This Week’s Top Stories: Canadian Real Estate Sees Inventory Surges, & Condo Prices Double Dip

Title: Canadian Real Estate Inventory Grows More Than 2x The Rate of Sales

In Canada, housing inventory has grown at more than twice the rate of sales in recent months. As a result, property prices have begun to fall across many cities. This has been accompanied by an increase in mortgage delinquencies, as homeowners struggle with the increased costs of homeownership. The Bank of Canada has already implemented several interest rate hikes this year and is expected to do so again later this month, further impacting the housing market.