family are having a wonderful summer!
A few things to share this week:
I came across the article (below) in the Financial Post today and thought you may want to share it with your clients. It speaks to a balanced housing market and a softer landing for house prices in BC and Canada which is all very good news. I have also included some updated housing price stats as well as 12 tasks to do before noon to be super productive!
Canada Mortgage and Housing Corp. is forecasting a moderate slowdown in new-home construction starts as well as sales of existing housing.
The Ottawa-based federal agency isn’t calling for a major decline, but its latest forecast suggests next year will be somewhat softer than estimates CMHC issued in June while 2012 may be somewhat stronger than previously expected.
CMHC has been saying for some time that it expects housing prices in most local markets will grow more slowly than they have been recently.
It says housing starts and home sales have been strong in 2012 — particularly when it comes to multiple-dwelling units such as condos and apartments — but will soften moderately in coming months into 2013.
“Balanced market conditions in most local housing markets will result in a slowing in house price growth as well,” Mathieu Laberge, CMCH’s deputy chief economist, said in an outlook released Tuesday.
CMHC provides various levels of mortgage insurance to protect lenders from defaults by home buyers. It also closely monitors residential construction activity and housing sales and provides outlooks used by various sectors of the economy.
In the latest forecast, CMHC estimates there will be between 196,800 and 217,000 units of housing started in 2012, with a point forecast of 207,200 units.
The point forecast is slightly higher than an estimate of 202,700 issued by CMHC in June, when the range was wider at between 182,300 to 220,600.
In 2013, CMHC now estimates housing starts will be in the range of 173,000 to 207,400 units, with a point forecast of 193,100 units — about seven per cent fewer than this year under the latest forecast.
The previous 2013 point forecast for 195,700 housing starts.
Based on data compiled by the Canadian Real Estate Association, CMHC said Tuesday that it expects about 466,600 units of existing housing to be sold this year and 469,600 units in 2013.
The average price for property sales through CREA members is forecast to be between $351,300 and $378,400 in 2012 and between $358,000 and $395,800 in 2013, CMHC said Tuesday.
CMHC’s point forecast for the average price is now $368,000 for 2012 and $377,300 for 2013, the agency said Tuesday Its June was the average price to be $372,700 for 2012 and $383,600 for 2013. Financial Post Aug 14, 2012
Total New Housing Starts (Seasonally adjusted and annualized)
Province April
2012 April
2011 May
2012 May
2011 June
2012 June
2011
Newfoundland/Labrador 4,600 2,300 4,500 3,700 4,700 5,800
PEI 1,200 700 700 900 1,300 800
Nova Scotia 3,200 3,900 4,400 4,400 4,100 4,000
New Brunswick 2,500 2,500 4,700 3,400 5,400 4,500
Quebec 62,600 45,100 42,000 50,500 48,100 48,200
Ontario 98,400 67,600 80,300 53,000 73,300 75,800
Manitoba 5,100 4,800 12,200 6,300 5,000 5,400
Saskatchewan 11,100 5,900 6,900 5,200 10,800 8,700
Alberta 39,400 21,400 33,400 24,300 33,500 24,100
British Columbia 23,900 24,500 28,300 31,900 36,500 23,500
CANADA 252,000 178,700 217,400 183,600 222,700 200,800
Source: CMHC Housing Now - July 2011 and July 2012. This seasonally adjusted data goes through stages of revision at different times of the year.
