New mortgage rules set to spur market recovery, but impact may be short-lived
New mortgage rules coming into effect in December 2024 aim to support Canada’s housing market recovery, but their long-term impact may be limited due to rising home prices and ongoing affordability challenges. The key changes are: Experts warn that while these measures will likely provide a short-term boost, they won’t solve underlying problems like housing […]
Federal Competition Bureau investigates CREA’s rules over potentially inflated commission rates
The federal Competition Bureau is investigating the Canadian Real Estate Association (CREA) over two policies that may be inflating real estate commission rates. The inquiry, launched in June, focuses on: CREA has not been found guilty of any wrongdoing. Its chair, James Mabey, defends the policies, claiming they are pro-competitive, increase transparency, and improve services. […]
Is stability finally within reach in the GTA’s housing market?
The Greater Toronto Area real estate market is showing signs of recovery, although uncertainty persists. According to the Toronto Regional Real Estate Board’s latest Market Watch report, home sales have risen by 40.1% year-over-year, signaling a potential rebound. However, the market remains uneven, with fluctuating prices, modest growth in new listings, and cautious behavior from […]
Canmore Introduces New Housing Rules to Improve Housing Affordability
Canmore, a popular Alberta tourist destination, is facing a housing affordability crisis despite its scenic views and proximity to Calgary. To address this, the Town Council formed a Livability Task Force in 2023, focusing on three main goals: phasing out the Tourist Home Designation, exploring tax incentives for long-term occupancy, and promoting the development of […]
Canada’s housing market will see a “traditional spring surge” in 2025
Canada’s real estate market is expected to rebound in 2025, with activity likely to pick up as early as March. Factors driving this recovery include stabilizing interest rates, the return of sidelined buyers, and a potential increase in property inventory. Professionals predict a more traditional spring surge in sales after a quiet 2024, where sales […]
Stability returns to Canadian housing market, prices to rise 6% in 2025
The Canadian housing market is expected to stabilize in 2025, with declining interest rates and new lending rules bringing buyers back. Royal LePage forecasts a 6% rise in the average home price, reaching $856,692 by Q4 2025. Single-family detached homes are predicted to see a 7% price increase, while condo prices are expected to grow […]
Here’s What 500k Can Buy You Across Canada
Here are 10 homes for sale under $500,000, ranging from a modern, move-in ready three-bedroom home in Edmonton to a beautifully renovated two-story house with three large bedrooms and a generous backyard in Arnprior, near Ottawa. Read More
BoC Delivers (another) Big Drop
The Bank of Canada lowered its key overnight rate by another 50 basis points (0.5 percentage points), bringing it to 3.25%. This marks the fifth reduction in the central bank’s policy rate since June and the second consecutive cut of this magnitude. Read More
Real Estate in Canadian Ski Destinations Is Expected to Heat Up
Canada’s winter vacation property market, which has been slow in 2023, is expected to recover in 2024. Prices for single-family homes in 18 popular winter destinations are projected to rise by 7.5%, reaching a median of $1,019,960. Ontario’s Southern Georgian Bay region is forecast to see a 10% price increase, while British Columbia’s Whistler area […]
Housing Supply in Calgary and Surrounding Areas is Up Despite Strong Demand
Calgary’s housing market is showing signs of improvement, with inventory levels rising from near-record lows in 2023. In October, sales reached 2,174 units, 24% above long-term averages for the month, though the year-over-year increase was modest at just 0.2%. Housing supply has also risen significantly, from 3,025 units in October 2023 to 4,966 units this […]