. 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

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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

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 losing inventory to an attractive ..read more

Despite housing market forecasts suggesting Atlantic Canada would record significant losses during the real estate downturn, Canada’s east coast has remained strong this year. With prices still edging higher in a time of rising interest rates, a slowing economy and waning consumer demand, industry experts are surprised that places like Nova Scotia or Prince Edward Island are not crumbling under these conditions. The July market data offered some insight into the state of these provinces, including Nova Scotia’s real estate sector. Indeed, as the Canadian real estate industry maintains its dow ..read more

RE/MAX Canada Network expects Canadian housing market prices to decrease 2.2 per cent this fall RE/MAX brokers and agents anticipate prices in the Canadian housing market to ease by 2.2 per cent this fall, due to high inflation, rising interest rates and economic uncertainty Rising interest rates have prompted 44 per cent of Canadians to temporarily shelf their home-buying aspirations, while 34 per cent say they won’t hold on purchasing a home for the foreseeable future Recession worries have impelled 41 per cent of Canadians to wait to purchase/sell their home in fall 2022 Toronto, ON and ..read more

The Atlantic Canada real estate market continues to be one of the most impressive success stories of the last two years, and the country’s eastern seaboard has earned its exceptional gains. For decades, the east coast had suffered from a population exodus, a lackluster economy and a quiet housing market. This all changed in the aftermath of the first wave of the coronavirus pandemic, when the world seemed to turn upside down and consumer trends drastically evolved. Indeed, from Prince Edward Island to New Brunswick, Atlantic Canada is booming right now. In fact, the latest Statistics Canada d ..read more