OTTAWA - The number of Canadian homes sold so far this year is slightly higher than projected and it looks as if 2014 will show a rebound, according to a new forecast by the Canadian real estate industry's main association.
Ottawa, ON, June 17, 2013 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS® Systems) of Canadian real estate Boards and Associations in 2013 and 2014.
Ottawa, ON, June 17, 2013 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales improved in May 2013, building on gains recorded in the previous two months.
Keeping up with the Jones' has always been a rite of passage for many homeowners. When your next-door neighbours pave their driveway, you put in cobblestone; when you put in a fountain, they put in a pool. But take a trip down the Bridle Path neighbourhood in Toronto and you'll quickly discover keeping up with the Jones’ means bulldozing the old mansion and rebuilding another with an extra six rooms in mind. Welcome to Canada's richest neighbourhood.
OTTAWA - An overbuilt and overpriced condominium market is posing a risk to Canadian households, banks and the economy in general, the Bank of Canada warned Thursday in its latest review of the health of the country's financial system.
Earlier this week, some Canadian banks hiked the fixed rate on their five-year mortgage term by 20 basis points to 3.29%. Not surprisingly, housing bears are proclaiming that mortgage rates are now in an uptrend that will collapse the housing market. What the data really say.
Up to one-quarter of the cost of a new home in the GTA is the direct result of government fees — especially municipal development charges that have skyrocketed in less than a decade, according to a new report by the building industry.
It may sound crazy — or at least contrarian — in the midst of a softening condo market, but U.S. development giant Hines and Canada’s biggest condo builder, Tridel, are about to launch the first phase of a $1.1 billion new community on Toronto’s easterly waterfront.
More than half the global population lives in cities, according to a new report from Citi and the Economist Intelligence Unit. And they account for 80% of GDP. In the next 30 years, nearly all growth is expected to come from cities. Cities in North America and Europe will continue to be the world’s most competitive till 2025.
Canadian housing starts jumped much more than expected in May from April, the Canada Mortgage and Housing Corp said on Monday, in the latest sign that the broader economy is gaining momentum in the second quarter.
OTTAWA, June 10, 2013 — Housing starts in Canada were trending at 182,756 units in May compared to 182,971 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.
Ottawa - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
Finance Minister Jim Flaherty said steps he took to tighten mortgage lending rules over the past four years have helped to moderate price increases in the nation’s housing market.
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