2021 Ends With Record High Home Prices as Inventories Reach New Lows
The number of properties for sale continued to reach new lows in December across Canada’s largest housing markets, causing home prices to remain at or near their all-time highs. Average prices in Greater Toronto and Vancouver, Montreal and Ottawa ended 2021 between 18% and 24% higher than a year earlier. Meanwhile, home sales in Toronto […]
No relief in 2022 Experts predictions for Canadas housing market
No relief in 2022: Experts’ predictions for Canada’s housing market Sales are expected to slow next year, but only because there will be fewer homes available People have been calling Canadian real estate’s upward trajectory “unsustainable” for almost a decade now. But if a global pandemic, followed by a recession, followed by more pandemic hasn’t […]
According to the Real Estate Board Ottawa home prices up 13% in September
Ottawa Home Prices up 13% in September Inspired by Craig Lord Global News September house sales in Ottawa were more in line with pre-COVID-19 levels, the regional property board stated today, though it warned that a tight real estate supply continues to threaten price in the country’s capital. Members of the Ottawa Real Estate Board […]
Canada is on Track to have a Strong Fall Housing Market
Restraining with seasonal patterns, Canada is on track to have a strong fall real estate market, with activity poised to remain steady and typical sale prices set to increase even more by the end of 2021. High real estate costs, driven by low supply and high demand, have created difficult conditions for lots of homebuyers […]
CMHC Cautions Canada’s Housing Market Overheated, Highly Vulnerable
According to Canada Mortgage and Housing Corporation, a potent combination of factors, including home price growth acceleration and continued overvaluation and stagnant labor incomes, has created a high level of vulnerability in Canada’s housing market. Original story In its latest quarterly Housing Market Assessment, CMHC stated that “high vulnerability at the national scale is largely […]
Canadians will Soon see an Unprecedented Increase in Housing Supply
Canadians will soon see an unprecedented increase in housing supply. RBC’s analysis revealed multi-year highs in new home construction at various stages during Q2 2021. The highest number of new housing starts in more than three decades was reached in Q2 2021. In the coming months, homes that have been completed will reach a multi-decade […]
Canadian New Home Prices Increased in August
OTTAWA– The August increase in Canadian new house prices continues the upward trend that started in the spring 2020. Statistics Canada reported Tuesday that August saw a 0.7% increase in new house prices in Canada. New house prices rose 12.2% compared to a year earlier. According to the Canadian Real Estate Association, existing home sales […]
Home Prices Rising Across Canada – Affordability has been a Major Issue
Inflation rates are at their highest level in nearly 20 years, as a result of the COVID-19 pandemic affecting global supply chains and rising consumer demand. With home prices rising across Canada, affordability has been a major issue in the federal election campaign. To solve what is being called Canada’s housing crises, it will be […]
Home sales Down in August, Prices are Going Up
Canadian Real Estate Association (CREA), has updated its forecast for home sale activity via the Multiple Listing Service (r) and MLS (r). Systems of Canadian real-estate boards and associations. The past few years have seen record international immigration levels (not including 2020), low rates and a growing Millennial generation combine to drive strong housing demand […]
Tight Home Supply are Expected to Continue to Drive Prices Higher
Canadian Real Estate Association (CREA), has updated its forecast for home sale activity via the Multiple Listing Service (MLS(r),) Systems of Canadian real estate boards and associations. The past few years have seen record international immigration levels (not including 2020), low rates and a growing Millennial generation combine to drive strong housing demand and household […]
Ottawa-Based Realty Auction Site Looking to Shake up the Market
Unreserved, the First Transparent Online Auction Site in Canada OTTAWA-A startup based in Ottawa is trying to shake up real estate by hosting an online auction for homes. All bids are public and there is a small difference. Unreserved is the company and they are looking to get a piece in the hot housing market. […]
Real Estate in Canada Needs More Focus On Demand Issues
Canada Needs to Focus On Real Estate Demand Canada hasn’t seen so many housing units delivered in such a long time. Robert Kavcic, a senior economist at BMO, wrote to clients this morning about July’s new data on housing completions. Canada hasn’t built this many housing units in decades. Although there are still some supply-side […]