{"id":22938,"date":"2023-07-04T08:00:00","date_gmt":"2023-07-04T12:00:00","guid":{"rendered":"https:\/\/www.zolo.ca\/blog\/?p=22938"},"modified":"2023-06-28T14:47:28","modified_gmt":"2023-06-28T18:47:28","slug":"real-estate-market-canada-spring-2023","status":"publish","type":"post","link":"https:\/\/www.zolo.ca\/blog\/real-estate-market-canada-spring-2023","title":{"rendered":"An Analysis of Current Trends in Canada&#8217;s Real Estate Market"},"content":{"rendered":"\n\n\n<p>Coming off some of the most volatile years in Canada&#8217;s real estate and housing market, it\u2019s safe to say that buyers and sellers have a hard time imagining what the market could look like in one or two years. Various factors like house prices, interest rates, and new banking regulations competing for these individuals&#8217; attention can create fear or doubt when trying to make a real estate decision.\u00a0<\/p>\n\n\n\n<p>While the market looks strong this spring against more interest rate hikes, the setup is eerily similar to last year\u2019s spring market. There is a lot of attention on the growth in house prices and interest rates. But what does this mean for buyers and sellers? <\/p>\n\n\n\n<p>Let\u2019s take a look at the full scope of what\u2019s happening right now to impact the real estate market.<\/p>\n\n\n\n<section class=\"bg-white border-t border-b border-blacklight my-12 md:my-16 sticky md:relative top-0 md:top-auto z-10 md:z-auto alignwide  wp-block-zolo-block-toc \" aria-hidden=\"true\"><div class=\"wrapper relative max-w-2xl mx-auto md:py-8 flex flex-col flex-shrink-0 max-h-screen md:max-h-none\"><input type=\"checkbox\" id=\"toc-toggle\" class=\"hidden\"\/><label for=\"toc-toggle\" class=\"flex justify-between cursor-pointer md:cursor-auto py-4\"><div class=\"toc-title leading-normal font-medium m-0\">In this article<\/div><svg class=\"w-6 h-6 fill-current text-blue md:hidden transition-transform duration-150 ease-in-out\" viewbox=\"0 0 24 24\"><path d=\"M22 12c0-5.5-4.5-10-10-10S2 6.5 2 12s4.5 10 10 10 10-4.5 10-10zM6.9 10.9l1.4-1.4 3.7 3.7 3.7-3.7 1.4 1.4L12 16l-5.1-5.1z\"><\/path><\/svg><\/label><nav id=\"toc-nav\" class=\"zolo-toc-nav max-h-0 md:max-h-full overflow-y-auto scrollbar-hidden overscroll-none\"><ul class=\"zolo-toc-list my-4\"><li><a class=\"entry-title no-underline hover:underline\" href=\"#what-is-happening-in-canada's-spring-real-estate-and-housing-market?\">What is Happening in Canada&#8217;s Spring Real Estate and Housing Market?<\/a><\/li><li><a class=\"entry-title no-underline hover:underline\" href=\"#how-do-house-prices-look-in-canada\u2019s-real-estate-and-housing-market?\">How Do House Prices Look in Canada\u2019s Real Estate and Housing Market?<\/a><\/li><li><a class=\"entry-title no-underline hover:underline\" href=\"#how-can-buyers-and-sellers-manage-this-market?\">How Can Buyers and Sellers Manage this Market?<\/a><\/li><li><a class=\"entry-title no-underline hover:underline\" href=\"#what-is-coming-for-canada\u2019s-housing-market?\">What is Coming for Canada\u2019s Housing Market?<\/a><\/li><\/ul><\/nav><\/div><\/section>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-is-happening-in-canada's-spring-real-estate-and-housing-market?\">What is Happening in Canada&#8217;s Spring Real Estate and Housing Market?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"1507\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2023\/06\/What-is-Happening-in-Spring-Real-Estate-Market-1024x1507.png\" alt=\"canadian housing market\" class=\"wp-image-22939\"\/><\/figure>\n\n\n\n<p>With the <a href=\"https:\/\/www.federalreserve.gov\/\">US Federal Reserve<\/a> signalling two more hikes after their most recent decision to \u201cskip\u201d their most recent hike, more work seems to be done to control inflation. Further hiking could mean that central banks have departed the \u201csoft landing\u201d ideology and are pushed to the unfortunate reality that a hard landing, and a recession, could be the only way to get inflation back down to the target range.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"530\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2023\/06\/Inflation-in-the-Canadian-real-estate-market-1024x530.png\" alt=\"rising interest rates\" class=\"wp-image-22940\"\/><\/figure>\n\n\n\n<p>After all, <a href=\"https:\/\/blog.itreconomics.com\/blog\/navigating-through-signs-of-recession\">recessions<\/a> have a 100% success rate of getting inflation back down to the target range \u2014 which takes about 16 months. This is why <a href=\"https:\/\/twitter.com\/MacroAlf\/status\/1601366332527693824?s=20\">CIBC\u2019s Chief Economist Benjamin<\/a> Tal states that the Bank of Canada will always choose recession over inflation.