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 by 3.5%. The backlog of buyers and upcoming mortgage rule changes are expected to boost Canadians’ borrowing power. Optimism is also fueled by the Bank of Canada’s recent policy shift, which has already led to increased market activity.
Founders of Canada’s largest for sale by owner company revive the brand
EDMONTON, AB, Oct. 29, 2024 /CNW/ – After a 15-year hiatus, real estate disruptor ComFree is now back and in the hands of its Edmonton-based founders. Originally launched in 1996 in Winnipeg as a small local business, Erin and Travis Holowach purchased franchise rights to Edmonton and Northern Alberta in 2002 and quickly scaled the business. Under their leadership, ComFree became the largest for sale by owner company in the world, saving Canadians over $85 million in commissions.
After a rocky merger in 2009 with PowerCorp, that resulted in the Holowachs’ exiting, the company underwent a succession of rebrands and owners, including Yellow Pages Group, Purple Bricks and finally Desjardin Insurance (operating under the name FairSquare). The company was then officially dissolved in 2023. In the meantime, Erin and Travis Holowach had been involved in a variety of entrepreneurial ventures and in 2023 founded HomeFree; an iteration of ComFree. They have now regained the rights to ComFree and will operate in Alberta, British Columbia and Ontario under the brand they originally scaled, with further expansion plans in Canada and the United States.
“The rebirth of ComFree comes at a crucial time with consumers more interested than ever in saving money as homes become increasingly unaffordable,” said ComFree co-founder Travis Holowach. “For over a decade, the Federal Competition Bureau has addressed concerns over how real estate commissions are charged and this June launched a national investigation into anti-competitive practices in the industry.”
ComFree offers a fully supported process with everything needed to sell privately for a flat seller fee of $997, including listing on MLS® and REALTOR.ca, a virtual tour and photos, advertising, signage, pricing support, Offer to Purchase forms, discounted legal fees and more. Buyers and Sellers alike can benefit from the commissions saved while successfully navigating their own real estate transaction without intermediaries and with the support of the ComFree team.
Customers of ComFree can sell their homes while preserving more of their home equity, saving anywhere from $19,000–$30,000 per transaction, depending on the province. The process is transparent, a stark contrast to the traditional agent model which requires the Seller to pay significant commission to both the selling and buying agents, usually around 5% of the sale price. Under this model, the Buyer is often unaware of the amount of commission being paid.
“This is a full circle moment for us as serial entrepreneurs,” said Erin Holowach, co-founder of ComFree. “Our mission is simple; to continue to empower and educate Canadians on how to sell their own homes while saving enough money for a renovation or adding equity to another property.”
About ComFree
Operating in Alberta, British Columbia and Ontario, ComFree provides everything needed to sell and buy homes privately. First founded in Winnipeg in 1996, the company changed hands several times before returning to Travis and Erin Holowach in 2024. ComFree is built on a foundation of service, trust, and transparency with an unwavering commitment to education and empowering customers throughout the entire real estate process. For more information, please visit www.comfree.com.
Editor’s Note: The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.
SOURCE ComFree
Overview of Current Trends
The Canadian housing market is beginning to exhibit signs of stabilization, particularly as interest rates show a downward trend. This shift is expected to positively influence buyer sentiment and overall market activity.
Interest Rate Developments
Recent data indicates that interest rates are on the decline, which could alleviate some financial pressures for potential homebuyers. Lower interest rates generally make borrowing more affordable, potentially leading to increased demand in the housing sector.
Market Activity and Buyer Sentiment
As interest rates decrease, there is an anticipated boost in buyer confidence. This renewed optimism may encourage more individuals to enter the housing market, contributing to a more active real estate environment. The combination of lower borrowing costs and improved consumer sentiment could lead to a resurgence in home sales.
In summary, the Canadian housing market appears to be stabilizing as interest rates decline. This trend may foster a more favorable environment for buyers, ultimately enhancing market dynamics.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.
* Only when the buyer comes direct, otherwise the seller may choose to negotiate a commission with the buyer’s agent.
