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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
Real Estate in Canada
Toronto's condo crisis signals more pain for housing affordability, rental market
- Various statistics show the GTA's condo market is "clearly in recessionary territory," and the nationwide housing crisis is at a level not seen in over 30 years, a report from CIBC and Urbanation says.
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Costs you need to know about when purchasing a home
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Real estate news across Canada
- BusinessBloomberg
US Existing-Home Sales Drop to One of Slowest Paces Since 2010
(Bloomberg) -- Existing-home sales in the US slumped to one of the slowest paces since 2010 in June, as sellers wait for mortgage rates to fall further and buyers balk at stubbornly high prices.Most Read from BloombergWhat Initial Polling Data Show About the Trump-Harris MatchupA Six-Second Decision Shows How Harris Snapped Up DelegatesHarris Has Enough Delegates to Clinch Nomination for PresidentWiz Rejects Google’s $23 Billion Offer, Seeks IPO InsteadTrump Floated Jamie Dimon for Treasury Secr
- NewsCBC
P.E.I. on pace to build more social housing than what's promised in strategy
The P.E.I. Housing Strategy, released in February, promises 560 new social housing units over the next five years, but Rob Lantz says that is not necessarily the limit."We haven't set specific targets," Lantz, the province's housing minister, told CBC News."We're making significant investments and building and purchasing as quickly as we can."The strategy also sets a target of 10,000 new home builds over that same five-year period. If the province reaches that, 560 social housing units would rep
- NewsCBC
Alberta sets record for housing starts in first half of the year, says CMHC
The Canada Mortgage and Housing Corp. says Alberta is boasting higher construction activity compared to last year, with housing starts up 54 per cent — setting a record pace over the first six months of the year.Based on data going back to 1990, the first half of this year is a record for housing starts.The housing agency released its latest report on Tuesday. It said that over the first six months of the year, Calgary had 11,178 housing starts, which is up 38 per cent compared to the same perio
- BusinessCBC
Sales of new and presale condos plummet in the GTHA, data firm says
Relatively very few people are buying newly built and presale condos in the Greater Toronto and Hamilton Area — but even with supply now at a record high, prices haven't budged much. Those are some of the key takeaways from the latest condo market update from Urbanation, a real estate data firm that's been tracking housing sales in the region for more than 40 years.The market survey focused on the second-quarter of this year, and the findings paint a bleak picture for condo sales.Sales of newly
- BusinessBloomberg
US Housing Starts Increase on Pickup in Multifamily Construction
(Bloomberg) -- New US home construction picked up in June, though a decline in single-family housing starts to an eight-month low underscored a real estate market challenged by high interest rates. Most Read from BloombergUS Floats Tougher Trade Rules to Rein In China Chip IndustryHigh-Flying Chipmakers See Worst Plunge Since 2020: Markets WrapCanada’s Immigration Minister Has a Message for Foreign Students: You Can’t All StayBrookfield Lines Up a 36-Year-Old Rising Star as Next Billionaire CEOB
- BusinessBloomberg
Ares Management Expands Office Space on Manhattan’s Park Avenue
(Bloomberg) -- Ares Management Corp. is expanding its offices at a building near Manhattan’s Grand Central Terminal, an area that has become a magnet for Wall Street’s biggest players.Most Read from BloombergUS Floats Tougher Trade Rules to Rein In China Chip IndustryHigh-Flying Chipmakers See Worst Plunge Since 2020: Markets WrapBlackRock Says Gunman From Trump Rally Appeared in Firm’s AdAmazon Sold a Used Diaper. It Tanked a Mom-and-Pop BusinessTrump Security Tightened on Iran Plot Intel; No L
- BusinessCBC
Toronto newcomers paying up to 12 months' rent up front to secure housing
Andrea Carranza and her husband vied for at least a dozen condo units when they first arrived in Toronto last summer. Every single landlord rejected their application. "It was really frustrating. They were really crappy places, but they still said no," said Carranza, who worked at IBM in Lima, Peru, for nine years before leaving the politically unstable country. For two months, Carranza and her husband slept on a couch in a small, one-bathroom apartment in downtown Toronto that they shared with
- NewsCBC
Timelines change for Bridgeland Place redevelopment
The last tenants moved out of Bridgeland Place last year, but it's less than clear when anyone will be moving back in.It's also unknown when the city's plans to redevelop land around the affordable housing building will move forward.The high rise, which first opened in 1971, was closed by the city early in 2023. There were concerns about its failing heating and water systems, as well as the condition of its outdated and aging units.The city-owned Calgary Housing Company (CHC) is responsible for
- BusinessYahoo Finance Canada
Canada real estate: Home sales edge up in June, but market remains subdued
"It wasn't a 'blow the doors off' month by any means, but Canada's housing numbers did perk up a bit."
- BusinessCBC
Fewer home sales and lower average housing prices in Canada compared to last year
Real estate activity across Canada in June showed a drop in both sales and housing prices compared to June 2023, says the Canadian Real Estate Association, though sales perked up a bit compared to May 2024. According to the latest numbers from CREA, home sales activity as registered in the Canadian Multiple Listing Service (MLS) went up by 3.7 per cent between May and June 2024. However, monthly sales activity was 9.4 per cent lower compared to June 2023.The average home price in Canada for June
