Real Estate News Archives - Page 25 of 76

Canadian economy grew in second quarter

September 4, 2022 by Claude Jobin

CityNews Everywhere reports that the Canadian economy grew by annual rate of 3.3 per cent in the second quarter. Details here.

Micro-condo mortgages

September 2, 2022 by Claude Jobin

CityNewsEverywhere reports on the nuances of financing a micro-condo. Financial institutions typically have a minimum size requirement, but as condo sizes keep dropping, those institutions will need to make adjustments. In the interim be aware that there may be extra hurdles when seeking financing. Details here.

City dwellers traded condos for country life in the pandemic. Now, some are moving back

August 30, 2022 by Claude Jobin

Some city dwellers moved to the country at the start of the pandemic. Here is a story of a couple who is now looking to move back into the city.

Canada’s real estate market is cooling. Here’s what to expect this fall

August 29, 2022 by Claude Jobin

Tara Deschamps of The Canadian Press reports on the state of the real estate market across the country and provides her prediction as to how the fall market may unfold. Details here in the Financial Post.

Ottawa millennials believe they will own a home one day

August 25, 2022 by Claude Jobin

A survey conducted by Royal LePage recently reveals that 54 per cent of Ottawa millennials believe they will own a home one day. Ottawa details here. Country-wide snapshot here, details here.

Housing Market Snapshot – July 2022

August 20, 2022 by Claude Jobin

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Housing starts in Ottawa-Gatineau soar 170%, top 2,000 in July, CMHC reports

August 18, 2022 by Claude Jobin

Housing starts in the Ottawa/Gatineau area are up 170% according to the latest report by the CMHC. Details on the Ottawa Business Journal site.

Canadian home sales slow further in July

August 16, 2022 by Claude Jobin

Statistics released by the Canadian Real Estate Association (CREA) show national home sales slowed further in July 2022.

On a seasonally adjusted basis, the association said sales in July fell 5.3 per cent compared with June. The actual number of sales last month was 37,975, down 29 per cent compared with July last year.

The average sales price was $629,971, down five per cent from $662,924 last July and on a seasonally adjusted basis amounted to $650,760, a three per cent drop from June, CREA said.

Details on CityNews Everywhere or on the CREA website.

Canadian home prices set to drop by almost 25% by end of 2023: Desjardins

August 15, 2022 by Claude Jobin

Desjardins Economics addresses the recent correction in the real estate market. They have adjusted their forecast downward, from a previous 15 percent to 23 percent for 2023. Alas, once again, when talking about national figures Vancouver and Toronto significantly skew the numbers such that the statistics don’t reflect the Ottawa real estate market. Go to the Financial Post for the details or to the Ottawa Business Journal for a summary.