Share As if to help support talk that the housing market in Canada is not overheating, the CREA released data today that suggests that the home resales pace across the country is moderating. In January 2010, the number of seasonally adjusted resales dropped nearly 3% from the previous month. Sales were up 58% from January [...]
Share With the new rules announced by Finance Minister Jim Flaherty we could have thousands of home buyers, especially, the young, first time home buyer finding it harder to acquire their dream house. The new rules are expected to go into effect as of April 19th, and mean that borrowers must have higher incomes or [...]
Share Finance Minister Jim Flaherty is tightening mortgage rules in order to crack down on speculators and discourage homeowners from taking on too much debt. This is the attempt made to responding on the growing concerns that Canada’s housing market is getting too hot, although he stresses that there is no such bubble in Canada’s [...]
Share The Canadian Real Estate Association (CREA) has revised its forecast for home sales for the year bringing it upward, and it is now citing better economic conditions. CREA forecasts 527,300 sales this year, up 13.3% from 2009 levels. The previous forecast called for a 7% increase. The national average home price is forecast to [...]
Share As a buyer in the current housing market you will be looking forward to taking advantage of low interest rates and a surplus of inventory to go through. The problem that we have here is the time when interest rates rise and you have stretched the limits of your budget by choosing the maximum [...]
Share New research by the Royal Bank of Canada (RBC) suggests that recession weary Canadians are divided on the future of the country’s economy; however there is much more hope for the year ahead. According to the data, 60% of people across Canada feel that the national economy will improve in 2010 after 2009 being [...]
Share Canada Mortgage and Housing Corporation (CMHC) released their monthly Housing Outlook report on December 8th, 2009. Last month, we saw 11 single family homes had started in the city of Edmonton, with the number this yea being 297, it is a huge increase. For the year as a whole, single family home starts are [...]
