New home sales in March were down 16% from March 2023 and 66% below the 10-year average, according to Altus Group, BILD’s official source for new home market intelligence.   If residents of the Greater Toronto Area (GTA) are dropping money on real estate in the region, it’s not on new homes. According to the Building Industry and Land Development Associ ...

      The Canada Mortgage and Housing Corp. is forecasting home prices could match peak levels seen in early 2022 by next year and reach new highs by 2026.   The agency's latest housing market outlook, released Thursday, says despite an increase in rental housing coming on the market in 2023, supply is not forecast to keep up with demand, leading to higher rents and lowe ...

      Following another Bank of Canada rate hold announcement, there’s promising signs that the real estate market will continue to bounce back this spring, according to the Canadian Real Estate Association (CREA).    In March, the national average home price reached $698,530, a 2% increase from the previous year, with average home prices increasing in ma ...

        When it comes to housing affordability, prospective buyers across North America are facing a narrowing range of options. As home prices have increased, so too has the cost of living. Simultaneously, median incomes have been inching up at a slower rate, further widening the gap between what median-income earners can afford and the actual prices of homes.  &nb ...

        Since the Federal Reserve began raising interest rates in 2022, prospective homebuyers and economists alike have been trying to predict when rate cuts may be coming. Currently, the federal funds rate is at 5.50% and average 30-year mortgage rates are around 6.82%. As borrowing costs increased, national home sales slowed. But if rates do drop this ye ...

    March 2024 home sales reported through TRREB’s MLS® System were lower than the March 2023 result, due in part to the statutory holiday Good Friday falling in March this year versus April last year. Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the average March home price compared to la ...

        While the housing market picture, on the whole, was a bit nuanced, TRREB President Jennifer Pearce said that the numbers were encouraging, and bode well for how the rest of the spring will play out.   With Good Friday falling in March this year, last month was a quieter one for Greater Toronto Area home sales compared to the year prior. The latest figu ...

        Spring is a popular time for people to start thinking about home renovations or upgrade projects that need to be done. The warm weather creates a buzz and spurs homeowners on to tackle the various projects ahead.   It can be easy to be excited about your upcoming home renovations and completely overlook the insurance part of the process. Along with the plan ...

        Spring is a season of blossoming flowers and warmer weather but also a time of new beginnings. If you’ve been dreaming of owning your first home, now is the perfect time to take the plunge into homeownership. Here are the essential steps to secure your first home and turn your homeownership dream into a reality.   Assess Your Financial Situation &nbs ...

    With winter officially behind us, the real estate landscape becomes more active, marking the onset of the busy Canadian spring market. Yet, before jumping into real estate ventures, it’s essential to understand the dynamics of the specific area you’re considering including which markets are favouring buyers, sellers, or are balanced.        ...

        Although cottage, cabin, and chalet prices are set to appreciate the most dramatically in Ontario, Royal LePage is calling for price growth across all provincial recreational markets in 2024.   It’s shaping up to be a strong year for Canada’s recreational property segment, according to just-released forecasting from Royal LePage. The Canadian re ...

    If you’re like most Canadians, chances are you’d love the opportunity to live and invest in a single-family home. In addition to the peace of mind that comes with owning your own property, there’s no denying that having additional space for features like a functional kitchen, a dedicated home office, a spacious playroom for your kids, or a backyard for your pets, ...

        More than half of the homes for sale in seven regions in the GTA were listed for more than $1 million in February, according to a recent Point 2 Homes report.   Oakville was tops among Ontario communities with 69.1 per cent of the properties listed for sale in February carrying sticker prices in excess of $1 million.   However, two British Colum ...

        Buying your first home is a thrilling milestone, marking a significant step towards independence and stability. However, it’s also a substantial financial commitment that can lead to buyer’s remorse if not carefully considered. To help you navigate this exciting yet daunting journey, here are some essential tips to ensure you make a confident and infor ...

        As snow storms finally begin winding down, the temperature isn’t the only thing that starts heating up. The busy season for the real estate market is well on its way, which means you can expect to see so many more listings within the next few weeks.   But what exactly is the spring market? The spring market is the term used to describe the height ...

        The Toronto Regional Real Estate Board (TRREB) has released its market data for February and, while an extra day will always help with overall numbers, it seems the year's shortest month would have performed well with or without a 29th day.   According to the board, some 5,607 GTA home sales were put through TRREB’s MLS® System in February – ...

        On top of softer mortgage rates, home prices have “chilled” across many major markets.   January brought a (rather rare) positive development for Canadian housing affordability. New data from Ratehub.ca shows that the average income required to buy a home is down in 13 major markets across the country.   In large part, this is b ...

        The real estate market can be fiercely competitive, especially during peak seasons like spring and summer when buyers are eager to find their dream homes and sellers are looking to capitalize on the influx of potential buyers. Navigating this competitive landscape requires a strategic approach and careful planning. Whether you’re buying or selling, here are ...

        In December 2023 and January 2024, home sales activity via Canadian MLS Systems increased by 3.7 per cent, continuing the 7.9 per cent month-over-month growth from November. Despite the fact activity has already returned to the relatively stronger months of 2023 over the spring and summer, 2024 has begun roughly 9 per cent below the 10-year average.   &ldqu ...

        This year kicked off with a hold of the overnight lending rate, and as a result, fixed rates have begun to come down. In October, the 5-year fixed mortgage rate peaked at 5.49%, but by January 2024 the rate dropped as low as 4.89%. High interest rates don’t just impact homeowners, they also affect the rental market. As interest rates have climbed o ...