A single-family home is now almost three quarters of a million, putting it out of reach for many Economists say high real estate prices in London, Ont., have put housing affordability at “crisis levels,” damaging the economy by making it difficult for local businesses to attract and retain labou

Limited purchasing power contributes to increasing sales in multi-family housing. The hotter it gets, the quicker the records seem to fall in Calgary’s resale real estate market. Case in point is May’s market that achieved new highs for benchmark prices and sales for the month — somewhat unex

Real estate agents take advantage of social media to sell to younger buyers As soon as he got his real estate licence, Brandin Strasser reached into his toolkit and started making posts on social media. “Most of them were just house tours; I didn’t talk too much because I didn’t feel like I h

What it’s like when rents, purchase prices and interest rates all rise at the same time. Like many Calgarians, Joss Engen was looking for a bigger house for his growing family and finding few options within their budget. They started looking in the $350,000 to $400,000 range. That was four ye

Most communities around Calgary are made up mostly of single-family homes, a more expensive housing choice than multi-family homes. Communities surrounding Calgary did not see the same record-breaking activity last month as Calgary proper as these largely single-family detached home communities

Higher interest rates are starting to hold back new buyers from the single-family home market. Edmonton’s resale real estate market is experiencing a different kind of recovery after a short-lived dip in activity over the last several months resulting from rising interest rates. Statistics fo

Canada’s luxury home market saw muted sales in the first quarter of 2023 as a shortage of conventional and top-tier inventory compelled real estate sellers and buyers to defer activity into the second quarter in anticipation of more property listings. But a recent report by Sotheby’s Internation

“It’s getting closer and closer to 2025. And we all know what’s happening in 2025” The Bank of Canada’s move to hike its benchmark rate by 25 basis points last week appeared to quell the prospect of rate cuts by the end of the year – and with a slew of mortgages coming up for renewal in the

In May, a one-bedroom in Toronto was going for $2,538 a month, while a two-bedroom captured $3,286 monthly. PHOTO BY MICHAEL PEAKE /Toronto Sun files Average rents in Canada rose 6.5 % in May — the lowest percentage annual increase since December 2021, according to a new report. However, Rent

Canada’s rental market experienced a slower annual increase in May, according to the latest National Rent Report by Rentals.ca and Urbanation.  While average asking rents rose by 6.5 per cent year-over-year, it was the lowest percentage increase since December 2021. However, despite this mod

STOREYS Real Estate News says markets across Canada have seen a “renewed fervour in recent weeks as buyers return from the sidelines, fuelled by a year of pent-up demand.” The national sales-to-new listings ratio (SNLR) hit 63.5% in March, according to the latest report from the Canadian Real Es

Calgary is only city showing an increase in price of average home Sometimes, waiting can be a pricey move. A buyer in Calgary today will need to earn $18,820 more in annual income to purchase the same house, compared with this time last year, according to a fresh report from Ratehub.ca, an or

The day after the city’s housing and affordability task force recommendations were voted down, Calgary city council had a change of heart and voted in favour of them, with some changes. Late Tuesday, councillors Dan McLean, Andre Chabot, Richard Pootmans, Jennifer Wyness, Terry Wong, Sonya S

Even though Calgary had record housing starts in 2022, supply isn’t keeping pace with demand. Calgary’s real estate market is struggling to keep pace with demand as inventories fall to near-record lows, and new home builds continue to face challenging conditions for labour and materials. “The

Housing prices in the city have increased each of the last four months, and this may have you looking for a more affordable living option outside of Calgary. The cost to buy remains very high, while rent prices in Calgary are going up faster than in any other city in Canada. Lucky for those l

A spike in condominium sales helped lift Calgary’s housing market last month A spike in condominium sales helped lift Calgary’s housing market to a May record for sales as the number of properties that changed hands reached 3,120 last month The Calgary Real Estate Board (CREB) said overall sa

Amid an affordability crisis that has been fuelled by housing costs, Calgary city council received a trio of reports and accompanying recommendations addressing Indigenous affordable housing, the housing and affordability task force and the Housing Accelerator Fund on Tuesday. In a 7-8 vote,

May data housing markets across Canada have shown signs of recovery, with sellers starting to reenter the market. While this increase in supply is a positive development for buyers struggling with limited inventory, it has not yet been enough to fully balance the demand-supply dynamics, acco

CFIB says 250,000 small businesses at risk of closure if CEBA loan repayment deadline not extended Small businesses in Canada are running out of time to pay back government-backed pandemic-era loans, and failure to do so by the deadline could force nearly a quarter of a million to shut their

Housing affordability near the worst it has been in more than 30 years A realtor’s sign outside a house for sale in Toronto. PHOTO BY CHRIS HELGREN/REUTERS/FILE PHOTO The housing market may be heating up again, but most Canadians are still waiting on the sidelines for mortgage rates to drop,