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A new report says a boost in spending on home renovations during the pandemic has helped contribute to higher prices for single-family homes despite downward market pressure. The report by Re/Max Canada looked at the evolution of housing stock and trends affecting home values in the Toronto and Vancouver areas, …
Read More »Fall housing market could be ripe for 1st-time buyers. Here’s why
Some long-unaffordable pockets of Canada’s housing market could open up to first-time homebuyers this fall as interest rates decline but experts expect prices will hold relatively flat. Activity in the Canadian housing market has largely been muted through much of the spring and summer despite the start of rate cuts …
Read More »Canada’s housing market hit ‘pause’ in July despite rate cuts – National
The start of interest rate cuts from the Bank of Canada has done little to stoke a fire in the Canadian housing market, fresh data from July shows. The Canadian Real Estate Association (CREA) said Thursday that home sales retreated by 0.7 per cent month to month in July, giving …
Read More »‘It’s crickets’: How sellers are getting creative in a slow housing market
A flood of listings in many Canadian housing markets is giving buyers who can qualify their pick of the litter and is forcing some sellers to get creative to land a deal. A glut of condos in Toronto, for example, means some sellers have to pull out unorthodox strategies to …
Read More »Housing market 2024: What to expect with rate cuts in the forecast – National
After nearly two years of hikes to the Bank of Canada’s benchmark interest rate, some forecasters are expecting the housing market correction will come to an end in 2024. But when that bottom hits, and how fiercely home sales and prices rebound, is a question dogging some Canadians who continue …
Read More »As interest rate decision looms, here’s what to expect in the fall housing market – National
Canada’s housing market could face a chill this fall as prospective buyers and sellers wait to see where the Bank of Canada’s interest rate path will head, according to new polling released Tuesday. Re/Max Canada said in a report that home prices are expected to remain flat nationally from August …
Read More »Canada’s housing market has ‘rebounded sharply’. As rates rise, can it last? – National
The Bank of Canada’s return to interest rate hikes will not be enough to fully tamp down an uptick in activity in the housing market, argues a new report from Desjardins. Signals from the Bank of Canada that its interest rate tightening cycle had possibly peaked in January gave way …
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