This summer has been a time for stabilization in the Canadian real estate market. Home prices levelled out, inventory inched upward, and buyer hesitancy returned to soften sales. Now that summer is almost to an end, what might we see happen in the fall market? Here are the 5 market predictions our real estate experts have their eyes on:   Investors and Buye ...

        If you think that you'd need to leave Ontario to be able to afford a home, you might be shocked to learn how much cheaper some locales in the province are than others at the moment.   For those willing to abandon the GTA and set their sights further north — which is surely easier than relocating elsewhere in Canada or immigrating to ano ...

        Although it might feel like interest rates in 2023 are unbelievably high, they’ve been much higher before. The last time a 5-year fixed mortgage was higher than today’s 6.79% was in November 2008 when the 5-year fixed mortgage rate was at 7.20%. Before that, the 5-year fixed mortgage rate reached above 7% at least once every year from 1973 to ...

        The housing starts trendline in Canada increased for the second consecutive month in July, according to the Canada Mortgage and Housing Corporation (CMHC).    July saw a healthy number of actual starts (242,525 units), up 2.8 per cent from 235,819 units in June. The trend measure is a six-month moving average for the monthly SAAR of total housing start ...

        While the narrative for much of the 2023 housing market has been that prices are rebounding from 2022 lows, home prices are once again slowing down. Though current prices are not nearly as low as they were five years ago, the price difference in some cities is somewhat subtle. The tumultuous ups and downs of the last few years have surged prices in metro ...

        Since May, the Canadian real estate market has shown signs of stabilizing with price growth and sales activity slowing, and new listings catching up to last year’s levels. That was the case in July, as the Canadian Real Estate Association (CREA) reported a 17.9% month-over-month drop in national sales but an 8.7% year-over-year increase. With sales activity ...

          The average price of a house in Canada continues to climb and the latest increase might be discouraging for prospective home buyers. According to a new report from the Canadian Real Estate Association (CREA), the national average home price jumped to $668,754 in July. That's a 6.3 per cent increase from July 2022. This comes alongside the large ...

        A new report draws parallels between market conditions today and those from ten years ago, saying that “buyer mentality, mortgage rates, unaffordability, and demographics were not as opposing and could provide an indication of future trends.”   In many ways, we’re in an outlying time for real estate. Canadians are reeling from what is bein ...

        Home sales, new listings and prices in the Greater Toronto Area (GTA) improved compared to last July, however, as we move into peak Canadian holiday season, activity has begun to slow indicating the summer stall is here.   Strong Year-over-Year Market Improvements May Indicate that Canadians have Adjusted to Higher Borrowing Costs   In July, 5,250 ho ...

        Canadian housing prices have experienced a slight decline due to rising interest rates, but experts assert that the market remains on a long-term upward trend, indicating no imminent freefall in sight.    According to the seventh annual Price per Square Foot survey released by Century 21 Canada, the impact of interest rate growth has been uneven, with ...

          Are you considering installing a swimming pool in your backyard? Pools are a great way to cool off during the summer months and a reason to invite friends or family over to spend time with. But before you take the plunge, it might be worth considering how they could affect the resale value of your home.   What Goes Into Installing a Pool?   ...

        With just a few days left in the second quarter of the year, a new report from TD Economics looks ahead to the anticipated trajectory of the Canadian housing market, saying that “headwinds” brought on by the Bank of Canada’s (BoC) continued hike cycle will cause sales activity to dip in the second half of the year.   “Furth ...

          Following the correction that began in the spring of 2022, Canada’s housing markets have rebounded sharply over the last several months.   The national average home price hit $729K in May, a monthly increase of $13K, and more than a $116K jump from January. Meanwhile, home sales have risen consistently month over month since February ...

        Staging your home for sale can be daunting, but it’s an essential part of the process. It’s the first impression that potential buyers have to your home and will be key in influencing their decision. Properly staging your home allows buyers to envision living in the space and helps them create an emotional connection with the property. It can also ...

    Back in our parents' and grandparents' day, buying a small starter home in the Toronto area for around two to three times your annual household income was not only a possibility, but the norm.   But as Canadian real estate prices have expanded outrageously faster than incomes over the years, that basic life step has turned into a pipe dream.   With th ...

        If you're a first-time homebuyer but aren't sure you have enough money to afford a down payment on your dream house, you're not alone. According to Royal LePage's 2023 first-time homebuyer survey, prospective homeowners in Canada are increasingly worried they'll miss out on a home due to financial constraints. The survey, conducted by Environics Research an ...

        After a turbulent 2022, home sales and prices in Canada have been trending upward this year, with the national average home price reaching $754,700 in May 2023 — the highest it's been since July 2022.    Although dreams of purchasing a home in several markets — including Toronto — comes with a seven-digit pric ...

        While it feels like hardly anyone makes enough per year to be able to afford a down payment and mortgage on a house in Toronto, the salary required for home ownership in the city has actually gone down in the last year, even despite steep interest rate hikes.   When examining year-over-year figures in a new report, Ratehub.ca found that would-be h ...

        The First Home Savings Account (FHSA) is specifically designed to help first-time homebuyers save for their down payment without having to pay taxes on the interest earned on their savings.   This means that the interest earned on the savings in the account is not taxed, nor are withdrawals from the account. Plus, since your contributions to this account ar ...

        The spring market is showing no signs of cooling down yet as buyer activity remains intense. According to the Canadian Real Estate Association, national home sales were up month-over-month by 5.1% with 54,241 homes trading hands. Annually, sales were up by 1.4%, the first national year-over-year increase since June 2021.    The major markets ...