The slowdown in Canadian housing continued in July

Existing home sales fell 3.5% on a month-over-month basis in July, marking the smallest of the four consecutive declines since March.

Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 3.5% nationally from June to July 2021—the fourth consecutive monthly decline. Over the same period, the number of newly listed properties dropped 8.8%, and the MLS Home Price Index rose 0.6% and was up 22.2% year-over-year.

Canadian inflation hits highest reading in two decades

Annual inflation hits 3.7% in Canada—a new election issue.

This morning’s Statistics Canada release showed that the July CPI surged to a 3.7% year-over-year pace, well above the 3.1% pace recorded in June. This is now the fourth consecutive month in which inflation is above the 1% to 3% target band of the Bank of Canada. And given the flash election, opposition parties are already making hay. “The numbers released today make it clear that under Justin Trudeau, Canadians are experiencing a cost of living crisis,” Conservative leader Erin O’Toole said in a statement.

Canada’s big three grocers see shifting shopping habits as pandemic restrictions ease

Canadian consumer grocery shopping habits

Financial results from Canada’s three largest grocers offered a clearer picture of how the COVID-19 crisis has shaped shopping habits — and how consumers respond when public health restrictions are eased.

Metro Inc.’s third-quarter earnings, reported Wednesday, largely mirrored results posted earlier this summer by competitors Empire Co. Ltd. and Loblaw Companies Ltd.

At the onset of the pandemic, all three saw sales soar as shoppers stockpiled everything prompting shortages of things like flour and toilet paper. Many Canadians also opted for conventional full-service grocery stores rather than discount supermarkets and bought more items per visit as part of a one-stop-shop effort to reduce their grocery trips.

5 Ways CRE Buildings Continue to Get Smarter

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Smart technology is improving all the time, incorporating machine learning and artificial intelligence to handle more and more complex tasks. Now more than ever, all commercial buildings have to get Smart out of necessity – it is no longer a luxury. Particularly, there are 5 ways that CRE buildings continue to advance and change the industry.