Top of Page
________________________________________
Average MLS® Resale Price for Local Markets
City June 2011 June 2012
Halifax $ 269,605 $ 272,495
Saint John $ 168,830 $ 163,468
Quebec $ 245,158 $ 263,740
Montreal $ 323,926 $ 336,054
Ottawa $ 354,524 $ 354,690
Toronto $ 476,386 $ 508,622
Hamilton/Burlington $ 339,828 $ 363,162
Winnipeg $ 243,977 $ 257,095
Saskatoon $ 299,572 $ 287,355
Regina $ 285,613 $ 312,241
Calgary $ 412,016 $ 422,139
Edmonton $ 328,695 $ 340,391
Vancouver $ 808,867 $ 701,141
Victoria $ 507,385 $ 486,611
Source: Canadian Real Estate Association
Quarterly Housing Price Index
Standard Two-Storey
Market Q2 2012 Average Last Quarter Avg Q2 2011 Average 2 Storey % Change
Halifax 317,167 306,667 301,667 5.1%
Charlottetown 203,000 200,000 197,000 3.0%
Moncton 138,000 134,800 137,500 0.4%
Fredericton 215,000 208,000 208,000 3.4%
Saint John 279,770 293,250 299,750 -6.7%
St. John's 368,025 350,500 336,667 9.3%
Montreal 384,804 387,429 379,529 1.4%
Ottawa 392,000 387,833 371,500 5.5%
Toronto 668,829 645,467 623,202 7.3%
Winnipeg 321,875 309,250 307,375 4.7%
Regina 347,500 299,000 325,000 6.9%
Saskatoon 379,500 372,250 353,750 7.3%
Calgary 425,456 418,233 415,200 2.5%
Edmonton 353,764 354,714 349,286 1.3%
Vancouver 1,178,750 1,182,250 1,114,500 5.8%
Victoria 461,000 459,000 477,000 -3.4%
National 408,423 398,282 390,163 4.7%
Detached Bungalows
Market Q2 2012 Average Last Quarter Avg Q2 2011 Average Bungalow % Change
Halifax 285,833 273,333 266,333 7.3%
Charlottetown 172,000 170,000 165,000 4.2%
Moncton 144,000 145,700 157,500 -8.6%
Fredericton 205,000 205,000 201,000 2.0%
Saint John 175,037 191,000 179,950 -2.7%
St. John's 275,625 262,500 245,333 12.3%
Montreal 281,161 286,000 279,714 0.5%
Ottawa 388,917 385,667 370,750 4.9%
Toronto 560,187 544,450 517,100 8.3%
Winnipeg 304,250 283,375 281,125 8.2%
Regina 320,500 316,500 313,000 2.4%
Saskatoon 351,125 338,750 331,250 6.0%
Calgary 432,322 422,989 411,711 5.0%
Edmonton 327,857 324,143 312,000 5.1%
Vancouver 1,087,125 1,068,500 1,025,250 6.0%
Victoria 460,000 470,000 475,000 -3.2%
National 379,311 356,306 356,625 5.5%
Source: Royal LePage, July 2012
Jared Dreyer
Your Mortgage Professional
604 649-5991
www.dreyergroup.ca
jared@dreyergroup.ca
________________________________________
About Dreyer Group Smiles
Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth in the Fraser Valley of British Columbia. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.
Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.
About Dreyer Group Mortgages, A Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients throughout the Lower Mainland, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business.
Copywrite © 2008
REFINANCING RATES or
NEW HOME PURCHASE
2.99 % 5 Year Fixed Rate
3.89% 10 Year Fixed Rate
LIMITED TIME - SPECIAL CONDITIONS APPLY - CALL 604 536-3802 to Book
More Rates
Email me now with the next person you know that needs financing
All rates quoted are on approved credit.
12 Tasks Killer Productive People do Before Noon
1. They make a work to-do list the day before.
2. They get a full night's rest.
3. They avoid hitting snooze.
4. They exercise in the morning.
5. They practice a morning ritual.
6. They eat breakfast.
7. They arrive at the office on time.
8. They check in with their boss and/or employees.
9. They tackle the big projects first.
10. They avoid morning meetings to keep their most productive time for work .
11. They allot time for following up on messages and proactive calls.
12. They take a mid-morning break.
Download Dreyer Group on Your Hand-held
Mortgage Payment Calculator
Income Qualifier
Purchase Finance Calculator
Get an Instant Hold and Quote for Your Client
Access Quick App to get your clients approval going
Blackberry and iPhone compatible.
Simply link here
Follow me on twitter
Follow my financial blog
Follow me on Facebook
Good Afternoon,
I hope you and your family are having a wonderful summer!
