
US Service Gauge Tops Estimates in Biggest Advance Since 2020
A gauge of US services snapped back in January after an end-of-2022 slump, suggesting a resurgence in consumer demand that leans against concerns of an imminent economic slowdown.
Latest Videos
The information you requested is not available at this time, please check back again soon.
A gauge of US services snapped back in January after an end-of-2022 slump, suggesting a resurgence in consumer demand that leans against concerns of an imminent economic slowdown.
Sales in the Toronto housing market ground to the slowest pace since the first month of the pandemic as buyers contend with some of the highest borrowing costs they’ve seen in 15 years.
The Bank of England’s top two policy makers signaled that the most aggressive tightening cycle in three decades may be nearing an end.
China’s real estate market is in an unresolved crisis and Beijing needs to do more to support the sector, the International Monetary Fund said, earning a sharp rebuke from Beijing.
Norway’s unemployment rate matched the lowest level in 14 years, indicating labor market strength that could convince the central bank to raise rates more than previously expected.
Jan 5, 2023
The Canadian Press
The Quebec Professional Association of Real Estate Brokers says home sales in Montreal last month fell 39 per cent from a year earlier to a level not seen in December since 2014.
The real estate organization says sales for the month amounted to 2,232 and contributed to a 2022 sales total of 21,371, 20 per cent below 2021.
The board says it's typical for December to bring fewer sales and new listings, but the 2,359 properties that hit the Montreal market last month was a level not seen since 2002.
New listings in the month represented a seven per cent decline from the year before, but 2022 still saw two per cent more new properties on the market than in 2021.
Median prices for single-family homes fell three per cent from the year before to $510,000, while condos edged down one per cent to $375,000 and plexes sank six per cent to $690,000.
Charles Brant, director of the association's market analysis department, says the figures reflect the market's "wait-and-see attitude."
"On the one hand, buyers are hoping that market conditions will improve in their favour. Sellers, on the other hand, are hoping for a stabilization of the market," he says, in a release.
"Active listings continue to rise significantly due to a build-up effect, which could help to vindicate buyers in the coming months."
This report by The Canadian Press was first published Jan. 5, 2023.