The house Market

Canada’s economic recovery likely forged ahead in the first quarter, with a recovering export sector and red-hot housing market bringing total output to the cusp of its pre-pandemic level.Statistics Canada is expected to report on Tuesday that gross domestic product expanded at an annualized pace of 6.8 per cent in...

Greg Bonnell ReporterFollow|ArchiveCanadian homebuyers will face a tougher mortgage stress test starting next week, one that will reduce their buying power and possibly contribute to a cooling of the market that’s already in progress.And while new regulations often create a rush of buyers looking to get in ahead of a...

The Calgary Real Estate Board says sellers are looking to cash in on an active housing market, as prices continue to close in on their previous peak in 2014.The CREB says 2,989 homes were sold last month, which was a record for the month of May, although a decrease from...

The COVID-19 pandemic will have a significant and long-lasting impact on Canadians’ willingness to return to the office, according to new estimates from the nation’s statistics agency.Up to one quarter of hours worked could be remote after the health crisis ends, Statistics Canada said Wednesday in new calculations based on...

Canadian officials escalated efforts to cool the nation’s booming housing market, moving ahead with tighter mortgage qualification rules after the central bank issued a fresh warning against buyers taking on too much debt.Prime Minister Justin Trudeau’s government set a new benchmark interest rate on Thursday afternoon to determine whether people...

U.S. home prices surged the most since the end of 2005 as a shortage of properties to buy fueled bidding wars.Nationally, the S&P CoreLogic Case-Shiller index of property values climbed 13.2 per cent in March, the biggest gain since December 2005. That came after a jump of 12 per cent...

Bank of Canada Governor Tiff Macklem said recent gains in home prices aren’t sustainable and warned households against taking on too much mortgage debt because interest rates will eventually rise.In an opening statement at a press conference to discuss financial stability, Macklem said some households have taken on “significantly” more debt, with...

Sales of new U.S. homes declined in April by more than forecast as higher prices continued to restrain demand.Purchases of new single-family homes fell 5.9 per cent to a 863,000 annualized pace following a downwardly revised 917,000 in March, government data showed Tuesday. The median estimate in a Bloomberg survey of...

If it sounds too good to be true, it almost always is. A new trend in the Toronto real estate market, in which realtors are listing residential homes in the Greater Toronto Area for only a dollar, has left some buyers with questions. Listings such as 16 Kenrae Rd. and...

Mortgage rates in the U.S. rose for the first time this month.The average for a 30-year loan was 3 per cent, up from 2.94 per cent last week, Freddie Mac data showed Thursday. It was the first time since mid-April that the rate was at or above 3 per cent.Rates...

Canadian home sales fell from a record in April as a resurgence of COVID-19 cases and lockdown measures slowed the country’s red hot housing market.National home sales fell 12.5 per cent from the previous month, as new listings also declined 5.4 per cent, according to a report Monday from the Canadian Real...

OTTAWA - Canadians looking to buy homes will face stiffer mortgage tests in a few days as the federal government and a national regulator tighten rules in the wake of new warnings from the central bank that households are piling on too much debt. In its latest financial system review,...

U.S. mortgage rates fell for a second straight week, dropping closer to the lowest on record.The average for a 30-year loan was 2.94 per cent, down from 2.96 per cent last week and the lowest since Feb. 18, Freddie Mac data showed Thursday.The 30-year average, which hit a record low...

WeWork, the office-rental company most closely associated with entrepreneurial excess, has seen demand bounce back in the aftermath of the COVID-19 pandemic, and inquiries from potential customers exceed what they were before nationwide lockdowns, its executive chairman said.“The demand for WeWork space today is higher than it was prior to the pandemic,” said...

The median price for a single-family home in the U.S. rose the most on record in the first quarter, as buyers fought over a dearth of inventory, according to the National Association of Realtors.Prices jumped 16.2 per cent from a year earlier to a record high of US$319,200. The growth...

The shift in the nature of work and consumer shopping habits brought on by the COVID-19 pandemic is on full display in the downtown Toronto commercial real estate space.   New reports by commercial real estate services firm JLL said the office vacancy rate in the downtown core rose to...

Activity in Canada’s residential real estate market will moderate from the “unsustainable” levels seen so far this year, though sales will remain at an elevated pace and prices will continue to climb for years to come, according to the latest forecast from the national housing agency.The number of homes to...

Mortgage rates in the U.S. dipped to the lowest level in almost three months.The average for a 30-year loan was 2.96 per cent, down from 2.98 per cent last week and the lowest since Feb. 18, Freddie Mac data showed Thursday.Lower borrowing costs have fueled the pandemic housing market, increasing...

Runaway home-price growth in Canada's largest housing market stalled last month amid signs prospective homebuyers could be tapped out.There were 13,663 property sales across the Greater Toronto Area in April, according to data released Wednesday by the Toronto Regional Real Estate Board (TRREB). While that represents a 362 per cent...

Vancouver home sales bounced back from pandemic lows last month as sales surged 342 per cent year-over-year, according to data from the Real Estate Board of Greater Vancouver (REBGV).Residential home sales in the region totalled 4,908 last month, driven by heightened demand in the Metro Vancouver area, which helped push the...