Real Estate Blog - market update

Canadian Real Estate Prices Expected To Decline 3.3% in 2023 – Why This Could Be Good News for Buyers

Posted by Infinity Admin on March 4th, 2023

It is no secret that the Canadian real estate market has been shifting over the last year. Home prices have tumbled, and sales activity has fallen. The Bank of Canada (BoC) has been raising interest rates since March 2022 to return the annual inflation rate to its two-per-cent target rate. In the process, this tightening campaign has increased mortgage rates and cooled off Canada’s red-hot housing sector.

But with the central bank still expected to pull the trigger on rate hikes for the next few months to ensure inflation has been defeated, what does this mean for the Canadian real estate market, especially with the typically busy spring buying season?

It could be a terrific opportunity for homebuyers, especially with…

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Market Update - Newfoundland & Labrador Association of REALTORS®

Posted by Infinity Admin on April 10th, 2022

Newfoundland and Labrador MLS® home sales surpass Q1 2021 totals; new listings return to historical average for this time of year

The number of homes sold through the MLS® System of the Newfoundland and Labrador Association of REALTORS® totaled 443 units in March 2022. This was down modestly by 2.9% (13 sales) from March 2021.

Home sales were 35.7% above the five-year average and 47.4% above the 10-year average for the month of March.

On a year-to-date basis, home sales totaled a record 1,138 units over the first three months of the year. This was an increase of 12% from the same period in 2021.

Residential activity in St. John’s was up modestly by 3.3% on a year-over-year basis in…

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