CP24 | Real Estate News

Increasing mortgage rates slowed home sales in April from the frenzied pace they started the year at, the Canadian Real Estate Association said Monday.

Prospective homebuyers saw clear signs of a cooling Toronto market in April as the region's real estate board reported sales dropped by about 41 per cent since last year and 27 per cent in one month. 1

Single-detached houses are still the most plentiful type of housing in Canada, but apartments and row houses are slowly catching up, the latest census data reveals.

Toronto’s condominium rental market continues to tighten after a brief slowdown earlier in the pandemic with the average cost of a one-bedroom unit now approaching the record high reached in 2019. 1

The Ontario government is introducing new real estate regulations that would allow home sellers to share bids on their property and disclose the details of competing offers. 3

Royal LePage is raising its forecast for 2022, despite some signs suggesting that the real estate market might finally be moderating after a frenzied run up in prices during the COVID-19 pandemic. 3

Canadians looking to save a down payment to buy their first home will have a new tax-free savings account to use starting next year. 14

The Liberal government will try to ease Canada's housing crisis with more than $10 billion in funding meant to speed up home construction and repairs as well as through a ban on home buying by foreign investors and tax measures to reduce speculation, while at the same time adding help for those trying to get into the market. 14