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Average rent prices in Oshawa, Ont. have decreased by nearly 11 per cent over the last year and a new report suggests that the trade war with the U.S. might be behind the fall.
Hundreds of real estate investors in a company run by a media-savvy realtor that owns dozens of buildings across Ontario got a shock over the weekend when they were told their rent payments are in limbo.
Average home prices across Canada’s largest housing markets fell slightly in August, marking the eighth month-over-month drop in the last nine, according to a report released Thursday.
Canada Mortgage and Housing Corp. reports the annual pace of housing starts for August edged lower compared with July.
The Canadian Real Estate Association says home sales in August were down compared with a year ago as a fresh round of economic challenges threaten to dampen housing market momentum for the remainder of the year.
British Columbia home sales fell again in August on a year-to-year basis, although the real estate industry says a “gradual recovery” is underway.
Sales of previously occupied U.S. homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices.
Canada Mortgage and Housing Corp. said between 417,000 and 469,000 new housing units are needed per year across ownership and rental markets.
The average asking price for a rental unit in August was $2,035, down 4.8 per cent compared with a year ago.
The surge in global bond yields are increasing borrowing costs for households and companies, and household mortgages could be next.
Montreal-area home sales fell 13.1 per cent year-over-year in August as the province’s real estate board says the market is continuing to go through an 'adjustment period.'
As cottage prices continue to climb in other parts of Canada, buyers have expanded their search and many now want to own property in Nova Scotia.
Home sales in the Greater Toronto Area were down in August compared with a year ago as prices also continued to fall.
Home sales in the Vancouver region dropped 4.6 per cent last month compared with a year ago, continuing a lag since May that is expected to persist.
High-income earners, many of them employees at AI companies, are snapping up multimillion-dollar houses in the San Francisco Bay Area, undaunted by the higher mortgage rates and rising home prices that have prevented many would-be buyers from affording a home.
Home sales in Calgary fell 16.4 per cent in August compared with the same month last year as prices also fell overall.
