Canadian real estate watchers are expecting home prices and housing activity to rise in 2025 after a “recovery year,” but the Bank of Canada’s policy rate will still have sway over how quickly buyers come back. Royal LePage released its 2025 housing outlook on Thursday, forecasting the aggregate price of a home in Canada will…
Stalled home values, rising incomes and falling mortgage rates continue to deliver improvements in housing affordability in Canada, according to a report released Wednesday. And yet, National Bank of Canada estimates show the median household would need to double their annual earnings to qualify for a mortgage on a typical home across the country’s major…
The Canadian Real Estate Association is downgrading its housing market forecast for the remainder of the year again, saying the Bank of Canada’s interest rate cuts haven’t spurred the gradual improvement it previously anticipated. CREA said Tuesday it now thinks the national housing market will remain in “more of a holding pattern” until next spring…
Hopeful Canadian homebuyers may well have their pick of the litter when it comes to condos in many housing markets across the country, a new report from Re/Max Canada shows. The national brokerage said in its national condo outlook released Wednesday that listings in this segment of the market have “soared” in recent months. A…
Descrease article font size Increase article font size Easing home prices and drops in interest rates helped to reduce the income needed to buy a home in most major cities across Canada last month, a new Ratehub report shows. Comparator site Ratehub.ca said in a report released Wednesday that August saw declines in the minimum…
A summer start to interest rate cuts from the Bank of Canada failed to breathe new life into the Canadian housing market, with the national real estate association suggesting homebuyers are content to wait for cheaper borrowing costs before getting off the sidelines. The Canadian Real Estate Association (CREA) said Monday that home sales were…
Some long-unaffordable pockets of Canada’s housing market could open up to first-time homebuyers this fall as interest rates decline but experts expect prices will hold relatively flat. Activity in the Canadian housing market has largely been muted through much of the spring and summer despite the start of rate cuts from the Bank of Canada,…
The start of interest rate cuts from the Bank of Canada has done little to stoke a fire in the Canadian housing market, fresh data from July shows. The Canadian Real Estate Association (CREA) said Thursday that home sales retreated by 0.7 per cent month to month in July, giving back some of the jump…
The Bank of Canada is now less concerned about home prices spiking as it lowers its benchmark interest rate, minutes from the governing council’s latest meeting show. Deliberations from the July 24 meeting, where the central bank delivered its second consecutive quarter-point rate cut, were published on Wednesday. The Bank of Canada’s top monetary policymakers…
