Gerry’s Blog
Since the Bank of Canada (BoC) started raising interest rates in the spring of 2022 at a time of post-crisis sky-high home prices, first-time homebuyers have sat on the sidelines amid a housing affordability crisis. They have been waiting to dip their toes in the Canadian real estate market in this span. However, two groups…
Homebuyers in the Toronto real estate market experienced a modest cool-down on the pricing front during the heat of summer, according to recent data from the Toronto Region Real Estate Board (TRREB). In July, the Home Price Index (HPI) composite benchmark, which is considered a more comprehensive measurement, showed that Toronto real estate prices tumbled…
Interprovincial migration may have slowed from year-ago levels, however overall net migration to Alberta continues to climb, sparking demand in the province’s affordable real estate market, according to a new report from RE/MAX. The Calgary condo market saw sales increase modestly by almost three per cent in the first eight months of the year, with…
Buying activity in the Edmonton condo market experienced a significant boost in 2024, with year-to-date sales almost 37 per cent ahead of year-ago levels, according to a new report from RE/MAX. Affordability continues to be the catalyst for activity, with 3,351 units changing hands, up from 2,452 sales one year ago, making 2024 the best…
After three consecutive interest rate cuts and the prospect of two more by year end, optimism is finally building in the Halifax condo market, according to a new report from RE/MAX. Average values have edged ahead of year-ago levels in the first eight months of the year, now sitting at $484,491 – up one per…
Downsizing empty nesters, retirees and first-time homebuyers fuelled steady demand in the Ottawa condo market in 2024, but the number of condominium apartments and walk-ups sold between January and August fell short of year-ago levels, according to a new report by RE/MAX. The Ottawa Real Estate Board reported just over 1,400 condominium apartments changing hands…
Demand in the Greater Toronto condo market has softened year-over-year, with sales off 2023 levels by eight per cent, according to a new report from RE/MAX. The 2024 Canada Condominium Report reveals that close to 16,800 condo apartments and townhomes changed hands between January and August 2024, down from 18,263 sales during the same period…
. Forward looking statements This report includes “forward-looking statements” within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “believe,” “intend,” “expect,” “estimate,” “plan,” “outlook,” “project,” and other similar words and expressions that predict…
. About the RE/MAX Network As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in almost 9,000 offices with a presence in more than 110 countries and territories. RE/MAX Canada refers to RE/MAX of Western Canada (1998), LLC and RE/MAX Ontario-Atlantic Canada, Inc., and RE/MAX…
As the beautiful autumn leaves give way to the chill of winter, many Canadians are faced with the task of closing their cottages for the season. Preparing it for the harsh winter months is crucial to preserving its condition and ensuring a stress-free opening when spring arrives. With tips specifically for Canadian cottages, here’s everything…
Owning a home is a keystone of wealth… both financial affluence and emotional security.