The housing market could soon get “interesting,” economists say, as home prices and sales start to edge up, according to a pair of new reports released Friday. In its latest quarterly Home Price Update and Market Forecast, Royal LePage is forecasting that the aggregate price of a home in Canada will increase nine per cent in the fourth … Read more
The National Association of Realtors said on Friday it has resolved a slew of litigation accusing the trade group and brokerages of conspiring to keep real estate commissions artificially high nationwide. Under the settlement, the realtor group would pay $418 million over about four years. The accord also resolves claims against more than 1 million members, state … Read more
The Bank of Canada is trying to thread a needle. It’s keeping rates higher for longer at least in part because it’s worried a rate cut now could undermine the last two years of pain and progress. “We don’t want to keep monetary policy this restrictive for longer than we have to. But nor do … Read more
New home construction in Canada fell by 10 per cent in January compared to December, as fewer multi-unit urban homes, such as townhouses, were built, according to the country’s national housing agency. The Canada Mortgage and Housing Corporation said Thursday that housing starts came in at 223,589 units in January, down 25,379 from December. Many … Read more
January home sales jumped 22 per cent compared with a year ago, the largest year-over-year increase since May 2021, according to The Canadian Real Estate Association. The association says the increase reflected weakness last year, which saw the worst start to almost any year in the past two decades. Home sales in January 2024 were … Read more
Canada’s housing market is seeing some of the lowest annual sales volumes in more than a decade, according to the latest statistics from the Canadian Real Estate Association, even though December saw a jump in sales compared to the month before. In a statement, CREA noted that the annual home sales total of 443,511 units in … Read more
