North American Housing Update
To ensure your domestic transferees receive benefits that are aligned to market conditions, AIRINC has just released updated rental and home purchase data across North America. Regular data reviews are implemented to calculate domestic allowance payments including Mortgage Subsidies, Cost of Living and Lump Sums.
Market Insights: Home Purchase
Canada:House prices in Canada were mixed over the past months, with some markets flat as economic uncertainty cooled demand. In some cities, prices are still rising buoyed by investors and those tired of waiting to buy.
USA: There is a chronic under-supply of houses, particularly in major job centers. High costs for materials and labor also continue to put upwards pressure on sales prices. Most cities saw increases in purchase costs.
Constant / about the same
Barrie ON, Canada
Burlington ON, Canada
Calgary AB, Canada
Montreal QC, Canada
Phoenix AZ, U.S.A.
Raleigh NC, U.S.A.
San Diego CA, U.S.A.
Toronto ON, Canada
Tucson AZ, U.S.A.
Vancouver BC, Canada
Highest Increases
Baltimore MD, U.S.A.
Chicago IL, U.S.A.
Edmonton AB, Canada
Halifax NS, Canada
Indianapolis IN, U.S.A.
Kelowna BC, Canada
Minneapolis MN, U.S.A.
New York NY, U.S.A.
Philadelphia PA, U.S.A.
Quebec QC, Canada
Regina SK, Canada
San Francisco CA, U.S.A.
Saskatoon SK, Canada
Seattle WA, U.S.A.
Slight Increases
Atlanta GA, U.S.A.
Bellingham WA, U.S.A.
Cambridge ON, Canada
Charlotte NC, U.S.A.
Dallas TX, U.S.A.
Denver CO, U.S.A.
Houston TX, U.S.A.
Los Angeles CA, U.S.A.
St. John's NL, Canada
Wilmington NC, U.S.A.
Winnipeg MB, Canada
Decreases
Carlsbad CA, U.S.A.
Red Deer AB, Canada
Market Insights: Rent
Canada: Rental prices are mostly flat or falling in major Canadian cities primarily due to an increase in the supply of rental units and a decrease in demand caused by slower population growth from reduced immigration and a weaker job market.
U.S.A.: Rental prices are falling in some U.S. cities due to an oversupply of new apartment units. In major job centers with a strong economy, rents are rising with higher demand. Many of these same cities have had less new construction as they have less land available for development.
Constant / about the same
Atlanta GA, U.S.A.
Barrie ON, Canada
Burlington ON, Canada
Calgary AB, Canada
Cambridge ON, Canada
Charlotte NC, U.S.A.
Dallas TX, U.S.A.
Edmonton AB, Canada
Halifax NS, Canada
Houston TX, U.S.A.
Kamloops BC, Canada
Kelowna BC, Canada
Montreal QC, Canada
Philadelphia PA, U.S.A.
Quebec QC, Canada
Red Deer AB, Canada
Regina SK, Canada
San Diego CA, U.S.A.
Saskatoon SK, Canada
Seattle WA, U.S.A.
Sudbury ON, Canada
Winnipeg MB, Canada
Highest Increases
St. John's NL, Canada
Slight Increases
Albany NY, U.S.A.
Baltimore MD, U.S.A.
Bartlesville OK, U.S.A.
Bellingham WA, U.S.A.
Chicago IL, U.S.A.
Indianapolis IN, U.S.A.
Lake Charles LA, U.S.A.
Los Angeles CA, U.S.A.
Minneapolis MN, U.S.A.
New York NY, U.S.A.
San Francisco CA, U.S.A.
Decreases
Denver CO, U.S.A.
Phoenix AZ, U.S.A.
Toronto ON, Canada
Tucson AZ, U.S.A.
Vancouver BC, Canada