Canadian real estate developers are being squeezed by inflation, and it’s turning ugly. The Hazleton Development Corporation obtained Companies’ Creditor Arrangement Act (CCAA) protection on April 20, 2022. The developer cited rising costs as one of the primary issues putting a 265-home project at completion risk. In this particular case, costs rose less than typical […]
Strap in because Toronto real estate will be on an even wilder than normal ride the next few months. Toronto Regional Real Estate Board (TRREB) data shows home prices jumped in March. Other price indicators fell, with the board noting prices “bucked” the seasonal trend. Home sales dropped at 3x the rate of new inventory, […]
Greater Toronto real estate is still a tight market, but all of a sudden it has a lot more inventory. Toronto Regional Real Estate Board (TRREB) data shows prices ripped higher in February. Positive price growth news didn’t just end there though, as the market actually saw annual growth accelerated. Oddly enough, this occurred as […]
Greater Toronto new home sales ripped to a new high last month. BILD and Altus Group data shows new homes had the biggest January ever, with tight inventory. Despite the perfect conditions for higher home prices, they did the opposite. The cost of a typical single-family home fell by tens of thousands of dollars, while […]
Greater Toronto home prices are surging even faster after the central bank’s warning. Toronto Regional Real Estate Board (TRREB) data shows home prices soared in January. Low inventory and a long warning for interest rates, helped to drive demand to send prices to a new record. Warning people rates will rise months in advance appears […]
Toronto’s sky-high real estate prices might have turned into a hurdle for the city’s growth. Statistics Canada (Stat Can) released its 2021 population estimates for Toronto this week. For the year ending July 1, most of the city’s growth was seniors. Last year was a bit of an anomaly, that’s true. It’s not a new […]
Toronto real estate prices are some of the fastest growing of any global hub, but it might seem slow at home. Canadian Real Estate Association (CREA) data shows Toronto is the slowest growing market in Ontario. Small cities are growing up to 3x faster, closing the gap between the county’s economic engine. Toronto Real Estate […]
The Canadian real estate boom has produced a gold rush, and now everyone is trying to sell you a home. It’s a country-wide phenomenon, as people see a low barrier of entry and large commissions. However, nowhere has taken to the trend like Toronto, which now has more Realtors than teachers. A lot more. Not […]
Canada’s largest provincial real estate market is about to become more transparent. The Real Estate Council of Ontario (RECO) is looking for feedback on proposed rule changes. The proposal is to create more transparency, and includes allowing multiple-bid disclosure. Multiple bids get the most attention, but a less-known change is a bigger deal — eliminating […]
Greater Toronto real estate prices are moving at one of the fastest rates in history. Toronto Regional Real Estate Board (TRREB) data shows home prices hit a new record in November. The result was home prices soared by tens of thousands, printing a fifth of annual gains in just 30 days. Excess demand, driven by […]
