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Category: Housing Market (82 posts)
Canada’s housing market surges
January 15, 2021 | Posted by: Maurice Kwok
Canada’s housing market jumped in December, closing out the year with record sales and prices as buyers competed fiercely for larger properties during the pandemic. There were 551,392 home resa ...
read moreWhat to expect from the most astonishing year in the history of Canada's housing market
January 8, 2021 | Posted by: Maurice Kwok
Posthaste: 'Spectacular end to a spectacular year' — What to expect from the most astonishing year in the history of Canada's housing market Good Morning! Canada’s housing market ended 2 ...
read more2020 Vancouver Housing Market
January 5, 2021 | Posted by: Maurice Kwok
Vancouver housing market ends 2020 with strong sales, higher prices Vancouver’s housing market rebounded last year and finished with a strong performance in December, overcoming a brief slowdow ...
read moreFirst-time homebuyers see new opportunities, challenges in pandemic economy
January 4, 2021 | Posted by: Maurice Kwok
With mortgage rates at historic lows and price growth tapering in certain markets, the COVID-19 pandemic has presented both opportunities and challenges for first-time homebuyers. New buyers are seei ...
read moreCanadian home prices rose 0.9% in November, Teranet data show
December 21, 2020 | Posted by: Maurice Kwok
Canadian home prices rose 0.9 per cent in November from October, the strongest gain for a November in the index’s 22 years, led by gains in the cities of Hamilton, Halifax and Montreal, data sho ...
read moreBank of Canada governor wants to avoid housing policy mistakes of the past
December 19, 2020 | Posted by: Maurice Kwok
The Bank of Canada takes a lot of heat over this country’s various housing bubbles. Former governor Mark Carney definitely lit the match back in 2009 by dropping the benchmark interest rate to ...
read moreCanadian home prices seen spiking 9% in 2021
December 15, 2020 | Posted by: Maurice Kwok
Canadian home prices seen spiking 9% next year on low mortgage rates, tight supply in Ontario, Quebec Canada’s average home price is expected to jump 9 per cent next year, the national real e ...
read moreCanadian home prices should rise 5.5% in 2021, Royal LePage predicts
December 14, 2020 | Posted by: Maurice Kwok
Canadian real estate brokerage Royal LePage expects home prices to rise 5.5 per cent in 2021, building on unexpectedly strong growth this year, driven by a shortage of properties for sale and record o ...
read morePre-emptive bid for Bloor West home goes $276,000 over asking
December 11, 2020 | Posted by: Maurice Kwok
467 Beresford Ave., Toronto Asking price: $1,099,000 Selling price: $1,375,000 Previous selling price: $776,500 (February, 2015) Taxes: $4,905 (2020) Days on the market: three Co-op agent: Mary ...
read moreDowntown Toronto condo sells amid slowing market
December 7, 2020 | Posted by: Maurice Kwok
105 George St., No. 2003, Toronto Asking price: $559,000 (August, 2020) Selling price: $550,000 (August, 2020) Previous selling prices: $393,000 (December, 2016); $294,795 (October, 2015) Taxes: $ ...
read moreToronto, Vancouver home sales boom as buyers seek bigger spaces
December 3, 2020 | Posted by: Maurice Kwok
The work-from-home trend continues to increase property sales and prices outside the core areas of Toronto and Vancouver, while depressing downtown condo prices as buyers seek bigger spaces. Home sal ...
read moreHome prices in cottage country jump 15 to 40 per cent across Canada amid COVID-19
November 30, 2020 | Posted by: Maurice Kwok
Home prices have spiked in resort towns, cottage country and tourist areas across most of Canada, as the pandemic’s work from home trend pushes buyers to escape the city for nature and more spac ...
read moreLandlords can raise rents as much as they like when a tenant moves out
November 17, 2020 | Posted by: Maurice Kwok
If that rule were scrapped, would it make for more affordable housing? For more than two decades in Ontario, as successive governments have tinkered with rent control, there’s been a moment bet ...
read moreCanadian home sales fell 0.7% in October from September, prices edge up
November 16, 2020 | Posted by: Maurice Kwok
Canadian home sales fell 0.7% in October from September, edging back from the previous month’s all-time record, while the national average selling price hit another record high, the Canadian Rea ...
