Blog

October 14, 2023

Canadian Home Sales Experience September Slowdown

The latest statistics released by the Canadian Real Estate Association (CREA) indicate that national home sales have eased on a month-over-month basis in September 2023. Here are the key highlights from the report:

• Decline in Sales: National home sales witnessed a decline of 1.9% month-over-month in September.
• Year-over-Year Activity: The actual (not seasonally adjusted) monthly activity was 1.9% higher compared to September 2022.
• New Listings Surge: The number of newly listed properties surged by 6.3% on a...

October 4, 2023

September-2023 Housing Report Review

The Toronto Region Real Estate Board (TRREB) has just unveiled its September 2023 housing market report, and we're here to provide you with a concise overview of what transpired in the real estate scene for September.

In a slight departure from the previous month, the total number of residential transactions experienced a modest decline of -7.1% compared to the same period last year. However, this dip was relatively mild, just -1.8% when compared to the preceding month.

Interestingly, against the prevailing perception,...

September 12, 2023

Are you active in your community or do you have ideas on how to make it a better place to call home? Submit an essay of up to 1250 words answering one of the questions below and you could win $1000!

1. What does a “bright future” look like for you?

2. How have you demonstrated leadership or charity

within your community to make it a better place?

3. How can we ensure fair and affordable housing

for all Canadians?

Eligibility Criteria

To be eligible, entrants must be a Grade 12 student attending high school in Canada* in the September...

July-2023 Housing Report Review

The Toronto Region Real Estate Board (TRREB) has just released its July 2023 housing market report, and we've got a quick review to share with you!

Contrary to common perceptions, total residential transactions rose by 7.8% compared to the same month last year. However, they did decrease by 8.8% when compared to the previous month. The year-over-year Average Selling Price also saw a positive trend, rising by 4.2% from $1,073,213 to $1,118,374. These figures indicate the sentiments of both buyers and sellers in the current market.

The number of...

Date: Wednesday, July 12, 2023

In a widely anticipated move, the Bank of Canada announced today a 0.25% increase in the key interest rate, pushing it to reach 5%. This decision, while aimed at tackling inflationary pressures, has unleashed devastating consequences for borrowers, particularly first-time homebuyers whose dreams of homeownership are rapidly fading away. Additionally, current homeowners find themselves under immense financial strain, with many struggling to keep up with their mortgage payments, risking bankruptcy.

The implications of this interest rate hike are...

April 1, 2023

On March 27, 2023, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, announced amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act’s accompanying Regulations. These amendments are being introduced to make the purchase of housing more affordable for Canadians and enhance the flexibility of newcomers and businesses looking to contribute to Canada.

March 23, 2023

The latest news from Statistics Canada shows that inflation in February fell to 5.2%, a decrease from the previous month's 5.4%. The easing of inflation is largely attributed to lower energy prices and while grocery prices, in general, remained high, the growth in prices for other food items slowed down on a year-over-year basis in February compared to January, which includes non-alcoholic beverages (+11.1%), meat (+6.2%), vegetables and vegetable preparations (+13.9%), and bakery products (+13.9%).

The collapse of and the recent acquisition of Credit Suisse by UBS in a $3.25 billion deal was not entirely unexpected, given the bank's history of fraud allegations and questionable practices. Credit Suisse has faced allegations of tax evasion, money laundering, and insurance claims, among other things. The consequences of these activities by financial industry giants extend beyond local economies and have a global impact.

Dear Reader,

Spring is here, and it is time to start thinking about taking care of your home. With the warmer weather and longer days, it is the perfect time to tackle some home maintenance tasks and get your house in tip-top shape for the season. Here are some spring home care tips to help you get started:

March 6, 2023

February-2023 Housing Report Review

Toronto Region Real Estate Board (TRREB) has released its February-2023 housing market report, here is a quick review of the report for your benefit.

It seems like the market is still struggling, with a decrease in the number of residential properties exchanged ownership compared to last year. However, there is some good news with an uptick in the number of real estate transactions compared to January-2023.