Tag Archives: Real Estate

CREA Cuts Forecasts

The Canadian Real Estate Association (CREA) cut its home sales forecasts for 2012 and 2013 and lowered its national average price predictions in a report issued earlier today. The new forecast eliminates 8,900 transactions from the previous 2012 forecast, but still calls for growth of 1.9% over 2011.  Of bigger concern is the 1.9% reduction in transactions forecast for 2013 bringing us back two years to the 2011 activity of … Read More

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Toronto Housing Prices Climb Out of Reach

In a report issued late last week, the Toronto Real Estate Board (TREB) announced that Toronto real estate prices were up 6.5% for the month of August compared with the same month last year.  The price growth was primarily driven by the low rise segment of the market which grew at an annual rate of 15%. 15% price appreciation is a crazy rate of growth especially given the predictions of … Read More

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Mortgaging Your Next Cottage

Cottage season is in full bloom or Cabin season if you’re from the West.  Now’s the time to enjoy the lazy hazy days of summer at your summer retreat before the season slips away.  Although it’s just started, the hot summer weather typically only lasts a couple months here in the great white north.  Of course now is also the time to be looking to upgrade your cottage or purchase … Read More

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CMHC Releases Canadian Housing Market Outlook

Canada Mortgage and Housing Corporation (CMHC) released their Second Quarter 2012 Canadian Housing Market Outlook on Thursday.  The Canadian housing market is expected to remain strong over the remainder of 2012 and for all of 2013.  This, in a nutshell, is the CMHC’s mid-term forecast for the housing market.  Although there will always be pockets that stray from the norm, it’s largely expected that we’ll have a balanced market with … Read More

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Home Prices Still Rising

Canadian real estate prices grew at an annual rate of 5.2% in April, according to the Canadian Real Estate Association (CREA).  Some refer to this as moderate growth while others scratch their heads and keep wondering when that 10% correction will come into play.  The problem with the bubble believers is that they’re ignoring the strong housing market fundamentals. The statistics suggest that Toronto’s real estate prices are catching up … Read More

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CREA Reports March 2012 Sales up From 2011

According to statistics released by CREA – The Canadian Real Estate Association – housing resale activity rose in March 2012 compared to the same month a year ago. The increase stood at 1.6% vs. March 2011, the smallest year-over-year increase since April 2011. It reflects moderate gains in a number of major centres, including Toronto, Calgary, Montreal, Ottawa, and Quebec City. Increases in these housing markets offset larger declines in … Read More

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Hot Condo Market Will Chill Mortgage Lenders

The number of Canadian housing starts was strong in March, rounding out a hot first quarter.  According to the Canada Mortgage and Housing Corporation (CMHC), the seasonally adjusted annual rate was 215,600 units in March – up from 205,300 in February.  “The upward movement in March was largely due to an increase in multiple starts, particularly in Ontario and the Prairies.”  Multiple starts refer to condo development as opposed to … Read More

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Jim Flaherty’s Budget Gets an “A” on Real Estate

The Real Estate Industry and the economy as a whole can take comfort that the freshly minted federal budget did not take further measures to tighten the mortgage market.  The minimum downpayment for purchases stayed at 5% and the maximum amortization remains untouched at 30 years. A significant lobby group consisting of several bank executives and economists will surely be disappointed that their recommendations were not incorporated.  These pundits were … Read More

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Annual State of the Residential Mortgage Market in Canada – CAAMP (Part 1)

The Canadian Association of Accredited Mortgage Professionals (CAAMP) in its most recent annual report of the Residential Mortgage market in Canada (Nov 2011) provided an interesting outlook on three different topics: Consumer opinions on several issues related to housing and mortgages Consumer choices in the mortgage market and satisfaction level Outlook for the housing and Mortgage markets The synopsis of this report will be presented in a series of three … Read More

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