The Globe’s new Real Estate Beat offers news and analysis on the Canadian housing market from real estate reporter, Tara Perkins, and others. Read more on The Globe’s housing page and follow Tara on Twitter @TaraPerkins.
Want to know when the housing market will take off? Ask Google.
It looks like the number of times that Canadians search for the term “mortgages” in Google is a decent indicator of what home sales will do. And if that’s true, the spring might yet show a spike in the number of homes changing hands, followed by a levelling off.
We used Google trends to track how many Canadians had searched the term “mortgages” between March 2012 and March 2014. We then overlaid that with the number of existing homes that were changing hands in each month over that time frame. And voilà.