Canadian Real Estate | Latest News and Updates

The latest real estate news for housing prices, mortgage rates, markets, luxury properties and more at Yahoo Finance Canada.

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Experts answer your Canadian real estate questions

After a rapid increase in home prices in the Greater Toronto Area (GTA) and the Vancouver area, people are left wondering what they should do. Viewers wanted to know about interest rates, where prices will go, monetary policy, cap rates, and the spread between detached and condo prices. We’ve been getting monthly updates from the ground floor from Realosophy Realty’s John Pasalis and Oakwyn Realty’s Steve Saretsky, who help make sense of it all, with advice for anyone buying or selling a home. Also See: The latest real estate news for housing prices, mortgage rates, markets, luxury properties and more at Yahoo Finance Canada. They answered viewer question on a wide range of topics. If you have questions, email them to and John or Steve will answer them on the next episode. Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains. Download the Yahoo Finance app, available for Apple and Android.
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Real estate news across Canada

  • CBC

    May rent surge in N.B. was province's highest recorded in 43 years

    The cost to rent an apartment in New Brunswick surged so much in May, it forced the province's entire inflation rate above the national average and is renewing calls among tenant advocates for the Higgs government to rethink its opposition to rent control. "We've been warning the government that this was going to happen," said Matthew Hayes with the NB Coalition for Tenants' Rights "This is going to spark a massive housing crisis that's going to cost the public in New Brunswick a lot of money to

  • The Canadian Press

    Millions fear eviction as US housing crisis worsens

    NEW YORK (AP) — More than 4 million people say they fear being evicted or foreclosed upon in the coming months, just as two studies released Wednesday found that the nation's housing availability and affordability crisis is expected to worsen significantly following the pandemic. The studies come as a federal eviction moratorium is set to expire at the end of the month. The moratorium has kept many tenants owing back rent housed. Making matters worse, the tens of billions of dollars in federal e

  • CBC

    'Very frightening' plan by developer to buy $1B in homes will price renters out: anti-poverty group

    An anti-poverty group is calling a Toronto-based developer's plan to buy $1 billion worth of single-family homes and turn them into rental properties a "frightening" example of how even more people will be priced out of an increasingly expensive housing market. The plan, reported by the Globe and Mail on Monday, would see Core Developments Group build a single-family home rental business by buying housing stock in medium-sized cities across Ontario, including London, Kingston, Hamilton, Barrie,

  • The Canadian Press

    US home construction up a moderate 3.6% in May

    WASHINGTON (AP) — U.S. home construction rose 3.6% in May as builders battled a surge in lumber prices that have made homes more expensive The May increase left construction at a seasonally adjusted annual rate of 1.57 million units, the Commerce Department reported Wednesday. Applications for building permits, looked to for indications of activity ahead, fell 3% in May to a seasonally adjusted annual rate of 1.68 million units. Housing has been one of the standout performers during the pandemic

  • Bloomberg

    Lumber Set to Snap 8-Day Slump Ahead of U.S. Housing Report

    (Bloomberg) -- U.S. lumber futures are set to snap an eight-session losing streak as traders who bet on price declines cashed in ahead of Wednesday’s U.S. housing starts report.Traders betting against lumber sold off short positions in futures contracts on expectations that the key housing report will show a steady number of homes were built in the U.S. in May, said Brian Leonard, an analyst with RCM Alternatives in Chicago.“We are $800 from the highs, so a steady report would bring shorts out o

  • The Canadian Press

    May home sales fell 7.4 per cent, but on pace for record level this year: CREA

    Home sales across the country are starting to fall back from highs seen earlier in the year, but the Canadian Real Estate Association still expects the number of transactions during 2021 to set a new record. May's 56,156 sales were a 7.4 per cent drop from April's 60,638, the association reported, and month-over-month sales declines occurred in close to 80 per cent of all markets. The number of transactions in May was a significant drop compared with a year ago, when the COVID-19 pandemic was sp

  • Bloomberg

    World’s Second Bubbliest Housing Market Starts to Look Fatigued

    (Bloomberg) -- One of the world’s bubbliest housing markets appears to be slowing down.Canadian home sales dropped for a second straight month in May as both buyers and sellers appeared to pull back from the frenzied pace that has made the country’s housing market among the hottest in the world. It places second in the Bloomberg Economics global bubble ranking, behind only New Zealand, so everyone from policy makers to homeowners will be tracking how any slowdown in Canada proceeds.“We now have

  • Bloomberg

    U.S. Homebuilder Sentiment Falls to 10-Month Low on Cost Concern

    (Bloomberg) -- Confidence among U.S. homebuilders declined in June to a 10-month low as elevated costs continued to dampen demand for new homes.A gauge of builder sentiment fell to 81 this month from 83, National Association of Home Builders/Wells Fargo data showed Tuesday. The median forecast in a Bloomberg survey of economists called for no change from a month earlier.The decline in sentiment indicates that continued elevated costs for some building materials and labor are keeping some buyers

  • Yahoo Finance Canada

    Canadian real estate: CREA says sales fell in 80% of markets in May

    Prices remain elevated, up 24.4 per cent as measured by the MLS home price index.

  • CBC

    Average Canadian house price up 38% compared to last year, but down from March

    The average selling price of a Canadian home was $688,000 last month, a figure that has risen by more than 38 per cent in the past year. The Canadian Real Estate Association (CREA), which represents real estate agents across the country, said in a news release Tuesday that while prices are still up sharply from a year ago, the gains appear to be moderating. The $688,000 figure is down from $696,000 in April and just over $716,000 in March, which suggests that while comparisons to the early days

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