read moreMortgage rates could be heading higher for first time in pandemic
November 12, 2020 | Posted by: Maurice Kwok
Five-year fixed mortgage rates could be set to increase as early as this week for the first time since COVID-19 led to a 100-basis-point decline, according to multiple Canadian brokers who say lenders ...
read moreMarkham semi finally sells on third listing
November 9, 2020 | Posted by: Maurice Kwok
14 Grosvenor Court, Markham, Ontario (Leslie/Steeles NW) Asking price: $1,299,000 (July, 2020)Previous asking price: $1.399MM (Feb, 2020); $1.588MM (Nov, 2019) – under previous agentsSelling pr ...
read moreToronto breaks more real estate records, but condos under pressure
November 5, 2020 | Posted by: Maurice Kwok
The Greater Toronto Area’s (GTA) real estate market had another record-breaking month in October, even as COVID-19 cases forced new shutdowns. The Toronto Regional Real Estate Board says ...
read moreCanadian home sales and prices just smashed through another record
October 15, 2020 | Posted by: Maurice Kwok
OTTAWA — Canadian home sales climbed 0.9 per cent in September from August, raising them to a new all-time monthly record for the third month in a row, the Canadian Real Estate Association (CREA ...
read moreAjax home sells quickly as inventory shrinks
October 13, 2020 | Posted by: Maurice Kwok
15 McNicol Cres., Ajax, OntarioAsking price: $779,000Selling price: $805,000Previous selling prices: $470,000 (2014); $254,089 (2005)Preapproval: Click HERE for Mortgage Pre-approval Application& ...
read moreFor Toronto condo investors, the gravy train takes a detour
October 1, 2020 | Posted by: Maurice Kwok
On the front lines of Toronto’s cooling condominium apartment market, agents are contending with selling and leasing conditions that are upside-down compared with just a few months ago. Investo ...
read moreDone Deal ‘Pent-up demand’ gives Queensway bungalow sale a $153,500 bump
September 29, 2020 | Posted by: Maurice Kwok
21 Bentley Dr., Toronto Asking price: $1,249,000 Selling price: $1,402,500 Previous selling price: $551,000 (2011) Taxes: $4,144 (2020) Days on the market: One Listing agent: Jody Thompson, Re/M ...
read moreStudies suggest Toronto’s rental shortage will skyrocket in coming years
September 23, 2020 | Posted by: Maurice Kwok
A new report suggesting the Greater Toronto Area could be facing a shortage of 200,000 rental apartments within a decade is highlighting the conundrum of a region that is building more high-rise apart ...
read moreListing delayed, but demand sparks three quick offers on Toronto house
September 22, 2020 | Posted by: Maurice Kwok
392 Rhodes Ave., Toronto Asking price: $879,900 Selling price: $1,051,940 Mortgage Pre-approval: https://velocity-app.newton.ca/public/#/clientJourney/slides/home?shortCode=10shot8315udc ...
read moreCMHC saw 'moderate' risk of overvalued markets, stands by price forecast
September 21, 2020 | Posted by: Maurice Kwok
The Canadian Mortgage Housing Corporation (CMHC) saw ‘moderate’ evidence of an overvalued housing market in the Spring of 2020. The organization’s Housing Market Assessment ...
read moreLuxury Vaughan house’s sale meets pandemic roadblock
September 21, 2020 | Posted by: Maurice Kwok
5 Honey Locust Court, Vaughan, Ontario Asking price: $6,880,000 Selling price: $6-million Taxes: $6,000 (2019) Days on the market: 139 Listing agent: Voula Argyropoulos and Jerry Hammond, Hammo ...
read moreCanadian home sales climb again, set record for August: CREA
September 15, 2020 | Posted by: Maurice Kwok
Canada posted record home sales and prices in August, but the increase was uneven, as the housing market levelled off in some regions. Home sales in August climbed 6.2 per cent compared with July t ...
read moreToronto agents flock to Guelph ‘entry-level’ house
September 13, 2020 | Posted by: Maurice Kwok
15 Hasler Cres., Guelph, Ont. Asking price: $699,900 Selling price: $695,000 Previous selling price: $305,000 (2010); $256,290 (2006) Taxes: $4,619 (2020) Days on the market: two Listing agent ...
read moreMortgage delinquencies expected to jump in latter part of the year, CMHC says
September 10, 2020 | Posted by: Maurice Kwok
Canada’s housing agency said there could be a “significant increase' in mortgage delinquencies later this year as banks’ loan deferrals during the COVID-19 pandemic end and alternati ...
read moreToronto home prices soar to record highs in August
September 3, 2020 | Posted by: Maurice Kwok
Toronto’s housing market hit new record highs in August, with sales and prices spiking, as low mortgage rates fuelled competition for homes despite economic uncertainty brought on by the novel c ...
read moreCanadian home sales, prices hit record high as low mortgage rates drive buyers into the market
August 10, 2020 | Posted by: Maurice Kwok
Canadian home sales and prices surged to a record high in July, as buyers flooded the market and took advantage of rock bottom mortgage rates after the new coronavirus pandemic briefly slowed activity ...
read moreVancouver home sales spike as record low mortgage rates, limited supply drive competition
August 5, 2020 | Posted by: Maurice Kwok
Vancouver’s housing market spiked in July, with sales and prices climbing, as record low mortgage rates and limited supply whipped up competition after a brief slowdown from the coronavirus pand ...
read moreNew Home Sales in GTA Heat up Again in June: BILD
July 30, 2020 | Posted by: Maurice Kwok
Following two months of “historically slow” sales as a direct result of the COVID-19 pandemic, new home sales are starting to surge again in the Greater Toronto Area (GTA). In fact, durin ...
read moreHouse prices bounced up 6.5% in June compared to last year, CREA says
July 17, 2020 | Posted by: Maurice Kwok
Canada's housing market showed signs of recuperation from COVID-19 last month, with prices and sales numbers well up from where they were a year earlier. The Canadian Real Estate Association said Wed ...
read moreToronto real estate buyers turn to the suburbs as more people work from home
July 8, 2020 | Posted by: Maurice Kwok
Torontonians are increasingly heading to the suburbs and further afield, driving up sales in Niagara, St. Catharines, Burlington and Hamilton, as they search for more space after months of being coope ...
read moreToronto home sales rebound in June as market shrugs off coronavirus slowdown
July 7, 2020 | Posted by: Maurice Kwok
Toronto home sales rebounded in June, with the average selling price up 12 per cent over the past year, as competition heated up after a brief slowdown from the coronavirus pandemic. Once again, ...
read moreSix offers for Toronto home despite stiff competition
July 6, 2020 | Posted by: Maurice Kwok
285 Brookdale Ave., Toronto Asking price: $1,095,000 Selling price: $1,425,000 Previous selling prices: $1,370,000 (2017); $960,250 (2014); $328,000 (2001); $269,200 (1995) Taxes:&n ...
read morePandemic accelerates sale plans for Toronto condo
June 29, 2020 | Posted by: Maurice Kwok
85 Bloor St. E., No. 1503, Toronto Asking price: $469,000 Selling price: $580,000 Previous selling prices: $389,000 (2016); $332,500 (2011); $203,260 (2006) Taxes: $2,090 (2019) Days on the ...
read moreInside a 5-Bed Riverdale Home That Just Went for $500k Over Asking
June 22, 2020 | Posted by: Maurice Kwok
This 5-bed detached home at 63 Withrow Avenue in North Riverdale just went for $500,000 over asking after being on the market for just two days. Besides being just steps from one ...
read moreCanadian home sales and new listings on the rise in May
June 8, 2020 | Posted by: Maurice Kwok
OTTAWA, ON, June 15, 2020 /CNW/ - Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and new listings were up noticeably in May 2020 ...
read moreSigns of life in Toronto housing as sales surge 53% from April
June 3, 2020 | Posted by: Maurice Kwok
Activity in Canada’s largest housing market warmed up in May after going into a deep freeze at the onset of the COVID-19 pandemic, and the local real estate board says the momentum should contin ...
read more‘Serious’ buyers make two bids for Bloor West house
June 1, 2020 | Posted by: Maurice Kwok
571 Windermere Ave., Toronto Asking price: $1,399,000 Selling price: $1,701,000 Previous selling price: $306,000 (1998) Taxes: $5,760 (2019) Days on the market: Two List ...
read moreCMHC predicts house prices could drop up to 18 per cent
May 22, 2020 | Posted by: Maurice Kwok
Canada’s national housing agency is predicting home prices could plummet up to 18 per cent and mortgage arrears could soar to 20 per cent, a forecast some economists and real estate experts say ...
read moreCanadian home sales sank 57% in April as COVID-19 pandemic hammered market
May 20, 2020 | Posted by: Maurice Kwok
Canadian home sales tanked and price dipped in April over the previous month, marking the weakest activity since 1984 as the coronavirus pandemic slammed the housing market. Last month, 16,612 homes ...
read morePandemic puts downward pressure on residential rents
May 18, 2020 | Posted by: Maurice Kwok
As the COVID-19 pandemic dampens tenant demand, there are mounting signs that residential rent inflation is slowing, particularly in urban markets that have been racked by affordability concerns for y ...
read moreHome sales hammered by stay-at-home measures in Toronto, Vancouver, Calgary
May 5, 2020 | Posted by: Maurice Kwok
Home sales in Vancouver, Calgary and Toronto plunged in April, according to local real estate boards, as the COVID-19 pandemic closed businesses and led to mass layoffs across the country. In the Van ...
read moreGreater Toronto Area home sales down 69% midway through April due to COVID-19
April 23, 2020 | Posted by: Maurice Kwok
TORONTO – The Toronto Regional Real Estate Board says home sales were down 69 per cent in the first 17 days of April compared with a year ago as the COVID-19 outbreak put a chill on ma ...
read moreCanadian home sales dropped 14 per cent in March as COVID-19 crisis shuts down economy
April 15, 2020 | Posted by: Maurice Kwok
Home sales across Canada dropped 14 per cent in March, over the previous month, as the coronavirus pandemic shutdown work and thousands of Canadians lost their jobs. Last month, 41,151 homes were sol ...
read moreCMHC says housing vulnerability moderate, downgrades risk in Prairie cities to low
February 20, 2020 | Posted by: Maurice Kwok
Canada Mortgage and Housing Corp. (CMHC) says it has downgraded the vulnerability of several cities in the Prairies while Canada’s housing market remains moderately vulnerable. The federal hous ...
read moreHousing shortage in Ontario drives up home prices
February 14, 2020 | Posted by: Maurice Kwok
A housing shortage in Southern and Eastern Ontario is driving up home prices, and there is no relief in sight. The benchmark price of a typical home sold in January rose 8 per cent to $840,900 in the ...
read morePace of Canadian housing starts beats expectations in January
February 12, 2020 | Posted by: Maurice Kwok
The pace of housing starts climbed in January from a month earlier on gains in Ontario and Quebec while starts declined in Western Canada, according to Canada Mortgage and Housing Corp. The federal h ...
read moreOffer for Etobicoke townhouse tops asking price by 20 per cent
February 8, 2020 | Posted by: Maurice Kwok
542D Scarlett Rd., Toronto Asking price: $799,000 Selling price: $973,000 (+21.8%) Previous selling prices: $433,000 (2003); $325,325 (2000) Taxes: $4,466 (2018) Days on the ...
read moreToronto home sales headed for strong year as population grows, rates stay low, forecast says
February 6, 2020 | Posted by: Maurice Kwok
Toronto's housing market is in for a robust year, the area's real estate board said in a new forecast, as the population grows and interest rates remain low. The Toronto Regional Real Estate Board pr ...
read moreBuyer pays 30 per cent above asking price to nab King West loft
February 1, 2020 | Posted by: Maurice Kwok
954 King St. W., No. 326, Toronto Asking price: $498,000 Selling price: $646,100 Previous selling price: $124,330 (2000) Taxes: $2,161 (2018) Days on the market: 11 List ...
read moreIs Real Estate Growing or Declining in Toronto?
January 27, 2020 | Posted by: Maurice Kwok
Toronto, Canada’s largest city, has been notorious over the years from being the country’s most expensive real estate market, in close competition with Vancouver. But with Canada’s s ...
read moreTight Toronto housing market pushes prices to record highs with biggest gains in three years
January 8, 2020 | Posted by: Maurice Kwok
Home sales dropped in Toronto in December, but prices continued to rise as demand outstripped a dwindling supply of units available for purchase. The number of homes sold in Canada’s largest ci ...
read moreToronto Home Prices Expected to Skyrocket in 2020
January 2, 2020 | Posted by: Maurice Kwok
After a rocky few years of declining home prices and sales amidst goverment cooling measures, Toronto's real estate market heated up with a vengeance over the latter half of 2019. The Toron ...
read moreThe mortgage stress test is making housing supply issues worse — and making homes even more unaffordable
December 11, 2019 | Posted by: Maurice Kwok
Canada is experiencing sustained economic and population growth. Millennials and new Canadians are forming households and their desire for home ownership is very strong. Interest rates are low. In thi ...
read moreToronto Home Prices To Rise By 6 Per Cent In 2020: Report
November 28, 2019 | Posted by: Maurice Kwok
A new report from Re/Max forecasts that home prices in the City of Toronto will rise by 6 per cent in the coming year. The increase will make the average cost of a resale approximately $812 ...
read moreRecord population growth has huge housing impact Market Trends Affordable Housing
November 26, 2019 | Posted by: Maurice Kwok
Canada’s population grew by 531,000 from August 2018 to July 2019 – the largest 12-month increase in our history according to Statistics Canada. That growth is having an enormous impa ...
read moreToronto’s rental housing problem: Too many people in too little space
November 25, 2019 | Posted by: Maurice Kwok
The Toronto region has the highest proportion of renter households in Canada that don’t have enough room for all their occupants, a sign the city’s continuing rental crisis is forcing some ...
read moreCanada’s rental costs rising, adding to affordability woes
November 21, 2019 | Posted by: Maurice Kwok
Canada’s rental costs increased 0.8 per cent in October from a month ago, and by 2.5 per cent since January, according to figures released by Statistics Canada on Wednesday. In January, the sta ...
read moreCanadian home sales rise 12.9 per cent in October from a year ago: CREA
November 15, 2019 | Posted by: Maurice Kwok
The Canadian Real Estate Association says the number of home sales was up 12.9 per cent nationally in October compared with the same month last year. It says sales activity last month was almost the ...
read moreHomes in Canada are getting more affordable, but it isn’t likely to last
November 12, 2019 | Posted by: Maurice Kwok
Canadian home affordability has steadily improved this year thanks in large part to a decline in mortgage rates and rising incomes, but conditions remain “difficult” in Toronto and Vancouv ...
read moreToronto, Hamilton housing markets less risky, CMHC says
November 7, 2019 | Posted by: Maurice Kwok
The housing markets in Toronto and Hamilton have become less overvalued and no longer have a high degree of risk, Canada’s federal housing agency says. The Canada Mortgage and Housing Corp. dow ...
read more3 Canadian housing market trends to look out for in 2020
November 6, 2019 | Posted by: Maurice Kwok
The floodgates have officially opened for Canadian housing market forecasts for the next year. We’ve already heard that interest rates will likely sink lower in 2020 as the housi ...
read moreToronto, Vancouver home sales on the rise with double-digit increases in October 2019
November 5, 2019 | Posted by: Maurice Kwok
Home sales in Vancouver and Toronto had double-digit increases in October over the previous year, and prices in Toronto jumped as well, as the country’s most expensive markets continued their re ...
read more‘The housing sector is clearly on the rebound’: What Bank of Canada expects in next two years
November 2, 2019 | Posted by: Maurice Kwok
The Bank of Canada is keeping a wary eye on the housing and mortgage markets, though it has seen nothing bubbly of late. Still, the central bank said this week that, after all the government measures ...
