Real Estate Blog - real estate market

Atlantic Canada Real Estate Activity Continues to Heat Up

How is the Atlantic Canada real estate market performing in the era of rate normalization? Eastern Canada has been a hotbed of growth for the last two years, from population gains to economic resuscitation. With the coronavirus pandemic turning the housing industry upside down and triggering a change in consumer patterns, the Maritimes region is enjoying a renaissance. But while there is the uncertainty of higher interest rates and a post-crisis national economy reopening, experts are confident that this part of the country will survive the next phase of the economic cycle.

In the meantime, market analysts are combing through the data to determine just how well places like Prince Edward Island and Nova Scotia are doing in this environment. Experts…

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What Is A Housing Bubble? And Are We In One?

What is a housing bubble? You’ve undoubtedly heard the term, but what does it actually mean, and is Canada experiencing one? Whether you already own a home, are considering buying one in the near future, or you’re waiting for the right time to sell, here we answer what is a housing bubble, what causes it, and how it may affect you.

What is a Housing Bubble?

A housing bubble happens when the price of homes rises quickly, at an unsustainable rate. Typically, a price-growth rate that’s in the high single-digits is considered to be healthy and sustainable. Under healthy conditions, homeowners continue to earn equity over time, sellers can make a profit on resale, and buyers can still afford to get into the market. This type…

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The Best Reasons to Hire a Real Estate Agent

It’s no secret that buying or selling a home can be one of life’s most stressful endeavors. With so many unknowns and variables at play, limiting stress during this event can help make the process more enjoyable; one of the simplest ways to help reduce the stress and anxiety attached to purchasing a home is to hire a real estate agent.

The Role of a Real Estate Agent

A real estate agent acts as the intermediary between buyers and sellers. The agent will connect the two and handle all legal negotiations to ensure the deal takes place without a hitch. A real estate agent helps clients sell, buy or rent their property. They also may guide the client when it comes to navigating the market, take them on showings, and assist…

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How to Navigate Multiple Offers – for Buyers AND Sellers

Is the pandemic housing boom slowing down? With the Canadian real estate market recording its first price drop in about two years, there is a growing expectation that the country could be on the cusp of a serious correction. But while it could be some time before sales activity returns to pre-crisis levels, many major urban centres and smaller markets that experienced impressive growth could still endure many of the same characteristics of a bullish housing market. Be it competition resulting in bidding wars, or homes selling over asking price, the lack of housing supply means multiple offers will likely remain a factor in the current market.

So, how do you even navigate this type of real estate market anyway?

How to…

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What Just Happened to the Canadian Real Estate Market?

Are the effects of the Bank of Canada’s (BoC) tightening cycle being felt in the Canadian real estate market?

For at least two years and probably longer than that, the nation’s housing market has been sizzling, with nearly every pocket of the country experiencing soaring prices and impressive sales activity. The laws of supply and demand have been in full force since the beginning of the coronavirus pandemic – inventory is low and demand has been strong – but historically low interest rates have also played a significant role.

When rates are low, prospective homeowners can take advantage of monetary conditions to increase their purchasing power and outcompete other buyers who may be interested in the same property. Now…

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Things To Consider in the Face of Rising Interest Rates

The Bank of Canada (BoC) has said it will be use its monetary policy to tamp down inflation, which currently sits at a 30-year high, joining the chorus of central banks worldwide trying to grapple with the rapidly escalating cost of living. So far this year, the BoC has already moved forward with rising interest rates three times, and Governor Tiff Macklem is preparing the financial market for more quantitative tightening in upcoming policy meetings.

But while the objective is to garner a stranglehold on a surging consumer price index (CPI) and producer price index (PPI), rate hikes will lead to financial pain for borrowers, investors and homebuyers.

Indeed, the Canadian real estate market is seeing the effects of a…

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Seeking Affordability? Spotlight on Newfoundland Real Estate

The national average home price in the Canadian real estate market hit $796,000

In March, up 11.2 per cent from last year. Price growth slowed slightly month-over-month, but many industry experts project that prices still have room for growth this year. But while the broader housing conversation has been on the affordability crisis impacting many markets across Canada, there are still some relatively affordable parts of the country. Wait a minute. There is still affordability in Canada? Yes. All you have to do is look toward the nation’s east coast, to Newfoundland real estate.

According to the Newfoundland and Labrador Association of REALTORS®, MLS® Home Price Index (HPI), which is considered a more accurate measurement than average or median…

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What You Need to Know About First-Time Home Buyer Budgeting

As a first-time home buyer, you probably already know you’ll need a chunk of cash for a down payment. But lots of other costs can creep up when it’s time to jump into the real estate market, so it’s a good idea to save up for them and be ready for when the time comes to make an offer. Here’s how one first-time home buyer is navigating this exciting time.

Start budgeting early 

When Montrealer Kelly Wong decided last summer to buy a two-bedroom condo or small home on her own, she knew she had lots of homework to do, including figuring out what she could afford. 

TIP: Using an online tool like our Mortgage Payment Calculator can allow you to see what your mortgage expenses will look like.

Wong also teamed up with Jean-François Gionet,…

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2021 RE/MAX Market Share Reports

The 2021 Market Share Reports are here and prove, yet again, that RE/MAX is #1! The #REMAXHustle never stops!

The RE/MAX Market Share Reports are great resources to show that RE/MAX Agents can get your home sold!

Market Share Reports show:

• RE/MAX agents sell more real estate than any other Canadian brand.
• RE/MAX is the most recognized name in real estate and #1 in brand awareness.
• Over 95 per cent of homebuyers and sellers know of RE/MAX.
• Each year, RE/MAX agents’ help hundreds of thousands of families buy or sell a home.

Connect with your own RE/MAX Agent today! #BrandPower

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2021 Housing Market - Year in Review

• Compared to 2020, home sales increased across Canada
• The price of homes across Canada increased compared to 2020
• Housing inventory hit an all time low
• The price of homes sold reached an historic high
• Record number of closings with over 115,000 more sales than in 2020, beating the record for that year

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