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Real Estate
April’s home sales down 41% from last year, 27% since March: Toronto realty board
TORONTO — Prospective homebuyers saw clear signs of a cooling Toronto market in April as the region's real estate board reported sales dropped by about 41 per cent since last year and 27 per cent in one month.The Toronto Regional Real…
Ontario Home Builders’ Association Welcomes Provincial Budget
According to the Ontario Home Builders’ Association (OHBA), the Ontario government’s 2022 Ontario budget lays out a path forward to build more housing supply and choice across the province. The OHBA states that the budget, titled…
Apartment, row house growth outpaces single detached homes: census
TORONTO – Single-detached houses are still the most plentiful type of housing in Canada, but apartments and row houses are slowly catching up, the latest census data reveals.The figures released by Statistics Canada on Wednesday…
Vancouver council hiking empty homes tax to 5 per cent of assessed value in 2023
Vancouver is raising the empty homes tax that is designed to ease vacancy rates in the city, from three per cent to five per cent of the property's value.The motion by Mayor Kennedy Stewart to hike the tax in 2023 received unanimous…
Interest in purchasing a home in major city centres increase: BMO Survey
Despite the increasing housing costs and rising inflation, interest in purchasing a home in major city centres has increased by five per cent since last year, according to BMO's latest housing survey.Major cities continue to be the most…
Census shows apartment growth, but supply remains the main issue in B.C.
VANCOUVER — Demand for housing in British Columbia still far outstrips supply, experts say, even as the latest census figures show growth in the number of homes was higher than the increase in population countrywide.Statistics Canada…
GTA new home market sees steady sales: BILD report
In March, GTA new home sales saw a change from the breakneck pace of the past few months, according to the Building Industry and Land Development Association (BILD).There were 4,115 total new home sales in March, which was down 21 per…
CMHC expects home sales and price growth to remain elevated, but ease from highs
OTTAWA — Canada Mortgage and Housing Corp. says it expects home sales and the pace of price growth for them will remain elevated this year, but ease from their highs of 2021.The national housing agency says improving levels of…
Priced out of Ontario, homebuyers turn their eyes to the Calgary real estate market
CALGARY — As Ontario's sizzling real estate market puts home ownership out of reach for many Canadians, a growing number of prospective buyers are looking west in hopes of achieving their white-picket-fence dreams.Like newlyweds Vineet…
Inflation picks up steam in March to hit 6.7% amid war in Europe, supply chain woes
OTTAWA – Canada's inflation rate hit 6.7 per cent last month, the fastest annual increase in more than three decades as Russia's attack on Ukraine pushed up oil prices and a pandemic-related supply chain crunch dragged on.The March…