At a news conference in Toronto yesterday, Canada’s Finance Minister, Jim Flaherty said the government will buy up to an additional $50 billion in insured mortgages by the end of the fiscal year. That will bring to $75 billion the total amount of money available under the program, announced last month. The aim of the […]

While the US real estate market is bottoming out, according to the annual Emerging Trends in Real Estate 2009 report released by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC), Canadian real estate industry players are approaching 2009 with caution, but are somewhat more positive.
“US housing woes haven’t extended to Canada, where banks and regulators […]

In August, the Canadian Real Estate Association forecast a 2.6 per cent increase in national housing prices for 2008 and another 2.1 per cent next year. Yesterday, CREA released a new forecast, calling for a 0.6 per cent slide this year and a further 2.1 per cent drop in 2009. “This is in line […]

GTA sales down 35%; Toronto down 38%
Toronto Real Estate Board Members reported 5,155 sales in October, down 35 per cent from the 7,915 sales reported in October of 2007, and also down 25 per cent from the 6,876 sales reported during October 2006. Within the City of Toronto, 2,136 sales were recorded. This was down […]

The Greater Toronto Area resale housing market reported 5,155 sales in October, Toronto Real Estate Board President Maureen O’Neill announced today. This represents a 35 per cent decline from the 7,915 sales reported in October 2007 and a 25 % decrease from the 6,876 transactions that took place during the same period two years ago. […]

Several pricey markets drag averages down in September
The Canadian Real Estate Association says the falling average sale price nationally is a reflection of a decline in sales in the highest-priced markets, noting that prices are still rising in a majority of markets. The Ottawa-based group, which represents more than 100 boards across the country, said […]

A panel of real estate industry experts says: The resale housing market in the Greater Toronto Area is still heathy. More than 1,100 Greater Toronto Area realtors gathered to hear some of Canada’s top real estate industry experts talk about the future of the housing market at the Toronto Real Estate Board’s 88th Annual […]

Agents told to brace for tough times at the Toronto Real Estate Board annual meeting as industry leaders try to put a positive spin on an expected downturn in home sales and prices.
A crowd of more than 1,000 real estate agents and brokers, including many who joined in the boom and have yet to […]

Rental Transactions and Rental Rates both increase
Both leased transactions through the TorontoMLS system and monthly rents achieved in these transactions climbed in the second four-month period of 2008. Total units rented came to 4,297 (apartments and townhouses), up 12 per cent over the same timeframe in 2007. Meanwhile, benchmark two-bedroom apartments rented for $1,885 per […]

Bank of Canada warns of ‘mild recession’
In a surprise move today, the Bank of Canada sliced interest rates by only one-quarter of a percentage point to 2.25 per cent “” a milder cut than what many investors were expecting. In a statement, the central bank said major interrelated developments are having a “profound impact” on […]