No matter what statistics show, Canada’s housing boom is about to end, experts say

It might be hard to convince some Canadians the end of the housing boom is near based on new statistics from the Canadian Real Estate Association which show prices still rising.   Marriages, of course, get into trouble for all kinds of reasons, and rarely are they simple ones, but divorce lawyers and those in […]

Canadian home sales fall for first time in nine months

OTTAWA — Sales of existing homes cooled in September as they fell 1.4% on a month-over-month basis, the first monthly decline since January, the Canadian Real Estate Association said Wednesday. The association said sales through its Multiple Listings Service were down in about 60% of all local housing markets last month. CREA president Beth Crosbie […]

While Toronto’s housing boom rolls on, some of the housing itself is falling apart

While Toronto’s housing boom rolls on, some of the housing itself is falling apart TORONTO — Toronto has more than 100,000 units under construction as developers and investors seek to cash in on condo prices that are up 25.7% in the city over the past five years. The trouble is, many buildings are so poorly […]

Average Canadian house price up 5% to $401,585, CREA says

With Toronto, Vancouver out of equation, average home worth $327,988 The average price of a Canadian home was $401,585 in July, a five per cent rise compared to last year. The Canadian Real Estate Association repeated its claim that booming sales in the large, pricey markets of Vancouver and Toronto are skewing the national average higher. If […]

Housing sales in July highest since early 2010

Sales of existing homes rose for the sixth month in a row in July, hitting their highest level since March 2010, as some of the country’s softer real estate markets sprung to life. Cities such as Montreal, Ottawa, Victoria, Winnipeg and Halifax received a sales boost from June on a seasonally adjusted basis, even as […]

Lenders Worries – Consult with a Vancouver Mortgage Broker

Not many lenders go on record forecasting a housing bubble, but what they say in private surveys is another matter. FICO, a consumer analytics firm, released poll results on Tuesday that show just how concerned lenders are about housing overvaluation. But its data, which was picked up by multiple media outlets, featured responses primarily from […]

Canadian home sales rise 0.8% to highest level in four years – Ask a Vancouver Mortgage Broker

Canadian existing home sales in June reached their highest monthly level in more than four years as prices continued to rise in some of the country’s hotter markets. But the housing market is becoming an increasingly local story with the disparity between hot and cold markets growing across Canada, something the Canadian Real Estate Association […]

Price surge fuels Canadians’ optimism about housing market to highest since before financial crisis – Consult with a Vancouver Mortgage Broker

Canadians are the most optimistic about the country’s real estate market in a more than six years as prices reignite. Secret path revealed for China billions buying pricey homes in Vancouver, N.Y., Sydney Allegations of Bank of China money-laundering has uncovered a scheme to sidestep currency restrictions that is fuelling property booms in Canada, U.S. […]

Can you afford a home in these cities? – Ask a Vancouver Mortgage Broker

Housing affordability is a national disaster that begs further investigation. The average national resale home price in May: $416,584. The annual gross income needed to afford that price based on a 5-per-cent down payment and a five-year mortgage: $89,363. The estimated median family employment income: $68,692. In that $20,671 shortfall is the considerably, but not […]

Monster May for housing sales doesn’t mean the market won’t slow – Consult with a Vancouver Mortgage Broker

May was a phenomenal month for existing homes sales across the country but the jump in activity might say more about the harsh winter than the state of the market. Calgary’s housing market making a dramatic comeback The Calgary housing market is so hot that an economist reported Tuesday that only 15 condominiums in the […]

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