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-do-house-prices-look-in-canada\u2019s-real-estate-and-housing-market?\">How Do House Prices Look in Canada\u2019s Real Estate and Housing Market?<\/h2>\n\n\n\n<p>To think about the future, we must understand what the Bank of Canada looks at when raising interest rates. If the Bank of Canada feels compelled to continue hiking rates to cool the economy, it\u2019s because it appears strong on paper.&nbsp;<\/p>\n\n\n\n<p>This assumption is based on unemployment at a record low and house prices growing from January until May. House prices grew at the fastest home price appreciation ever for the first five months of the year and the second fastest home price appreciation in a consecutive four-month period.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"1252\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2023\/06\/Real-estate-housing-market-Canada-1024x1252.png\" alt=\"Yearly home prices\" class=\"wp-image-22941\"\/><\/figure>\n\n\n\n<p>According to the Canadian Real Estate Association (<a href=\"https:\/\/creastats.crea.ca\/en-CA\/\">CREA<\/a>), prices have grown around 10% to 15% across the country since January, equivalent to the beginning of 2022, before the Bank of Canada\u2019s interest rate increase of 25 basis points. The spring market growth ended the same way this year \u2014 with a 25 basis point increase from the <a href=\"https:\/\/financialpost.com\/investing\/2-5-inflation-bank-of-canada-interest-rate-hikes-end#:~:text=At%202.5%20per%20cent%20today,increase%20since%20the%20late%201980s.\">Bank of Canada<\/a>. This \u201cunpausing\u201d hike seems to have shaken consumer sentiment and slowed price growth, as many buyers and professionals were anticipating that rate hikes were over.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"953\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2023\/06\/Canadian-housing-trends-1024x953.png\" alt=\"Benchmark home prices\" class=\"wp-image-22942\"\/><\/figure>\n\n\n\n<p>Generally, we saw a spring housing market that was chasing affordability. But, for some, buying a home doesn\u2019t even feel possible, with 63% of Canadians who don\u2019t own a home admitting to having \u201cgiven up\u201d on ever owning one. Because of this, entry-level or starter homes seem to be the most sought-after property type. This is causing a frenzy of buying along the price floor.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-why-are-canadians-moving\">Why are Canadians Moving?<\/h3>\n\n\n\n<p>Housing affordability is key for buyers, making cities like <a href=\"https:\/\/www.zolo.ca\/calgary-real-estate\/trends\">Calgary<\/a>, <a href=\"https:\/\/www.zolo.ca\/edmonton-real-estate\/trends\">Edmonton<\/a>, <a href=\"https:\/\/www.zolo.ca\/moncton-real-estate\">Moncton<\/a> and <a href=\"https:\/\/www.zolo.ca\/halifax-real-estate\">Halifax<\/a> appealing. The data tells us the same story: in the first few months of the year, <a href=\"https:\/\/calgaryherald.com\/news\/local-news\/with-economy-on-the-rise-alberta-leads-country-in-interprovincial-migration#:~:text=Alberta%20seeing%20greatest%20net%20interprovincial%20migration%20growth&amp;text=Alberta%20saw%20a%20net%20growth,was%20Nova%20Scotia%20with%201%2C025\">Calgary was the most searched city in Canada<\/a>, and Edmonton was the fourth most searched. Interprovincial migration shows large groups of people leaving Ontario and British Columbia and moving to more affordable areas.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"1708\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2023\/06\/Canadians-moving-to-Alberta-1024x1708.png\" alt=\"Alberta\" class=\"wp-image-22943\"\/><\/figure>\n\n\n\n<p>Buyers who felt excluded from the market for the past several years felt opportunistic toward the steep price discounts at the beginning of this year. But we\u2019ve seen those discounts exhausted as buyers aggressively bought property throughout the spring.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-could-increase-home-prices\">What Could Increase Home Prices?<\/h3>\n\n\n\n<p>This rollercoaster of volatility in Canadian house prices has left many buyers wondering whether or not prices go up or down from here in Canada. Let\u2019s start by looking at economic factors that could cause house prices to increase in Canada.