Average one-bedroom condo rent soars 20% from last year: Toronto real estate board

TORONTO – The Toronto Regional Real Estate Board says the average cost for a one-bedroom condo soared by more than 20 per cent to $2,481 between the third quarter of this year and the same period last year. The board says the average rent for a two-bedroom apartment hit $3,184, a 14.5 per cent jump … Read more

CREA lowers expectations for home sales and price growth for 2022

OTTAWA – The Canadian Real Estate Association is cutting its forecast for home sales this year and lowering its expectations for price growth. In its latest housing market outlook released Thursday, the association said it expects 532,545 properties to trade hands via Canadian MLS systems this year, down 20 per cent from the 2021 annual … Read more

Toronto home sales down 34% from last year, up 15% from July: real estate board

TORONTO – The Toronto Regional Real Estate Board says August sales were down 34 per cent since last year, but up almost 15 per cent from July, as buyers returned to the market to take advantage of prices that eased from winter’s elevated levels. The board said Friday that sales for the month amounted to … Read more

Canada’s real estate market is cooling. Here’s what to expect this fall

TORONTO – After fueling Canada’s economy through the COVID-19 pandemic, the real estate market is showing signs of weakness as home prices fall and bidding wars dissipate. It’s welcome news for prospective buyers hoping for a better price. But as the busy fall season nears, realtors and economists are at odds about how long the … Read more

GTA home sales down 47% from last year, 24% from June: Toronto real estate board

TORONTO – The moderation of the Greater Toronto Area’s housing market intensified last month as the region’s real estate board found July sales fell 47 per cent from the same time last year and 24 per cent from this past June. The Toronto Regional Real Estate Board revealed Thursday that last month’s 4,912 sales were … Read more

May home sales down 39% from last year, prices up almost 10%: Toronto board

TORONTO – The Great Toronto Area housing market is becoming more balanced as May home sales dropped 39 per cent from a year earlier and prices rose almost 10 per cent, the Toronto Regional Real Estate Board said Friday. The Ontario board found last month’s home sales totalled 7,283, down from 11,903 in May 2021 … Read more

Canadians with mortgages brace for big Bank of Canada rate hike

The Bank of Canada is gearing up to announce its next move on interest rates this Wednesday, with Bay Street forecasters expecting a 50 basis-point increase to put Canadians with variable rate mortgages on edge and keep some prospective homebuyers on the sidelines. With variable rate mortgages pegged to the Bank of Canada’s decision, “interest … Read more