Found 3 blog entries tagged as real estate trends.

In October 2023, 529 homes changed hands through the MLS® System of the Newfoundland and Labrador Association of REALTORS®, a slight dip of 1.1% from the previous year. Though sales trailed the five-year average by 3.5%, they soared 8.4% above the 10-year average for October.

Year-to-date figures showed a 16.2% drop in home sales, with 4,470 units sold in the first 10 months of 2023 compared to the same period in 2022.

St. John's residential activity rose by 5.6%, contrasting with a 3.6% dip in the rest of the province. Single detached home sales in St. John's experienced a 6.3% boost from October 2022.

The MLS® Home Price Index (HPI) indicated a composite benchmark price of $292,400 in October 2023, up 3.9% year-over-year. Single-family…

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As the housing market continues to rebalance, alternative homebuying trends could help more people achieve homeownership. For some would-be first-time homebuyers who are ready to invest but struggle to save for a down payment or fret having high monthly mortgage payments, renting with a roommate can help split the costs, but it doesn’t build equity – a key component to building wealth. The prospect of buying a house with someone, even if it’s not a romantic partner, comes to mind. But will the benefits outweigh the potential risks?

In this blog post, we'll explore this innovative approach to homeownership, its benefits, potential challenges, and everything else you need to know about this millennial-approved trend.

What is Homebuying with…

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It’s looking like we’re going to be seeing similar real estate trends in 2023 compared to last year.

Following a year defined by market highs and lows, experts are forecasting a gradual return to a more balanced market towards the end of 2023. However, with inflation remaining more or less unchanged at the tail-end of 2022, last year’s trend of diminished purchasing power seems likely to persist.

As for what that means for mortgage lending, Shaun Cathcart, Senior Economist at the Canadian Real Estate Association (CREA), predicts primary-based mortgage payments will continue to rise dramatically until the Bank of Canada (BoC) reaches its terminal rate. 

Variable rate mortgages will hit their ‘trigger rate’

“The ‘terminal rate’ as it’s…

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