Risk of Toronto’s Housing Bubble Eases, Though Market Continues to Be Overpriced
The surge in interest rates and the rapid increase in inflation have contributed to mitigating the housing bubble risk in Toronto. Nevertheless, the real estate market in the city remains significantly overpriced. In the recently released UBS Global Real Estate Bubble Index for 2023, Toronto secured the seventh spot with a score of 1.21. This […]
Real Estate Optimism Remains High Among Urban Canadians, Survey Finds
A recent survey conducted by the Mustel Group for Sotheby’s International Realty Canada reveals that Canadians who live in large cities remain confident in real estate as an investment, despite high interest rates and an uncertain economy. The survey involved 2,000 Canadian adults between 18 and 77 years old living in Vancouver, Calgary, Toronto, and […]
CREA predicts 4.8% drop in average home price by end of year, followed by 4.7% rise in 2024
The Canadian Real Estate Association (CREA) recently released its latest predictions for the country’s housing market, and the outlook is mixed. While home prices are expected to decline this year, the association anticipates a rebound in 2024. However, home sales are projected to drop in 2023 before recovering in the following year. According to CREA, […]
Buying a Home in Canada Now Requires Higher Income, Report Shows
According to a report by Ratehub.ca, homebuyers in Canada now need a higher income to be able to purchase a house, despite the fact that home sales have risen nationwide in March. Although 41,636 homes were sold across the country, a 1.4% increase from February, this number is still 34.4% lower than what it was […]