The Toronto skyline in Canada

Canada Home Prices Index (ann. var. %)

GDP expanded 0.1% month on month in October–November, with strong services-sector growth partially offset by contractions in the industrial sector. Moreover, Statistical Office preliminary data suggests that activity was flat in December, putting the quarter-on-quarter expansion for Q4 as a whole at 0.4%. Turning to this year, the economy appears resilient; in January, employment growth far outpaced market expectations and the manufacturing PMI rose back into expansionary territory. Moreover, the Central Bank likely ended its tightening cycle in January, which should support sentiment and limit the hit to demand ahead. However, the housing sector remains in the doldrums due to past interest rate hikes, with housing starts and home sales slumping in January.

Canada Home Prices Index (ann. var. %) Data

2017 2018 2019 2020 2021
Home Prices Index (ann. var. %) 11.9 3.7 1.2 6.5 15.0

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