Fixer-uppers not for the faint-of-heart – Ask a Vancouver Mortgage Broker

When Eileen Muzzin and her partner, Dan Pedersen, were searching for a home in Vancouver, they knew they wouldn’t be buying a place with granite countertops or a peekaboo view. With a modest budget – by Vancouver standards – they ultimately decided on a fixer-upper on the city’s east side. The couple got a 2,000-square-foot […]

First-time homebuyers are feeling the weight of Canada’s housing boom

Many times over the last few years, John Norquay has been stricken with pangs of anxiety over not being a homeowner. Should you rent or own your home? Bank of CanadaPeople say that when you grow up, you buy a home. But owning doesn’t make sense for everyone and in some cases, it might be […]

Canada housing starts cool in August, seen slowing further

TORONTO — Canadian housing starts cooled more than expected in August, while the previous month was also revised slightly lower, data showed on Tuesday, setting the stage for what is widely expected to be a slowing housing market as 2014 draws to a close. A report from the Canada Mortgage and Housing Corp showed the […]

Toronto home prices still growing, with more gains to come

A lukewarm summer didn’t cool off Toronto’s red hot housing market which remains in sellers’ territory, according to the city’s realtors. The average price of a home in the country’s largest market continued to rise, reaching $546,303 for the region — an 8.9% increase from a year ago. In the much sought-after detached home segment […]

Canada house prices expected to rise further, fuelling fears of meltdown

The risk of a property market crash in Canada has not ebbed, according to an increasing number of analysts polled by Reuters who said chances of a steep fall in prices have increased in the past year. Still, the survey medians showed house prices will likely rise more than earlier expected at least until 2017, […]

Tracking foreign buyers in Canada’s housing boom: Can we do it? Should we even care?

A third of people buying homes in Canada may be foreigners, says one real estate company. A leading economist says the number isn’t even 5%. The country’s housing agency says it has no idea what the actual number is. CMHC leaves out question of foreign condo investors, but economist says it’s only 5% A survey […]

Single-family homes for under $400,000 drying up in Calgary

Move over Toronto and Vancouver, Calgary’s condominium sector is red hot. The oilpatch set a new record for condominium resale activity for the month of August with a 14% increase in sales from a year ago. Townhouse sales were even stronger with a 20% jump from a year ago. Meanwhile, single-family home sales declined during […]

Mortgage rate drop means housing more affordable RBC study finds Vancouver and Toronto still the least affordable

Housing across Canada became more affordable in the second quarter of this year because mortgage rates dropped, according to a report from RBC. Even with prices moving higher, homes became more affordable in nearly every market across Canada, according to RBC’s Housing Trends and Affordability Report. The least affordable markets were Toronto and Vancouver, where […]

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 […]

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