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home prices

Ontario budget shows lower projections for new home construction

Allison Jones - The Canadian Press Mar 24, 2023

TORONTO — Projections in Ontario's budget for housing starts show the province's target to build 1.5 million homes in 10 years slipping further out of reach with each passing year.Nearly 100,000 homes were built in the province in 2022,…

Real Estate

Canada needs 300,000 new rental units to avoid gap quadrupling by 2026: report

Sammy Hudes - The Canadian Press Mar 22, 2023

TORONTO — Canada's rental housing shortage will quadruple to 120,000 units by 2026 without a significant boost in stock, Royal Bank of Canada said in a report Wednesday.In order to reach the optimal vacancy rate of three per cent, the…

Real Estate

Canadian home sales expected to pick up in spring but inventory still lags

Tara Deschamps - The Canadian Press Mar 22, 2023

TORONTO — With two kids under the age of six living in a two-bedroom, one-bathroom household, Jacquelin Forsey and her husband have long known it would only be a matter of time before their family outgrew their beloved home.Long hours…

Real Estate

Deflated Tri Cities real estate sales and listings continue into February

Patrick Penner, Local Journalism Initiative Reporter Mar 16, 2023

By Patrick Penner, Local Journalism Initiative ReporterTRI-CITIES DISPATCHDeflated Tri-Cities property sales and listings continued in February, according to monthly statistics released by the Real Estate Board of Greater Vancouver…

Real Estate

Canadian home sales drop 40 per cent in February compared with year ago

Brett Bundale and Tara Deschamps - The Canadian Press Mar 15, 2023

February's home sales plummeted 40 per cent from a year ago to levels not seen since before the pandemic as new listings and prices also dropped in what one economist called ``hints of a bottoming process.''The plunge in sales came as…

Construction

CMHC says annual rate of housing starts climbed 13 per cent in February

The Canadian Press Mar 15, 2023

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts climbed 13 per cent in February.The national housing agency says the seasonally adjusted annual rate of housing starts for the second month of the year…

Real Estate

Three strategies to help fix housing supply

Nevena Dragicevic Mar 14, 2023

The causes and solutions to Canada’s housing crisis have been endlessly debated in recent years. But at the core of the challenge is a supply issue - there simply isn’t enough housing to meet demand. According to the Canadian Housing and…

Real Estate

Signs of stability in Fraser Valley for home buyers and sellers

Building Mar 9, 2023

House prices in the Fraser Valley posted a slight but positive bump in February after nearly a year of month-over-month decreases. Similarly, sales, though still trending lower than normal, also recorded their first monthly gain since…

Real Estate

Montreal home sales hit new all time low for February: Quebec board

The Canadian Press Mar 7, 2023

MONTREAL — The Quebec Professional Association of Real Estate Brokers says Montreal's February home sales hit a new low last month, dropping 32 per cent from the prior February.Sales for the month totalled 2,996 compared with 4,375 a…

Real Estate

Toronto area home prices down 18% from last February, sales halved: board

Tara Deschamps - The Canadian Press Mar 3, 2023

TORONTO – Greater Toronto Area home prices fell almost 18 per cent from last February – the largest year-over-year drop on record – as the number of properties sold was halved, the region's real estate board said.The Toronto…

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