Canadian housing market

Perhaps you have been wondering how a young family living in a detached home in Toronto or Vancouver can afford it. It could be that they already own another home. In fact, they may possess multiple homes as part of their investment strategy, new research has discovered. It’s no secret that the red-hot Canadian housing market has been driven by a number of factors including enormous demand, tight inventory and historically low borrowing costs. And in some markets, investors are a bigger factor than in others, with federal proposals to rein in accelerating prices.

Are investors making it more difficult for first-time homebuyers to get their foot in the door, amid sky-high valuations and bidding wars? For now, the industry is processing the data to…

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Canadian employers are struggling to find labor but this isn’t just reopening pains. Statistics Canada (Stat Can) data shows over one million vacant jobs in September. The common take is, this hiring boom is reopening pains as the economy grows. Further analysis of the same data set shows that might not be the case last month. Rising vacancies were met by a drop in people on payrolls, with little net change to employment. In the most recent month of data, people were just leaving the workforce faster than others could be hired.

Employers Need To Fill Over 1 Million Jobs

Canadian job vacancies have been soaring over the past few months. There were 1,014,560 vacant jobs in September, an increase of 16.4% from a month before. That’s roughly 143,560…

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The idea of a customized, new residential construction house is enticing to some prospective homeowners, but the process to get there can be grueling. Working with a buyer’s agent along the way can help ensure you negotiate the best price possible and avoid setbacks.

Traditional selling points like historic charm in existing homes may not seem so charming to everyone – that’s why many people seek out a newly built residence, find a lot in a masterplan community or enter into the process of building a home from the ground up.


“Each buyer has unique preferences as to what they look for in a potential home. A lot of people want to own a new home at least once in their life,” says Jack Ryan,…

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Statistics released by the Canadian Real Estate Association (CREA) show national home sales have already set a new annual record in 2021.

HIGHLIGHTS

  • National home sales rose 8.6% on a month-over-month basis in October.

  • Actual (not seasonally adjusted) monthly activity was down 11.5% on a year-over-year basis.

  • The number of newly listed properties climbed by 3.2% from September to October.

  • The MLS® Home Price Index (MLS® HPI) rose 2.7% month-over-month and was up 23.4% year-over-year.

  • The actual (not seasonally adjusted) national average sale price posted an 18.2% year-over-year gain in October.


 NATIONAL RESIDENTIAL STATISTICS

National Residential Statistics

Home…

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When inventory is low and buyer demand is high, chances are you’ll receive at least one cash offer—a promise to purchase your property that doesn’t depend on the buyer acquiring a mortgage. Buyers figure paying cash might help them stand out among multiple offers, but what’s in it for you as the seller? Here’s what sellers need to know about all-cash offers.

What is a cash offer?

Most offers on residential homes typically include three conditions: financing, an inspection, and a review of documents. When an all-cash offer is submitted, the buyer is telling the seller they have enough cash and investments to purchase the property, says Rochelle Cantor, a REALTOR® and broker with Engel & Völkers in Montreal.

“A cash offer doesn’t mean…

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Soaring Canadian mortgage debt might finally be showing some signs of cooling. Bank of Canada (BoC) data shows outstanding mortgage credit hit a high in September. Annual growth is now rising at one of the fastest rates in over a decade. However, the pace of borrowing is falling very quickly. This might be a sign we’re past the peak of growth for this credit cycle.

Canadian Mortgage Debt Hits $1.77 Trillion

Canadian mortgage debt reached a new record high and did so at one of the fastest rates in history. Mortgage debt for housing hit $1.77 trillion in September, up 0.7% ($11.5 billion) from a month before. The balance is 9.6% ($155 billion) higher compared to the same month last year. Only August’s annualized growth showed a larger dollar…

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If there’s a type of person who knows something about buying a ton of small gifts, it’s a real estate agent. They often celebrate their clients’ big sales and purchases by offering a small gift to commemorate the moment. This is why they know exactly how you can cross a lot of people off your holiday shopping list without having to break the bank. Here are some of their standby gifts.

Living Gifts

Maryam Kidwai with RE/MAX Escarpment Realty Inc. in Ontario has a few go-tos when she’s looking for a bunch of small gifts, like succulent plants. “These highly resilient, long-lasting plants are easy to care for and can create a calming and positive effect,” she says. “Show you care about your clients and go green.” 

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Canadian new home prices are growing at one of the fastest rates in history but they’ve begun to slow. The Statistics Canada (Stat Can) New Housing Price Index (NHPI) shows huge annual growth in October. Not quite as obvious, the growth has fallen from the August peak, which had been the largest since 1989. The level of growth historically has been followed by a breather, where incomes catch up. If it’s begun its descent from peak growth, this can see low to negative price growth become a reality soon.

Canadian New Home Price Growth Is Up 12%

Canadian new home price growth printed some huge numbers last month. The index increased 0.9% in October and was 11.5% higher than the year before. It’s a very large and unusual growth that’s really kind of…

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Thinking of heading south for the winter? Escaping the cold, snowy winters is certainly appealing, but before you don your sombrero, there are a few things to take care of at home. Prepping your house for a winter away is essential and can prevent expensive damage, burglary and excess energy bills. Here’s what you need to know.

Turn Off the Water

Water damage will probably be your biggest concern if you’re going away for the winter. To prevent any unpleasant surprises, it’s worth turning off your water supply. The only exceptions are if you have a fire sprinkler system in place and if you’re using a water heating system for your home. If you’re not sure whether you can turn off the water for your heater, always ask a professional for advice.

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Has there ever been a time in your life when you’ve seen a decorative pillow or a set of placemats and thought to yourself, “I could totally make that myself!” With a creative eye, a little bit of practice, and the right materials, you could easily take on a home décor sewing project that might even be better than what you can find in store. The best part about home sewing projects is that many of them are perfect for beginners and can even be made pretty quickly with little to no expense—hello, upcycling and recycling!

But what we truly love about easy sewing projects is that they also make for great gifts for friends and family, too—especially housewarming gifts. Read on to learn about five great home sewing projects you’ll be proud to show off.

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