12 Sep Montreal Real Estate Stories September 2018
Montreal Real Estate Stories September 2018
How was the Montreal real estate market in August 2018? The short answer is the market held it’s own. Despite lower inventories, sales of condominiums increased by 12% compared to this time last year while sales of single family homes rose 5%. The largest increase in sales was in the plexes categories. Read the Centris Report below to view all the numbers.
As for the full picture across some of the major markets across Canada, the National Bank Housing Index gives us a snapshot of Toronto, Vancouver, Ottawa and other cities in Canada. Ten of the eleven metropolitan areas recorded increases in the month with Montreal being somewhat in the middle of the spectrum. Read the full Teranet-National Bank House Price Index Report below:
Watch the Centris Video on the Montreal Real Estate Market Sales for August 2018
Uploaded by CIGM GMREB on 2018-09-11.
The Bank of Canada held it’s key interest rate at 1.5% but is expected to gradualy hike rates. The next rate announcement is expected on October 24th.
Here’s the Bank of Canada’s official statement for its interest rate decision on Wednesday, September 5, 2018: The Bank of Canada today maintained its target for the overnight rate at 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent.