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Real Estate
First Target, then Nordstrom — why do big retailers keep failing in Canada?
Nordstrom Inc. is closing all of its Canadian stores and cutting 2,500 jobs as it winds down operations in the country. THE CANADIAN PRESS/Nathan DenetteSince Nordstrom announced it was pulling out of Canada, there has been a…
Renters have stepped up efforts to address the housing crisis — it’s time for property managers to…
Renters and property managers both have mutual responsibilities in times of financial crisis.
THE CANADIAN PRESS/Jonathan Hayward
Grant Alexander Wilson, University of ReginaThree years ago, at the onset of the COVID-19 pandemic, I…
Ontario proposes to allow cities to expand boundaries faster for housing
TORONTO — Ontario introduced measures Thursday that would allow for more housing to be built beyond urban boundaries and in rural areas as projections suggest its target of building 1.5 million homes by 2031 is falling out of reach.The…
Buyers return to Toronto housing market as prices climb after sluggish period: TRREB
TORONTO — The Toronto Regional Real Estate Board says competition between buyers returned to the market last month as the average home price in the area ticked above the average list price for the first time since May 2022.The…
Vancouver’s March home sales down 42.5% from a year ago: B.C. board
VANCOUVER — The Real Estate Board of Greater Vancouver says home sales fell 42.5 per cent in March from a year ago and were 28.4 per cent below the 10-year seasonal average.Last month's sales totalled 2,535 compared with 4,405 sales…
Canada’s national office vacancy rate hit an all time high in Q1:
TORONTO — CBRE says Canada's national office vacancy rate hit an all-time high in the first quarter of the year.The real estate firm says the country's overall office vacancy rate amounted to 17.7 per cent, while downtown office…
Downtown Vancouver office vacancy breaks 10% for first time since 2004: Avison Young
VANCOUVER — Avison Young says Vancouver's downtown office vacancy rate has hit 10 per cent for the first time in almost 20 years.The real estate firm says the first quarter of this year brought Vancouver's downtown office vacancy…
Calgary housing market sees lowest March inventory since 2006: CREB
CALGARY — The Calgary Real Estate Board says last month delivered the market's lowest March inventory level since 2006 as home sales fell about 41 per cent from a year ago.The Alberta board says sales in Calgary for the month…
‘It’s wild’: Demand for homes in recreational markets outpacing supply, brokers…
When Jamie Robinson thinks about the number of properties available in and around Alberta's mountain mecca Banff, one word comes to mind: ``horrendous.''``Basically, anything that's for sale at this moment is selling fairly quickly, and…
Industry professionals respond to the 2023 Federal Budget
The Canada Green Building Council (CAGBC), Canadian Urban Transit Association (CUTA), Pembina Institute, Canada’s Building Trades Unions, and RESCON have issued the following statements in response to the federal government’s Budget…