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Bank of Canada cuts overnight interest rate to 4.5%
Bank of Canada cuts overnight interest rate to 4.5%
UPDATED WITH QUOTES, REACTION: The Bank of Canada has cut its overnight interest rate a further 25 basis points to 4.5 per cent, a move widely welcomed in the housing development and construction industries and by potential homebuyers.
Jasper wildfire evacuees find refuge in B.C. town
Several dozen Jasper evacuees who fled their Alberta town Monday had congregated in Valemount, B.C., waiting to find out when they could go home. Then, they learned firefighters guarding their homes had been forced to pull out.
Sales of GTA new homes were at a record low, now 50% lower
Developers in the Greater Toronto Area experienced another slow month for new home sales in June, bringing year-to-date sales to less than half of the record-low seen in 2023, the Building Industry and Land Development Association announced Wednesday.
B.C. home sales rise as average Vancouver price hits peak
Housing market activity in B.C. picked up pace in June, following months of low sales volume. Seasonally adjusted MLS home sales in B.C. came in at 6,166 units, increasing by 2.8 per cent month to month.
OREA CEO Tim Hudak steps down after 7 years
After seven years spent at the helm of the Ontario Real Estate Association (OREA), Tim Hudak has revealed that he is stepping down as chief executive officer. His last day will be August 2.
GTA luxury home sales remain ‘surprisingly active’
The GTA’s luxury real estate market has remained “confident” and “surprisingly active” in the first half of the year, defying the headwinds of elevated interest rates and a stagnant economy that have dragged down other areas of the housing market.
Sellers in Toronto wonder: Is it time to slash prices?
Sellers in the Toronto-area real estate market are tussling with tough questions in a summer of slow sales. Deciding whether to slash their asking price is at the top of the list.
How Toronto got into its condo market mess
OPINION: Many have little choice but to stay out of the housing market as the cost of homes exceed the carrying capacity of most families. Instead, they rely on rentals, of which many are inadequately proportioned condos owned by investors.
Ontario’s cottage market ‘very quiet’ despite rate cut
Ontario’s cottage real estate market has remained “very quiet” following the Bank of Canada’s June rate cut, and unless there’s a deeper drop in interest rates, prices could be headed downward, says one expert.
Vancouver’s price per square foot most expensive in Canada
The latest numbers released by Century 21 show Vancouver’s West Side, downtown Vancouver, and West Vancouver are the most expensive places to buy in the country. A detached home in the West Side fetches $1,161 per square foot.
Federal govt. invests in 4,894 affordable homes in Vancouver
The federal government has announced more than $197.2 million in contributions and low-cost loans through the Affordable Housing Fund to help build and repair of nearly 5,000 affordable homes in Vancouver.
Lethbridge home prices up 16.2% in one year
Between all residential property types, Alberta Real Estate Association says homes in Lethbridge cost an average of $402,527, an increase of 16.2 per cent from the same time last year and 5.6 per cent from just one month ago.
First Nations group breaks ground on subdivision
Wabaseemoong Independent Nations broke ground on a new subdivision that will provide homes for its members. The space, northwest of Kenora, Ont., enables the building of 63 residential lots and associated roads.
How will home sales change over the next 10 years?
OPINION: We are set to see a massive transfer of wealth over the next decade in our country. If this transfer of wealth is returned to real estate, it most likely will cause values to spike and inventory to shrink.
Calgary buyer backtracks on deal for turn-key bungalow
Agent Joel Gwillim sold this two-bedroom Calgary bungalow to a colleague’s client before it hit the market. Months after the contract was signed, and days before the closing date, the buyer backed out of the deal.
Canada’s best cities for renters in 2024
By looking at 24 metrics spanning three categories (housing and economy; quality of life; and community), Point2Homes ranked Canada’s 100 largest cities to see which emerged as havens for those who embrace the renter’s lifestyle. St. John’s, N.L. finished first.
Tired of rising rents, group aims to keep housing affordable
When a six-unit building went on the market, its tenants were faced with a difficult task: finding new units with below-average rent. But the building was bought by the Ottawa Community Land Trust with a pledge to keep it affordable — forever.
Real estate’s AI revolution
Canadian real estate boards and associations are making their data available to software developers that are using it to fuel algorithms to predict market trends, property values and even the likelihood of a home being sold at a particular price.
U.S. homebuilder stocks stage a wild rally amid Fed cut hopes
A torrid rally in U.S. homebuilder stocks that’s put the group on track for its best month this year shows few signs of stopping. The S&P Composite 1500 Homebuilding Index is up 18 per cent so far in July.
U.S. real estate market is broken for everyone except the ultra rich
One of the least affordable U.S. housing markets in decades is freezing residential real estate sales and shutting out a generation of aspiring homeowners. But one group remains unfazed by the crisis: the wealthy.
Industry Events
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Canadian Home Building Association: National Fall Meetings
Oct 21 2024
to Oct 25 2024
Ottawa, Ontario
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Canada Real Estate Auction
Oct 22 2024
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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Housing Central Conference
Nov 18 2025
to Nov 20 2025
Sheraton Vancouver Wall Centre Hotel, BC
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