Last year, the Canadian Government took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their p ...

        Even as 2022 drew to a close, few experts had high hopes for the Greater Toronto Area (GTA) real estate market going into the new year.   A  November report from RE/MAX Canada forecasted prices in the region to plummet by an astronomical $140,000 in 2023, and the following month, Royal LePage projected the aggregate price of a GTA home will decrea ...

      Some Highlights Buying a home is a major transaction that can seem even more complex when you don’t understand the terms used throughout the process. If you’re looking to become a homeowner this year, it’s important to know these housing terms and how they relate to the current market so you feel confident throughout the home ...

    Buying property in Toronto seems a bit to me like playing a slow, measured version of the lottery, but with better odds of success and a far greater barrier to entry.   Scratch tickets may not turn many people into millionaires, but anyone who purchased a home in Canada's biggest city ten years ago could realistically have tacked an&nb ...

        During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, ...

        The average selling price for all Greater Toronto Area homes saw another drop in December to close 2022 – a year in which the region's housing market started strong before being tempered by interest rate hikes.   On Thursday, the Toronto Regional Real Estate Board (TRREB) released December's housing numbers, showing the average price across all proper ...

        Some Highlights If you’re planning to buy a home in 2023, here are a few things to focus on. Work on your credit and save for a down payment. If saving feels like a challenge, there’s help available. Then, get pre-approved, create a list of desired features, and prioritize them. Reach out to a real esta ...

        It was quite a wild year in the Greater Toronto Area (GTA) real estate market.   Already facing pronounced affordability concerns, a procession of ever-increasing interest rate hikes by the Bank of Canada hit Toronto homeowners hard in 2022, even as overinflated prices started to cool off in the country's largest urban centre. &nbs ...

        A new year brings with it the opportunity for new experiences. If that resonates with you because you’re considering making a move, you’re likely juggling a mix of excitement over your next home and a sense of attachment to your current one.   A great way to ease some of those emotions and ensure you’re feeling confident in your decis ...

        If you’re a renter, you likely face an important decision every year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it helps to understand the true costs of renting moving forward.   In the past year, both current renters and new renters have seen their rent go up ...

        Starting today, foreign commercial enterprises and people will be banned from purchasing residential properties in Canada for two years.   The Canadian Mortgage and Housing Corporation previously announced the regulations for the ban, which come into effect on Jan. 1.   The ban passed in Parliament on June 23, with the hopes of addressing h ...

        Toronto real estate was definitely one of the hottest topics in 2022 with a major housing correction hitting the market in the spring, resulting in plummeting home sales and prices.   But after a year of consistent interest rate hikes by the Bank of Canada and limited housing stock across the nation, 2023 is set to be a different market story that is leavin ...

        The quality of the surrounding community is a significant factor in determining whether you will be happy in your new home. While choosing a neighbourhood and forming an accurate impression of it is tough until you actually live there, preliminary research on the area can reduce the likelihood of suffering from buyer’s remorse down the road. So, how can you ...

        If you’re looking for ways to spruce up your home without breaking the bank, you’ve come to the right place. Here are six jaw-dropping ways to update your home without breaking the bank. With creativity and elbow grease, you can achieve professional-looking results without spending a fortune.   1. Paint Your Front Door   One of the quicke ...

        While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan.   Don’t Deposit Large Sums of Cash &nb ...

        Astronomically high Toronto home prices may have fallen a bit since the Bank of Canada started hiking interest rates in March, but purchasing property is no more affordable than it was last year.   Quite the contrary, in fact.   A new report from RBC Economics suggests that home ownership costs are skyrocketing as interest rates s ...

        As purchasing power lessens and demand continues to drop, roughly 70% of Canadian housing markets are now considered balanced.   In its November housing market analysis, the Canadian Real Estate Association (CREA) found that markets continued to cool last month, with both sales and new listings falling across the country. In fact, with the one exc ...

        The Canadian real estate market saw its fair share of highs and lows in 2022. With the new year right around the corner, what can we anticipate in 2023?  Lauren Haw, CEO of Zoocasa described the theme of 2023 as being “all about timing”. Here are five trends that we have our eye on:    1. Rate Increases Will Catch Up to Homeowners &nb ...

        The Canadian Real Estate Association says seasonally adjusted home sales were down 3.3 per cent on a month-over-month basis in November.   The association said Thursday the move lower more than erased the gain seen in October and resumed the overall trend lower for the year.   CREA said about 60 per cent of all local markets saw lower& ...

        Toronto continues to be the second-most expensive rental market in Canada, while the average rent across the country is up 12 per cent from last year, reaching a record-high of $2,024 for all rental types.   This according to the latest data from Rentals.ca and Urbanation – a real estate research firm – which revealed that the steepest ...