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Canada\u2019s <a href=\"https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/230322\/dq230322f-eng.htm\">population grew by 1 million<\/a> last year&nbsp;&nbsp;<\/li><li>Canada was the<a href=\"https:\/\/www.cicnews.com\/2023\/02\/canada-breaks-record-by-welcoming-over-550000-new-international-students-in-2022-0233097.html#gs.17kdwi\"> top global destination for international students<\/a> in 2022, which supports the demand for rentals&nbsp;<\/li><li><a href=\"https:\/\/www.ctvnews.ca\/business\/rents-up-9-6-per-cent-over-2022-average-asking-price-now-2-002-in-canada-1.6400030\">Rents are rising<\/a> \u2014 and when rent prices rise, investors&#8217; willingness to pay for property increases<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-could-lower-home-prices\">What Could Lower Home Prices?<\/h3>\n\n\n\n<p>Now that we\u2019ve explored what could cause house prices to increase in Canada let\u2019s look at the alternative scenario and explore what factors could push prices down in Canada.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>OSFI is <a href=\"https:\/\/www.cbc.ca\/news\/business\/osfi-bank-regulator-1.6882282\">regulating Canadian banks<\/a> to hold more cash, meaning interest rates could go up further<\/li><li>Interest rates are going up (again) after a short \u201cpause\u201d<\/li><li>The Bank of Canada is suggesting that<a href=\"https:\/\/financialpost.com\/news\/economy\/interest-rates-higher-longer-bank-of-canada\"> interest rates will have to be higher for longer <\/a>\u00a0<\/li><li>Many indicators suggest a <a href=\"https:\/\/www.bnnbloomberg.ca\/is-canada-still-heading-for-a-recession-in-2023-1.1927694\">recession is on the horizon<\/a>\u00a0\u00a0<\/li><li>Household net worth is in decline<\/li><li>Household savings are in decline<\/li><li>Credit card debt is increasing<\/li><\/ul>\n\n\n\n<p>Either way, it\u2019s important that buyers and sellers keep an eye on both the economy and the real estate market to make good financial choices regarding their desire to own or their decision to sell.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-can-buyers-and-sellers-manage-this-market?\">How Can Buyers and Sellers Manage this Market?<\/h2>\n\n\n\n<p>If you plan to buy or sell property in the second half of the year, you might be wondering what you can do aside from monitoring the news and staying in the loop with your local market. The key thing to remember is that most of what happens within the economy or real estate market is outside of our control. So, as buyers and sellers of real estate in Canada, we must focus on the things we can control \u2014 and here are some of those things:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"<strong&gt;as-buyers:<\/strong&gt;\"><strong>What Should Buyers Do?<\/strong><\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Understand seasonality:<\/strong> house prices go up and down throughout the year<\/li><li><strong>Don\u2019t be afraid to negotiate:<\/strong> good deals are made, not found.<\/li><li><strong>Manage downside risk: <\/strong>look at the fundamentals of the property<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"<strong&gt;seasonality<\/strong&gt;\">1. <strong>Seasonality<\/strong><\/h3>\n\n\n\n<p>Look for seasonal cycles in real estate throughout the year. Ask your realtor to show you the average monthly price over the last several years. Every market has clear increases and decreases in market strength and price. It\u2019s easy to get wrapped up in the fear of missing out (FOMO), especially in a hot spring market like the one we just saw in many real estate markets in Canada in 2023, where prices rose substantially year to date. <\/p>\n\n\n\n<section class=\"wp-block-zolo-related flex items-center py-6 leading-tight border-t border-b border-blacklight undefined\"><p class=\"font-serif pr-6 md:pr-12 mr-6 md:flex-shrink-0 border-r border-blacklight\">Related content<\/p><p class=\"related-link w-full my-0\"><a href=\"https:\/\/www.zolo.ca\/blog\/real-estate-housing-market-canada\">How Canada\u2019s Real Estate Housing Market Looks Based on Historical Cycles<\/a><\/p><\/section>\n\n\n\n<p>For example, markets in Greater Toronto and The Lower Mainland were seeing offer dates with 20-30 offers, much like the spring of 2022.