One of Canada’s largest real estate brokerages is bullish on real estate this year, just not condos. Royal LePage released its annual price forecast showing slower, but still big, price growth in 2021. There was one notable exception – condo apartments. They expect prices to rise, but they also expect them to lag the market. […]
Canada’s markets have been flooded with cheap money, causing a buying frenzy across the country. Canadian Real Estate Association (CREA) data shows record real estate sales in November. Unlike previous boom-time periods, the rise in home sales wasn’t confined to a few hot markets. All but two major cities across the country are seeing double […]
One of Canada’s largest real estate brokerages sees big price growth, just not in the country’s biggest city. Royal LePage released its forecast for Canadian real estate prices in 2021. They note the pandemic has accelerated a relocation pattern that started before the pandemic. Consequently, while price growth is optimistic, cities like Toronto are barely […]
Canada’s mortgage delinquencies are flat, but that story is much more interesting by region. Canada Mortgage and Housing Corporation (CMHC) data shows mortgage delinquencies are flat in Q3 2020. It’s a little different looking at the biggest real estate markets though. In Toronto and Vancouver, delinquencies are still rising to multi-year highs. Montreal is performing […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Industry Forecasts Prices Rising Over 9% Next Year Canada’s real estate industry is forecasting lofty price gains next year. The Canadian Real Estate Association (CREA) is forecasting an average national sale price of $620,404 in 2021, up 9.1% […]
Greater Toronto is far from Ontario’s hottest market, as everyone scrambles to buy… uh, rural property? Canadian Real Estate Association (CREA) data shows every market in Ontario is seeing massive price growth in November. This trend isn’t being driven by major cities like Toronto or Ottawa. Instead, small commuter suburbs and cottage country are what’s […]
Staff at the City of Toronto are getting ready for a vacant home tax, but there’s some industry concerns. Toronto Regional Real Estate Board (TRREB) asked City council members to ensure “data-driven and results” based decisions. Along with this request, they also shared a list of exemptions they would like to see. Here’s a few […]
The pandemic may have helped banks accelerate profitability… and not just from real estate prices. Well, kind of because of real estate prices. Earlier this month, two of Canada’s largest banks reiterated plans to reduce office space. The pandemic forced them to send non-essential staff to work from home. Now they’re finding things are working […]
Canadian real estate prices are soaring, with gains accelerating into the winter. Canadian Real Estate Association (CREA) data shows a big monthly jump for home prices in November. Prices are rising almost exclusively in the detached home segment. Condo apartment values have now rolled back to pre-pandemic prices. Canadian Real Estate Prices Grow At The […]
Canada’s largest bank is prepared for price drops most would find unthinkable. Royal Bank of Canada (RBC) filings show possible risk scenario forecasts. Over the next year, the base forecast shows virtually flat growth. In a best case scenario, growth would hit levels similar to previous years. In a worst case, they forecast prices can […]