A few things to share this week:
I came across the article (below) in the Financial Post today and thought you may want to share it with your clients. It speaks to a balanced housing market and a softer landing for house prices in BC and Canada which is all very good news. I have also included some updated housing price stats as well as 12 tasks to do before noon to be super productive!
Canada Mortgage and Housing Corp. is forecasting a moderate slowdown in new-home construction starts as well as sales of existing housing.
The Ottawa-based federal agency isn’t calling for a major decline, but its latest forecast suggests next year will be somewhat softer than estimates CMHC issued in June while 2012 may be somewhat stronger than previously expected.
CMHC has been saying for some time that it expects housing prices in most local markets will grow more slowly than they have been recently.
It says housing starts and home sales have been strong in 2012 — particularly when it comes to multiple-dwelling units such as condos and apartments — but will soften moderately in coming months into 2013.
“Balanced market conditions in most local housing markets will result in a slowing in house price growth as well,” Mathieu Laberge, CMCH’s deputy chief economist, said in an outlook released Tuesday.
CMHC provides various levels of mortgage insurance to protect lenders from defaults by home buyers. It also closely monitors residential construction activity and housing sales and provides outlooks used by various sectors of the economy.
In the latest forecast, CMHC estimates there will be between 196,800 and 217,000 units of housing started in 2012, with a point forecast of 207,200 units.
The point forecast is slightly higher than an estimate of 202,700 issued by CMHC in June, when the range was wider at between 182,300 to 220,600.
In 2013, CMHC now estimates housing starts will be in the range of 173,000 to 207,400 units, with a point forecast of 193,100 units — about seven per cent fewer than this year under the latest forecast.
The previous 2013 point forecast for 195,700 housing starts.
Based on data compiled by the Canadian Real Estate Association, CMHC said Tuesday that it expects about 466,600 units of existing housing to be sold this year and 469,600 units in 2013.
The average price for property sales through CREA members is forecast to be between $351,300 and $378,400 in 2012 and between $358,000 and $395,800 in 2013, CMHC said Tuesday.
CMHC’s point forecast for the average price is now $368,000 for 2012 and $377,300 for 2013, the agency said Tuesday Its June was the average price to be $372,700 for 2012 and $383,600 for 2013. Financial Post Aug 14, 2012
Total New Housing Starts (Seasonally adjusted and annualized)
Province April
2012 April
2011 May
2012 May
2011 June
2012 June
2011
Newfoundland/Labrador 4,600 2,300 4,500 3,700 4,700 5,800
PEI 1,200 700 700 900 1,300 800
Nova Scotia 3,200 3,900 4,400 4,400 4,100 4,000
New Brunswick 2,500 2,500 4,700 3,400 5,400 4,500
Quebec 62,600 45,100 42,000 50,500 48,100 48,200
Ontario 98,400 67,600 80,300 53,000 73,300 75,800
Manitoba 5,100 4,800 12,200 6,300 5,000 5,400
Saskatchewan 11,100 5,900 6,900 5,200 10,800 8,700
Alberta 39,400 21,400 33,400 24,300 33,500 24,100
British Columbia 23,900 24,500 28,300 31,900 36,500 23,500
CANADA 252,000 178,700 217,400 183,600 222,700 200,800
Source: CMHC Housing Now - July 2011 and July 2012. This seasonally adjusted data goes through stages of revision at different times of the year.
