Canadian home prices as measured by the seasonally adjusted Aggregate Composite MLS® Home Price Index (HPI) were flat on a month-over-month basis in February 2024, ending a streak of five declines that began last fall, according to the latest data from the Canadian Real Estate Association (CREA).
Renters face daunting barriers in their attempts to build wealth as they’re forced to devote an increasing share of their income to keeping a roof over their head.
The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest rate cuts are imminent.
A new report says the average asking price for a rental unit in Canada was $2,193 per month in February, marking a 10.5 per cent jump year-over-year and the fastest annual growth since September 2023.
Greater Toronto Area (GTA) home sales and new listings were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept home sales below the February sales record reached in 2021.
Equifax Canada says consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023.
Greater Toronto home sales and listings were up in February from last year, but adjusted sales were down from a month earlier, the region's real estate board said Tuesday.
The Bank of Canada is expected to preach patience at its interest rate announcement this week as economists say weakening economic conditions are setting the stage for rate cuts in the coming months.
The cost of living in Toronto went up nearly 20 per cent between 2017 and 2022 – but that’s less than half the increase seen in the city’s housing prices over the last five years, according to a new report.
Home prices in Canada are forecast to gain a bit this year and rise further in 2025 on relentless demand for housing amid scant new supply and prospects for interest rate cuts later in 2024, according to a Reuters poll of experts.
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