CP24 | Real Estate News

Real estate observers say a new mortgage code of conduct promised in the federal budget will be handy for Canadians facing financial difficulties, but they still feel the economic plan was lacking needed housing affordability measures.

A luxurious home in midtown Toronto is on the market for nearly $7.7-million and comes packed with amenities – including its very own rock climbing wall.

A new survey suggests that despite high interest rates and an uncertain economy, confidence in real estate as an investment remains high among Canadians who live in large cities.

Home sales in Canada plummeted 40 per cent last month compared with a year ago, with new listings and prices also dropping in what one economist called “hints of a bottoming process.”

While Toronto has seen a significant dip in home prices as borrowing costs have gone up over the past year, other places in Ontario are seeing an even more dramatic drop according to a new report released Monday. 1

Greater Toronto Area home prices fell almost 18 per cent from last February - the largest year-over-year drop on record - as the number of properties sold was halved, the region's real estate board said. 1

The outlook for commercial real estate looks “bumpy” in the near term, but CBRE's 2023 forecast predicts a soft landing could still be in the cards.

House hunters looking to buy a home in Toronto need to make over $200,000 per year to crack into the market, according to new housing data. 1