Gerry’s Blog
Is Kelowna, British Columbia one of the top emerging regions in the broader Canadian real estate market? One report suggests so. Earlier this year, Fundscraper assessed several key performance indicators (KPIs), such as income, housing prices, employment, and gross domestic product (GDP) per capita. What did the website discover? Kelowna was at the top of…
There are a variety of reasons that you might choose to sell your home before the mortgage term ends. The most common reason is that you are moving to a new location or that your family situation has changed, with the addition of children or adult children moving out. In all these cases, your home…
Inflationary pressures have flattened overall housing values in the Nova Scotia real estate market, however uncertainty continues to hamper home-buying activity across the board. Condominium sales have slowed in tandem, down 35 per cent year-over-year, to 545 between January and August of 2022, compared to 839 condo sales during the same period in 2021. The…
The condominium sector in the Ottawa real estate market is holding relatively steady, despite rising interest rates and some softening in the overall market. Almost 3,000 units have sold between January and August of 2022, down approximately 17 per cent from the 3,577 sales reported during the same period in 2021. Year-to-date average price remains…
Despite a late summer rebound in the condominium sector, buying activity in the Greater Toronto real estate market remains more than 30 per cent off last year’s robust levels. Between January and August of this year, almost 21,000 condominium apartments and townhomes were sold, a stark contrast to the 30,383 sales that occurred during the…
The Calgary real estate market has seen its condominium sector rising considerably in recent months, with apartment sales up almost 65 per cent year-over-year. Close to 4,600 condominium sales were reported between January and August of this year, up from 2,778 during the same period in 2021. Average price has followed in lockstep, with year-to-date…
The affordability factor continues to drive condominium buying activity in the Edmonton real estate market, with year-to-date sales (January-August 2022) up almost 23 per cent over 2021 levels, according to RE/MAX Canada’s 2022 Canadian Condominium Report. Nearly 5,000 condominium apartments and townhomes changed hands in the eight-month period, up from just over 4,000 during the…
Despite housing market forecasts suggesting Atlantic Canada would record significant losses during the real estate downturn, Canada’s east coast has remained strong this year. With prices still edging higher in a time of rising interest rates, a slowing economy and waning consumer demand, industry experts are surprised that places like Nova Scotia or Prince Edward…
One question many Canadians are asking is are higher fixed mortgage rates here to stay? At the September policy meeting, the Bank of Canada (BoC) raised interest rates by 75 basis points, bringing the benchmark rate to 3.25 per cent, maintaining its hawkish approach to monetary policy. The central bank signalled that it would be…
Despite recent softening in the housing market, home ownership in Canada is expensive and can be intimidating if you’re a first-timer. Luckily, there’s financial help and incentives for first-time homebuyers, which can help offset the cost of purchasing a new home. You don’t need to feel as if you have to do it all alone…
Owning a home is a keystone of wealth… both financial affluence and emotional security.