Top of Page
________________________________________
Average MLS® Resale Price for Local Markets
City June 2011 June 2012
Halifax $ 269,605 $ 272,495
Saint John $ 168,830 $ 163,468
Quebec $ 245,158 $ 263,740
Montreal $ 323,926 $ 336,054
Ottawa $ 354,524 $ 354,690
Toronto $ 476,386 $ 508,622
Hamilton/Burlington $ 339,828 $ 363,162
Winnipeg $ 243,977 $ 257,095
Saskatoon $ 299,572 $ 287,355
Regina $ 285,613 $ 312,241
Calgary $ 412,016 $ 422,139
Edmonton $ 328,695 $ 340,391
Vancouver $ 808,867 $ 701,141
Victoria $ 507,385 $ 486,611
Source: Canadian Real Estate Association
Quarterly Housing Price Index
Standard Two-Storey
Market Q2 2012 Average Last Quarter Avg Q2 2011 Average 2 Storey % Change
Halifax 317,167 306,667 301,667 5.1%
Charlottetown 203,000 200,000 197,000 3.0%
Moncton 138,000 134,800 137,500 0.4%
Fredericton 215,000 208,000 208,000 3.4%
Saint John 279,770 293,250 299,750 -6.7%
St. John's 368,025 350,500 336,667 9.3%
Montreal 384,804 387,429 379,529 1.4%
Ottawa 392,000 387,833 371,500 5.5%
Toronto 668,829 645,467 623,202 7.3%
Winnipeg 321,875 309,250 307,375 4.7%
Regina 347,500 299,000 325,000 6.9%
Saskatoon 379,500 372,250 353,750 7.3%
Calgary 425,456 418,233 415,200 2.5%
Edmonton 353,764 354,714 349,286 1.3%
Vancouver 1,178,750 1,182,250 1,114,500 5.8%
Victoria 461,000 459,000 477,000 -3.4%
National 408,423 398,282 390,163 4.7%
Detached Bungalows
Market Q2 2012 Average Last Quarter Avg Q2 2011 Average Bungalow % Change
Halifax 285,833 273,333 266,333 7.3%
Charlottetown 172,000 170,000 165,000 4.2%
Moncton 144,000 145,700 157,500 -8.6%
Fredericton 205,000 205,000 201,000 2.0%
Saint John 175,037 191,000 179,950 -2.7%
St. John's 275,625 262,500 245,333 12.3%
Montreal 281,161 286,000 279,714 0.5%
Ottawa 388,917 385,667 370,750 4.9%
Toronto 560,187 544,450 517,100 8.3%
Winnipeg 304,250 283,375 281,125 8.2%
Regina 320,500 316,500 313,000 2.4%
Saskatoon 351,125 338,750 331,250 6.0%
Calgary 432,322 422,989 411,711 5.0%
Edmonton 327,857 324,143 312,000 5.1%
Vancouver 1,087,125 1,068,500 1,025,250 6.0%
Victoria 460,000 470,000 475,000 -3.2%
National 379,311 356,306 356,625 5.5%
Source: Royal LePage, July 2012
Jared Dreyer
Your Mortgage Professional
604 649-5991
www.dreyergroup.ca
jared@dreyergroup.ca
________________________________________
About Dreyer Group Smiles
Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth in the Fraser Valley of British Columbia. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.
Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.
About Dreyer Group Mortgages, A Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients throughout the Lower Mainland, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business.
Copywrite © 2008
REFINANCING RATES or
NEW HOME PURCHASE
2.99 % 5 Year Fixed Rate
3.89% 10 Year Fixed Rate
LIMITED TIME - SPECIAL CONDITIONS APPLY - CALL 604 536-3802 to Book
More Rates
Email me now with the next person you know that needs financing
All rates quoted are on approved credit.
12 Tasks Killer Productive People do Before Noon
1. They make a work to-do list the day before.
2. They get a full night's rest.
3. They avoid hitting snooze.
4. They exercise in the morning.
5. They practice a morning ritual.
6. They eat breakfast.
7. They arrive at the office on time.
8. They check in with their boss and/or employees.
9. They tackle the big projects first.
10. They avoid morning meetings to keep their most productive time for work .
11. They allot time for following up on messages and proactive calls.
12. They take a mid-morning break.
Download Dreyer Group on Your Hand-held
Mortgage Payment Calculator
Income Qualifier
Purchase Finance Calculator
Get an Instant Hold and Quote for Your Client
Access Quick App to get your clients approval going
Blackberry and iPhone compatible.
Simply link here
Follow me on twitter
Follow my financial blog
Follow me on Facebook
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