Even the most bullish housing observers would have had a tough time anticipating just how quickly Canada would bounce back from the pandemic shock that froze up market activity in the late winter and spring. But, after what RBC Senior Economist Robert Hogue calls a “spectacular rally,” the market has fully recovered and then some. […]
It was another record-breaking month for the Canadian housing market. September sales rose 45.6 percent over the previous year with no obvious signs of slowing after several months of remarkable levels of buyer activity. Sales rose in almost all Canadian housing markets in September, amounting to a nationwide total high that was enough to beat […]
Wuhan, the city at the center of the coronavirus pandemic, had the most tourists of any Chinese city during a public holiday in October. Wuhan is overcoming its pandemic past and benefiting from its hero-city status to become a top travel destination
Bank is assuming no widespread lockdowns are coming back, and that there will be a vaccine by 2022 The Bank of Canada says it has no plans to change its benchmark interest rate until inflation gets back to two per cent and stays there, something it says isn’t likely to happen until 2023. The central […]
From Canada Day to the summer wind down at the end of September, buyers fanned out across Toronto’s ‘905’ suburbs and scooped up 3,834 new condo units. The surge in buyer activity over 2020’s third quarter meant that new condo sales in the 905 region jumped 106 percent when compared to the same period a […]
Canadian home prices posted across-the-board monthly gains in September, led by the Ottawa-Gatineau and Quebec City markets, for the second-strongest September on record, data showed on Tuesday. The Teranet-National Bank Composite House Price Index, which tracks data collected from public land registries to measure changes for repeat sales of single-family homes, showed prices rose 1.1 […]
Despite a remarkable surge in new listings, the average resale condo price in the Toronto region rose 8.3 percent to $633,484 in the third quarter. The third quarter data, published today by the Toronto Regional Real Estate Association (TRREB), showed that condo sales rose in the July to September period by 10.5 percent compared to […]
Last week was the Vancouver Real Estate Forum. Benjamin Tal (chief economist at CIBC) opened things up, as he usually does, and he was pretty candid about what might be coming this winter. Here is an excerpt from a recent Globe and Mail article summarizing the event: “It’s reasonable to assume that the next six […]
Google continues to expand its footprint on Canadian soil with the expansion of three massive new offices, two of which will be in Ontario and a third in Quebec. Our fine city will be home to one of the province’s new spaces, setting up shop on King Street East, while the other two offices will […]
September was another banner month for the Toronto region’s housing market and no property type was hotter than detached homes in the suburban areas surrounding the city. Of the 30 suburban regions tracked by the Toronto Regional Real Estate Board, 10 saw detached home prices climb by over 20 percent last month compared to September […]
Here’s some data from the Pew Research Center looking at the percentage of young people (18- to 29-year olds) in the US that live with at least one parent. It it based on an analysis of monthly Census Bureau data and is obviously interesting/relevant given that this pandemic seems to have precipitated a number of […]
Home sales in major markets across the country delivered more impressive increases in September as activity continued to rebound from the lows seen in April and May. Market data published over the last week by local real estate boards saw trends first observed in the early summer remain fairly uniform across the country, especially the […]
The Toronto real estate market continued its brisk pace in September setting a new record for the number of sales for the month at 11,083, according to the latest market statistics from the Toronto Regional Real Estate Board (TRREB). Although 2019 was a good year for Toronto real estate, and despite a major slowdown caused […]
Summer may have drawn to a close but the Toronto real estate market remained hot well into the start of the new season, with September being a record-breaking month for home sales in Canada’s largest city. According to the Toronto Regional Real Estate Board (TRREB), it was the best September on record for home sales […]
Toronto’s housing market continued on a tear in September, breaking the record for homes sold in the month and exceeding 11,000 total transactions for the second time in three months. The 11,083 homes that changed hands in the region last month also meant that September was the third consecutive month that the Toronto market broke […]
Fact: living in Toronto is expensive. Exactly how expensive depends on where you live in the city and what you live in — obviously. But new data from shows just how much prices for apartments and single-family homes have fluctuated over the past five years and it’s safe to say, prices have definitely gone up. […]
If one thing’s for certain, the Toronto luxury real estate market has remained resilient in the face of the global pandemic. And while Ontario braces itself for the already-in-motion second wave of the novel coronavirus, according to Royal LePage, there are currently interesting buying opportunities in the Toronto and Greater Toronto Area (GTA) luxury condo […]
In light of the past six months of COVID-19-triggered uncertainty, home sales in Canada have been shockingly brisk as a combination of FOMO and low interest rates keep drawing buyers into the market. The feeding frenzy won’t last – plenty of organizations are expecting a major correction in the coming months – but waiting until […]
The last few weeks of summer was an “unusually” busy time for the Greater Toronto Area (GTA) new home market, as over 4,500 new homes were sold, according to the Building Industry and Land Development Association (BILD). On Monday, BILD announced that a total of 4,539 new homes sold last month, up 217% from August […]
Population growth — so, immigration — is a crucial demand driver for the real estate industry, and for the growth of the overall Canadian economy. Last year, Canadian immigration averaged about 28,400 people per month, according to a recent equity research report (on the apartment sector) by TD Bank. The total number for 2019 was […]
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