{"id":31057,"date":"2018-02-15T09:17:11","date_gmt":"2018-02-15T14:17:11","guid":{"rendered":"http:\/\/olduvai.ca\/?p=31057"},"modified":"2018-02-15T09:17:11","modified_gmt":"2018-02-15T14:17:11","slug":"canadian-existing-home-sales-crash-in-january","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=31057","title":{"rendered":"Canadian Existing Home Sales Crash In January"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-02-15\/canadian-existing-home-sales-crash-january\"><span class=\"field field--name-title field--type-string field--label-hidden\">Canadian Existing Home Sales Crash In January<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\">\n<footer class=\"node__meta\">\n<div class=\"submission-wrapper\"><\/div>\n<div class=\"a2a_kit a2a_kit_size_32 a2a_default_style\" data-a2a-icon-color=\"#222\">\n<div><\/div>\n<\/div>\n<\/footer>\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>After five straight months of acceleration, January saw <strong>Canadian existing home sales crash 14.5% &#8211; the biggest drop on record&#8230;<\/strong><\/p>\n<p><strong>Home prices rose 2,3% over the past 12 months,<\/strong> but it appears a sudden close-eye on Chinese buyers has hit the market hard as <strong>Toronto home sales crashed a stunning 27% from December (prices down 4.4% YoY) and Vancouver sales down 10.5% MoM (prices up 18.1% YoY)<\/strong>.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-02-15_6-02-02.jpg?itok=Mxhoec1O\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/2018-02-15_6-02-02.jpg?itok=Mxhoec1O\" data-link-option=\"0\"><img decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-02-15_6-02-02.jpg?itok=Mxhoec1O\" \/><\/a><\/p>\n<p>Canadian existing home sales are down 2.4% YoY.<\/p>\n<p>Must be the weather, right?<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/news\/2018-02-09\/oh-canada-part-time-jobs-crash-most-history\">This comes less than a week after horrific jobs data struck Canada <\/a>&#8211; thanks to minimum wage-hikes.<\/p>\n<p>The Canadian job market has never lost more part-time jobs &#8211; ever &#8211; than in January&#8230;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-02-09_5-32-20.jpg\" \/><\/p>\n<p>As a reminder, The Bank of Canada hiked &#8216;dovishly&#8217; in January&#8230;<\/p>\n<blockquote><p>The BOC also noted that &#8220;while the economic outlook is expected to warrant higher interest rates over time,\u00a0<strong>some continued monetary policy accommodation will likely be needed to keep the economy operating close to potential and inflation on target<\/strong>.&#8221;<\/p><\/blockquote>\n<p>We suspect that hike-trajectory may slow further.<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Canadian Existing Home Sales Crash In January After five straight months of acceleration, January saw Canadian existing home sales crash 14.5% &#8211; the biggest drop on record&#8230; Home prices rose 2,3% over the past 12 months, but it appears a sudden close-eye on Chinese buyers has hit the market hard as Toronto home sales crashed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[942,103,18592,2340,4318],"class_list":["post-31057","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-canada","tag-canada","tag-existing-home-sales","tag-housing-market","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31057"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31057\/revisions"}],"predecessor-version":[{"id":31058,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31057\/revisions\/31058"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}