The Current State of the Market

The Canadian housing market is experiencing a noticeable downturn. Recent data from the Canadian Real Estate Association (CREA) highlights a reduction in property listings and sales, continuing a downward trend that's been evident over the past few months. This decline is significant, as it reflects broader economic and social factors impacting the housing sector.

Listings and Sales Ratios: Indicators of Market Health

October saw a 2.3% fall in new listings, lead...

The numbers for February's house sales are in and are showing an increase in the average home price across Canada. The average price of a residential property has crossed the $500,000 mark in February 2017.

The price increase was driven largely by the Greater Toronto Area and surroundings as current supply cannot keep up with demand. The Canadian Real Estate Association president Cliff Iverson says the competition between buyers is less of a problems in other major Canadian cities.

The average...

Where are average home prices heading? A recent forecast report published in March from the Canadian Real Estate Association is shedding some light into the average residential price across Canada. 

The 2016 National Average for residential sales was $490,033 which translates into a 10.8% increase over 2015.

The Forecast report shows the provinces with the biggest percentage increase being Ontario at 15.6% and Prince Edward Island at 5.2%. The National Average is estimated to be $513,500 which...