. Spotlight On Luxury Report Archives 2023 Spotlight On Luxury The post Spotlight on Luxury Real Estate (2024) appeared first on RE/MAX Canada ..read more

Real estate uncertainty has seeped into January 2024, and buyers in the Halifax housing market are banking of the prospect of lower interest rates down the road to revitalize home-buying activity. Demand remains relatively healthy in hot pocket areas, where well-priced properties are selling in short order, but in areas where greater selection exists, turnover is slow. Given the current high interest rate environment, many buyers are choosing to stay in place until the first interest rate cut is announced. Once that occurs, it’s expected that buyers will enter the market in full force, hopin ..read more

. *Leger online survey of 1,517 Canadians aged 18+ was completed between July 21 and 23, 2023, using Leger’s online panel. Leger’s online panel has approximately 400,000 members nationally and has a retention rate of 90 per cent. A probability sample of the same size would yield a margin of error of +/- 2.5 per cent, 19 times out of 20.  **This report includes data and insights about Canadian housing markets supplied by RE/MAX brokerages and sourced from the Canadian Real Estate Association and local real estate boards. RE/MAX brokers and agents are surveyed on market activity and loca ..read more

By now, many people observing the Canadian real estate market know how Halifax real estate and the broader Atlantic Canada housing sector have ballooned in the last few years, thanks to the pandemic-era policies and trends. From a population bomb to an improving economic landscape, Nova Scotia and its surrounding Maritime provinces have enjoyed incredible growth. But does it persist? This is the question that some might have if they have not paid attention to the latest numbers as of late. Moreover, will there be a homebuying opportunity heading into 2024? These questions – and other similar ..read more

. 2022 Condominium Report Condominium Market Share Continues to Climb in Major Canadian Real Estate Markets, as More Buyers Seek Affordable Housing Options Double-Digit Increases to Rental Rates Spark New Wave of Condo Buyers in Alberta Buyers from British Columbia and Ontario continue to be active in Alberta’s condominium market. The lion’s share of condominium activity is occurring at lower price points. In Toronto, for example, the bulk of condominium apartment sales now hovers in the $500,000–$700,000 range, down from $600,000–$800,000 earlier in the year. Condominium markets are lo ..read more

Rising interest rates. Increasing vacancy rates of commercial office buildings. Rampant price inflation. The commercial real estate market faces many challenges in today’s climate, and these trends are creating a shift in downtown economies from coast to coast, many of which have relied on the office sector for sustained long-term growth. Even as economies return to normal, many companies are continuing with their remote work-from-home policies. This has made centralized office locations redundant and an unnecessary costly expense. Although there have been pushes from organizations and govern ..read more

Pent-up demand and greater market stability drew buyers back into the Halifax housing market late in the first quarter and the trend continued throughout the second quarter of the year. ]Despite inventory challenges and high mortgage rates, more than 2,500 homes changed hands in the six-month period, down 23 per cent from strong 2022 levels. Housing values have bounced back to some extent, rising almost nine per cent between January and June, with average price now hovering at $560,000, just $9,000 short of the $569,000 reported one year ago. Detached homes remain most popular with move-up b ..read more

Is the Canadian economy in the process of slowing down? The latest GDP growth rates in October and November were not promising, with 0.1 and 0 per cent, respectively. As the Bank of Canada’s (BoC) interest rate increases travel throughout the financial system, many financial experts believe that national economic conditions could deteriorate this year. But don’t tell this to Atlantic Canada, which is anticipated to outpace the rest of the country on the GDP front. According to the Atlantic Provinces Economic Council (APEC), the region’s economy is forecast to rise 1.6 per cent this year, down ..read more

The post Canada Housing Market Risk Low, Despite Short-Term Contraction appeared first on RE/MAX Canada ..read more

The Atlantic Canada housing market has been sizzling since the early days of the coronavirus pandemic. But what differentiates the real estate markets in New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland and Labrador is how they have held steady, even as the broader Canadian real estate market experiences a correction. Although there have been forecasts suggesting that the eastern provinces could join the downturn, the numbers so far show that real estate activity in this part of Canada is not imploding. So, what do the data show? Let’s look at the latest trends in Atlantic C ..read more