HOUSING MARKET OUTLOOK Ontario Region HighlightsCanada MortgageHousing Corporation
OTTAWA, Ontario, Jan. 15, 2025 (GLOBE NEWSWIRE) -- The Canadian Real Estate Association (CREA) hasupdated its forecast for home sales activity and average home pricesvia the Multiple Listing Service®(MLS®) Systems of Canadian real estate boards and associations and expanded...
Number of new housing starts in Ontario Number of multifamily building permits in Quebec House prices Average house price Least affordable housing market in Canada Average resale house price Single-family house price in Oak Bay, BC Average house price in Alberta Average condo sales pric...
“I spoke to a builder recently who sold two houses in all of 2024. The market is already in a bad place, and there’s no saying how bad the fallout from this additional threat will be,” warned Scott Andison, CEO of OHBA. “Builders across the province are struggling to sur...
Prime Minister Trudeau said his government has a bailout package ready. In all seriousness, that cannot defect the full impact of a prolonged 25% tariff into the US. The Ontario economy is geared to the U.S. market and decoupling from it would take many years. Canada would need to develo...
In the second quarter of last year, 4.3 out of every 10 homes started in Canada were in the province of Ontario. This year, the ratio dropped to 3.2 out of 10. Unaffordable home prices in the Greater Toronto Area are one of the major reasons for the decline in that province’s residen...
In its latest report on national home sales and pricing data, the Canadian Real Estate Association said there have been softer market conditions since the end of last summer, with sellers joining potential buyers on the sidelines. While price declines have mainly bee...
Rental market conditions are expected to further tighten, placing significant upward pressure on rents. The Prairie provinces can expect more positive housing market conditions due to interprovincial migration and affordable homeownership. Ontario, British Columbia and Quebec will see significant drops in ho...
Together, these changes will remove barriers to many first-time buyers, but it will take time. Altus data shows that the average household income to buy a home in many parts of Southwestern Ontario tops $100,000, soaring above $200,000 in the GTA. The Greater Vancouver Area is the next...
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