GTA REALTORS® Report record year for TREB MLS® Home sales

The second best sales result on record for December capped off a record year for TREB MLS® home sales in the GTA. Toronto Real Estate Board President Mark McLean announced that there were 4,945 sales reported in December bringing the 2015 calendar year total to 101,299 – a substantial 9.2 per cent increase compared to 2014 as a whole. Strong annual sales increases were experienced for all major home types last year. "Home ownership is a … [Read more...]

Average house prices to edge higher in 2016 according to CREA

Canada’s national average house price is expected to edge higher by 1.4 per cent in 2016, to $448,700 — with Ontario leading the other regions with an increase of 2.9 per cent. The Canadian Real Estate Association expects average house prices in Alberta, Saskatchewan and Newfoundland and Labrador to fall next year because of the downturn in the oil industry. The association is estimating Alberta's average housing price will fall in 2016 … [Read more...]

New condo rules will help 1.3M Ontarians

Some 1.3 million Ontario condo dwellers will be better protected and have more rights under long-awaited new legislation. Some 1.3 million Ontario condo dwellers will be better protected and have more rights under long-awaited new provincial legislation that has passed unanimously at Queen’s Park. In a province with 700,000 condominium units — and 10,000 different condo corporations for their residents — Government and Consumer … [Read more...]

Canada tightens mortgage rules to help cool blistering Toronto, Vancouver housing markets

Canada is raising minimum down payments on some government-insured mortgages, a move aimed at curbing the risk of a housing crash in Toronto and Vancouver where high prices are leaving some families at risk from heavy debt loads. Finance Minister Bill Morneau announced the plans on Friday morning in Ottawa. The required down payment on homes worth at least $500,000 will rise to 10 per cent from 5 per cent starting Feb. 15, 2016 — however the … [Read more...]

REALTOR.ca adds personal accounts – more features and security

REALTOR.ca introduced one of its most significant features: REALTOR.ca accounts. Also included in this release is a security change making REALTOR.ca safer for all users. As of December 3, all of REALTOR.ca is behind a Secure Socket Layer (SSL) which will encrypt and protect all user data through property and REALTOR® searches as well as the new accounts feature. REALTOR.ca account benefits include: Access your Favourites from … [Read more...]