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...]

Scorching Toronto, Vancouver housing markets push Canadian home sales higher in October 2015

Canadian home sales grew in October to the second-highest levels in almost six years as demand remained strong in the red-hot real estate markets in Vancouver and the Greater Toronto Area. The Canadian Real Estate Association said Monday the number of homes sold through its Multiple Listing Service was up 1.8 per cent in October from the previous month. However, the gains weren’t shared across the country, as the number of markets where … [Read more...]

Average house price up 8.3% to $454,976 in October 2015

The average price of  a Canadian home increased by more than eight per cent in the 12 months up to October and is now worth $454,976, the Canadian Real Estate Association said Monday. But as has been the case for a while, the national average is being skewed higher by red hot markets in Toronto and Vancouver. If those two cities are stripped out, the average house sold for $339,059 and the year-over-year gain is reduced to 2.5 per … [Read more...]

Toronto house price growth could soon top Vancouver’s

Canadian home sales climbed 2.7 per cent in September from a month earlier, illustrating what economists see as a balanced market with no signs of a bubble about to burst. "September’s increase reflects strengthened activity in a number of major markets, led by Toronto," the Canadian Real Estate Association said today. "The monthly increase pushed national sales to its highest level since recently tightened mortgage regulations dampened sales … [Read more...]

CREA releases REALTOR.ca App for Apple iPhone

The Canadian Real Estate Association (CREA) has just released its REALTOR.ca app for the Apple iPhone. "This free application brings Apple iPhone users the features and functionality of the REALTOR.ca website, as well as some interesting device-specific features" said CREA president Georges Pahud. "Consumers today expect portable information and Realtors across Canada are happy to be providing this service." This REALTOR.ca app is free … [Read more...]

Canadian Home Sales Rise In November For Four Straight Months

Since home sales reached its bottom this year in July 2010, activity has picked up for four straight months, rebounding 19.5% in total. Why the low activity in July? Normally the summer months in real estate are dull due to people enjoying their summer vacations, no time to deal with the stress of moving. In addition, this July we saw the introduction of a new tax (H.S.T), tighter mortgage rules, and higher interest rates. “Sales activity … [Read more...]