{"id":184609,"date":"2018-09-04T12:56:19","date_gmt":"2018-09-04T16:56:19","guid":{"rendered":"https:\/\/www.livabl.com\/articles\/?p=184609"},"modified":"2018-09-04T12:56:19","modified_gmt":"2018-09-04T16:56:19","slug":"according-bank-canadian-housing-market-finally-stabilized","status":"publish","type":"post","link":"https:\/\/www.livabl.com\/articles\/archives\/according-bank-canadian-housing-market-finally-stabilized","title":{"rendered":"According to this bank, the Canadian housing market has finally stabilized"},"content":{"rendered":"<h4 id='pressboard-ad-sponsorship-tag' style='margin-bottom: 35px;'><\/h4><p><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2018\/02\/toronto-new-home-compressed.jpg\" rel=\"lightbox[184609]\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2018\/02\/toronto-new-home-compressed.jpg\" alt=\"\" width=\"1024\" height=\"683\" class=\"aligncenter size-full wp-image-176757\" \/><\/a><\/p>\n<p><em>Photo: James Bombales<\/em><\/p>\n<p>After a first quarter of month-over-month home sales declines, the second quarter of 2018 brought some relief for the Canadian housing market, with a jump in activity in both June and July.<\/p>\n<p>Now, the TD Economics team is saying that the market may have balanced out heading into the fall.<\/p>\n\n<p>\u201cNotably, the housing market has attained a modicum of stability,\u201d they write, in a recent note.<\/p>\n<p>The team predicts that the Q2 jump in home sales could cause the Bank of Canada (BoC) to hike the overnight rate in October. The Bank hiked the rate to 1.50 per cent in July, and is widely expected to do so again before the end of the year.<\/p>\n<p>\u201cResidual expectations for a September rate hike almost entirely disappeared after the slightly below consensus reading on Q2 GDP, but markets are still firmly anchored around tightening in October,\u201d writes the team. <\/p>\n<p>Last week, TD economists Derek Burleton and Rishi Sondhi noted that, heading into the second half of 2018, strong economic conditions should bolster housing markets across the country.<\/p>\n<div class=\"see-more-link\"><img decoding=\"async\" alt=\"See Also\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/themes\/livabl\/images\/see-also-cta-icon.svg\"\/>\r\n          <strong><span>SEE ALSO:<\/span><a href=\"https:\/\/www.livabl.com\/articles\/2018\/09\/watch-canadian-housing-market-september-according-experts.html\"  area-label=\"What to watch for in the Canadian housing market this September, according to experts\">What to watch for in the Canadian housing market this September, according to experts<\/a><\/strong>\r\n        <\/div>\n<p>\u201cSales and prices should gain traction across most major markets as the year continues to roll forward, as the effects of [new mortgage rules] fade away,\u201d they wrote.<\/p>\n<p>They added that the market seems to be responding in \u201ctextbook fashion\u201d to the mortgage stress test introduced in January, which many economists had predicted would have only a temporary dampening effect on housing activity.<\/p>\n<p>\u201cOur longstanding view has been that Canada\u2019s major housing markets would regain traction after the initial sharp knee-jerk policy adjustments,\u201d they wrote. \u201cPast experience has shown that markets begin to stabilize after about 4-6 months following the implementation of major changes to housing policy.\u201d<\/p>\n<div id='pressboard-ad-sponsorship-msg'><\/div>\n","protected":false},"excerpt":{"rendered":"<p>After a first quarter of month-over-month home sales declines, the second quarter of 2018 brought some relief for the Canadian housing market, with a jump in activity in both June and July. <\/p>\n","protected":false},"author":31,"featured_media":176757,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11269],"tags":[],"coauthors":[9678],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - 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