Home sales across Canada spiked by 11.3% in April compared with the previous month as activity in the housing market continued to gather pace. While April sales were 19.5% lower than the same month last year, CREA noted that the yearly decline was much less pronounced than in previous months – a sign that the [...]
So you may have heard (as I have been told by many) that the market is going down in value (or crashing) and that prices may drop up to 20% by next year. This is the media for you. Stories written and talked about by people who dont understand the market or what is happening [...]
10 Mistakes to Avoid in Rent-to-Own For most people, a home is the largest purchase they’ll ever make, so choosing the wrong property can have disastrous implications for their wallets and well-being. Still, many homeowners feel a strong sense of pride in putting their mark on the property, building equity and having a place to [...]
Wondering how the rate increases (and subsequent stress test increase) would impact your ability to qualify for a mortgage? Suppose your household income is $120,000, you have good credit and you want to buy a condo in a major urban centre. Let’s say the property taxes are $2,400 and the condo maintenance/strata fees are $360 [...]
After plummeting more than 40% since February, home sales are showing signs they may be reaching a bottom. Keep in mind this is NOT prices BUT sales. This is key as there are many factors to cause this - low supply of houses and of course the increasing interest rates are keeping buyers on the [...]