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"1286\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2023\/06\/Toronto-housing-market-1024x1286.png\" alt=\"Seasonality in the real estate market\" class=\"wp-image-22944\"\/><\/figure>\n\n\n\n<p>During the spring market, average prices typically rise 5% to 10% in any given year, simply because most people try to buy in the spring so that they can move in the summer. This demand typically peaks in May, and average prices, and the number of home sales, typically trend downward from May until August. You often see more inventory remain throughout the early summer, making it easier to buy when compared to the spring.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"<strong&gt;be-willing-to-negotiate<\/strong&gt;\">2. <strong>Be Willing to Negotiate<\/strong><\/h3>\n\n\n\n<p>It\u2019s important to note that a good deal is made, not found. If something is a really good deal, it\u2019s usually already found \u2013 especially for Canadian real estate. When a property is underpriced, in most cases, buyers can expect to see a bidding war, which drives the price up. But when a property is overpriced, it\u2019ll often sit in the market for a while before it sells. As buyers, we often feel compelled to only look at properties below our price range, when sometimes, we might find opportunities elsewhere if we\u2019re willing to negotiate favourable terms.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"<strong&gt;manage-downside-risk<\/strong&gt;\">3. <strong>Manage Downside Risk<\/strong><\/h3>\n\n\n\n<p>The biggest risk factor for a household is the cost of interest rates. Paying more on a mortgage can make a difference of tens of thousands of dollars in interest paid, which is just as impactful as negotiating a few extra percentage points on a house price.\u00a0<\/p>\n\n\n\n<p>Similarly, unforeseen problems with a home can cost just as much. So, work hard for a home inspection, or inspect a property thoroughly during the showing periods if you can\u2019t negotiate a condition. Make sure you\u2019re happy with the whole picture of your real estate decision, not just the price.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"<strong&gt;as-sellers:<\/strong&gt;\"><strong>What Should Sellers Do?<\/strong><\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Exercise patience: <\/strong>the market has less buying power than it did with record-low rates<\/li><li><strong>Don\u2019t get stuck to your strategy: <\/strong>this market requires flexibility<\/li><li><strong>Think about your next move: <\/strong>it\u2019s just as important as the move you\u2019re making<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"1.-<strong&gt;patience-is-a-virtue<\/strong&gt;\">1. <strong>Patience is a Virtue<\/strong><\/h3>\n\n\n\n<p>This year\u2019s spring market is slower than last year\u2019s. While price growth has been strong, in line with typical seasonal growth, fewer homes are selling and taking longer to sell. Buyers are being more careful after seeing a steep price drop behind them and a shaky economy ahead of them. While we\u2019re statistically in a seller\u2019s market due to low inventory, the number of homes selling is so low that a slight increase in new listings could shift the market in favour of buyers. In combination, buyers possess more power than they do individually.&nbsp;<\/p>\n\n\n\n<p>It\u2019s not uncommon to see financing conditions in today\u2019s market, especially with banks becoming more careful against rising unemployment and a shaky economy ahead. It may be worthwhile to consider offers conditional on financing to eliminate any subsequent financing issues before closing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"<strong&gt;sunk-cost-fallacy<\/strong&gt;\">2. Recognize <strong>Sunk-Cost Fallacy<\/strong><\/h3>\n\n\n\n<p>Switching costs are one of the reasons the real estate market is so slow. Broadly, switching costs are the costs that a consumer incurs due to changing products. Typically, these are financial limitations, but other considerations are being made to account for psychological, effort-based, and time-based switching costs. In many cases, these costs can be sunk costs. A sunk cost is capital (money, time, or effort) that has already been spent and cannot be recovered.<\/p>\n\n\n\n<p>These sunk costs can include things like preparing a home for sale, moving items into storage, or upgrading a home to make it more marketable. Sunk costs can be tricky with a real estate transaction because we become stuck to the strategy once we&#8217;ve spent them. This is called a sunk-cost fallacy, or the belief that because you made an investment, you need to stick with it \u2014 even at a potential financial loss. Exercise an open mind and a willingness to adapt \u2013 the market is constantly changing, and we must change with it.