read moreRental buildings making a comeback as housing crunch pushes demand, returns
October 28, 2019 | Posted by: Maurice Kwok
Matthew Boukall remembers a couple of years back at a conference in Calgary, where someone got confused over the difference between condo and rental apartment builds. “People had only seen cond ...
read moreCMHC: Housing Activity Expected to Recover in 2020
October 25, 2019 | Posted by: Maurice Kwok
Explore the forecasts for 2020 – 2021 and learn more about the overall economic and demographic conditions, housing starts and home sales. Find out how housing activity is expected to recover i ...
read moreCMHC forecasts a recovery in Canada’s housing market after two years of declines
October 24, 2019 | Posted by: Maurice Kwok
Canada’s federal housing agency expects the housing market to recover in the next two years after declines in home building, sales and prices. Canada Mortgage and Housing Corp. said in its annu ...
read moreRebound continues as home sales jump across Canada amid affordability concerns
October 17, 2019 | Posted by: Maurice Kwok
Canada’s home sales jumped 15.5 per cent in September compared with last year, with rising activity and record prices in Toronto and its surrounding suburbs adding to affordability concerns that ...
read moreHome sales in September up 15.5 per cent from year ago: CREA
October 15, 2019 | Posted by: Maurice Kwok
Ottawa, ON, October 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up slightly in September 2019. Highlights: National ...
read moreToronto is now the world's second most overvalued property market: UBS
October 10, 2019 | Posted by: Maurice Kwok
Toronto has emerged as the world’s second most overvalued housing market on the back of low rates and supply shortages, according to UBS AG’s annual global real estate bubble index. Vanco ...
read moreCanadian housing starts fell 2.5 per cent in September but less than expected
October 8, 2019 | Posted by: Maurice Kwok
The pace of Canadian housing starts slowed in September compared with August, but still came in better than expected. Canada Mortgage and Housing Corp. said Tuesday the seasonally adjusted annual rat ...
read moreToronto, Vancouver home sales surge as Canada’s most expensive cities move into recovery mode
October 3, 2019 | Posted by: Maurice Kwok
Home sales rose sharply in Toronto and Vancouver last month as Canada’s most expensive cities continued to move strongly into recovery mode after a long slump. Sales of all home types climbed b ...
read moreVancouver housing sales surge as prices continue to drop
October 2, 2019 | Posted by: Maurice Kwok
Greater Vancouver housing sales surged after prices dropped to their lowest level since the spring of 2017. The Real Estate Board of Greater Vancouver said on Wednesday that there were 2,333 sales in ...
read moreCanadian Home Sales Have ‘Room To Run’ In 2020, CREA Predicts
September 30, 2019 | Posted by: Maurice Kwok
Home sales rose Canada-wide for the sixth straight month in August, leading one of the country’s largest real estate industry groups to increase its 2019 sales forecast on the back of ...
read moreWhere Could a Median-Income Household Afford Real Estate in Canada?
September 27, 2019 | Posted by: Maurice Kwok
Housing affordability has long been a hot-button issue across Canada and will take centre stage in the upcoming October Federal Election as a top priority for voters. However, given the vast geographi ...
read moreCanadian home prices rise for fourth straight month in August
September 19, 2019 | Posted by: Maurice Kwok
Canadian home prices rose for the fourth consecutive month in August, while the annual increase in prices picked up for the first time in nine months, data on Thursday showed. The Teranet-National Ba ...
read moreDetached-housing market is breaking out of two-year sales slump in Toronto-area suburbs
September 2, 2019 | Posted by: Maurice Kwok
Sales of detached houses in the suburban 905 region outside Toronto are leaping higher after a two-year slump, posting gains of 20 per cent or more in every month since April. When home sales began ...
read moreBig bank releases housing trends for 2017
August 26, 2019 | Posted by: Maurice Kwok
Five takeaways from RBC’s national housing health report.(1) Sellers’ markets Nation-wide, sales-to-new listings ratios climbed to the point of favouring sellers in 2016 and sales tre ...
read moreCanadian Housing Statistics
July 8, 2019 | Posted by: Maurice Kwok
CMHC annual reports and monthly updates contain current and historical data on housing in Canada — new construction, new home prices and sales, rental statistics and the demographics of housing ...
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