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Canadian home sales took a breather in December but were still 10% higher in the fourth quarter compared to the third quarter as the Bank of Canada cut borrowing costs, data from the Canadian Real ...
Instead, by the end of 2021, the Canadian Real Estate Association's House Price Index had risen by 26.6%, the fastest annual pace on record. [50] Condominiums accounted for the bulk of new housing in BC (54%) and Ontario (59%), [ 51 ] and investors constituted an increasing share of the buyers of these units (41% in Ontario).
A real estate trend is any consistent pattern or change in the general direction of the real estate industry which, over the course of time, causes a statistically noticeable change. This phenomenon can be a result of the economy, a change in mortgage rates, consumer speculations, or other fundamental and non-fundamental reasons.
November 26, 2024 at 10:16 AM. ... "Looking into 2025, we look for a small improvement in new home sales based on our forecast for a small, gradual decline in mortgage rates over the course of the ...
Prospective homebuyers that exited the market in 2023 due to high home prices and mortgage rates may fare better in 2024. A new Realtor.com report predicts that the average mortgage rate in 2024 ...
The RPI is constructed to gauge price movement among non-distressed home sales and excludes sales of foreclosed properties.[1] The RPI has a lag time of about two months as a monthly tracking index. Specific indices are available for specific metropolitan areas, and composite indices are available for the top 10, 20, 30, and 100[2] metro areas.
Existing home sales declined in 2024 to the lowest level since 1995, while median home prices rose to a record high as elevated mortgage rates confound the market. ... rising 2.2% from November to ...
Though launched on 2 September 2019, the program only covers purchases closing after 1 November 2019. The buyers must repay the government aid over a period of 15 years. Via the FTHBI, the CMHC provides eligible participants with up to 5% of the purchase price of a resale home, and up to 10% of the purchase price of a newly constructed home.