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3.-prepare-for-what's-next\">3. Prepare for What&#8217;s Next<\/h3>\n\n\n\n<p>As a seller, what you do after you sell can cost you just as much as your sale. If you\u2019re pushed into a fast closing or forced to take less money, this can drastically change the outcome of your entire transaction. It\u2019s important to think about the entire scope of the transaction \u2013 or the \u201cnet\u201d outcome. Think about how much you\u2019re making from the sale and how much you\u2019re spending on the next move. There are two moving parts to the transaction \u2013 consider them both.\u00a0 Will you be able to accomplish your financial goals with both parts?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"<strong&gt;what-is-coming-for-canada\u2019s-housing-market?<\/strong&gt;\"><strong>What is Coming for Canada\u2019s Housing Market?<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"1362\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2023\/06\/Canadian-real-estate-and-housing-market-1024x1362.png\" alt=\"\" class=\"wp-image-22945\"\/><\/figure>\n\n\n\n<p>When it comes to these potential market changes, there are a few factors to consider, including:<\/p>\n\n\n\n<p><strong>1. Household Net Worth:<\/strong> After three record years of household net worth gains, 2022 was the first time it turned negative since 2011.<\/p>\n\n\n\n<p><strong>2. Job Security: <\/strong>Recessions are often preceded by a cyclical low unemployment rate. Because of this, job security can be an important factor when transacting whether we\u2019re heading toward a recession.<\/p>\n\n\n\n<p><strong>3. Household Savings Rate:<\/strong> Consumers are saving less money, and this could create financial stress or increased supply in the Canadian housing market, as people need to sell assets, like investment properties, to improve their financial positions.<\/p>\n\n\n\n<p><strong>4. Consumer Delinquency:<\/strong> According to <a href=\"https:\/\/www.rbcits.com\/en\/insights\/2022\/04\/canadian_economic_update#:~:text=Near%2Dterm%20economic%20growth%20looks%20strong%2C%20but%20is%20slowing&amp;text=Growth%20is%20expected%20to%20slow,slowing%20to%202%25%20in%202023.\">RBC\u2019s most recent Economics Report<\/a>, consumer delinquencies are rising, which means more Canadian households are feeling financial stress. Typically, mortgages are the last type of loan to experience delinquency.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"take-note-of-economic-factors-in-canada's-real-estate-and-housing-market\">Take Note of Economic Factors in Canada&#8217;s Real Estate and Housing Market<\/h3>\n\n\n\n<p>There\u2019s much to consider in Canada\u2019s housing market right now. But, by considering all economic factors, buyers and sellers can make a more informed real estate decision in 2023.\u00a0<\/p>\n\n\n\n<p>Look at seasonality, know your local market trends, find trustworthy real estate professionals, and be patient. All of these tools can help you make the best possible decision for your home buying or selling journey. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s everything you need to know about the current real estate market<\/p>\n","protected":false},"author":115,"featured_media":22946,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"guide":[],"class_list":["post-22938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-trends"],"acf":[],"zolo_excerpt":"","_links":{"self":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/22938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/users\/115"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/comments?post=22938"}],"version-history":[{"count":1,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/22938\/revisions"}],"predecessor-version":[{"id":22947,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/22938\/revisions\/22947"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/media\/22946"}],"wp:attachment":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/media?parent=22938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/categories?post=22938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/tags?post=22938"},{"taxonomy":"guide","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/guide?post=22938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}