Category: Uncategorized
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Millennials Lead Canadian Home Buyers
The avg age of a first-time home buyer in Canada is 36 yr. Baby boomers often seek smaller homes in small towns or rural areas.
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Changes are coming to mortgage rules. Will they help you afford a new home?
New mortgage rules effective August 1 allow first-time homebuyers 30 years to pay off insured mortgages for newly built homes, but experts believe this change won't significantly impact the housing market. While it may lower monthly payments slightly, high interest rates and down payment challenges persist. The government aims to address the housing crisis with…
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Edmonton No Longer Leads in Fastest-Rising Rent
Edmonton's rent ↑ 20.9% yearly, now $1,330 for a one-bedroom. Edmonton ranks 21st out of 23 in Zumper's list of most expensive Canadian cities for renters.
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Alberta’s Housing Boom Continues
Record increase in housing starts: 54% rise in first half of 2024, with over 21,500 new homes.Government reduces red tape: Policies aimed at lowering development costs and removing construction barriers.
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What’s trending in Edmonton real estate?
Edmonton's property values are increasing due to high housing demand from interprovincial immigration. Rental rates have risen, making it harder to find suitable rental properties. Buyers are choosing condos and newer homes for affordability. Apartment condos are relatively affordable, while townhome condos and rowhomes are popular for their space and affordability. Demand is shifting from…
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How Is Edmonton Outperforming in Real Estate in 2024?
Edmonton’s home sales ↑ 10% yearly, reflecting strong demand in the market. New listings in Edmonton ↑ 1% yearly.
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What’s Hot? Top Edmonton Real Estate Trends
Property values in Edmonton have risen due to record demand from interprovincial immigration. Rental rates have increased, and suitable rental properties are harder to find than 2 or 3-yr ago.
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Alberta’s Real Estate Market: Hot or Not?
Red Deer townhouses are the cheapest in Canada at $222/sq ft. Alberta saw significant price ↑ , with Calgary ↑ 17% and Edmonton ↑ ~ 10%.
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Alberta Sets Housing Construction Record
Alberta saw the highest housing starts for the first six months of the year. Housing starts in Alberta rose by 54%, compared to Canada's 7% increase.
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Slow resurgence of Canada’s real estate market to begin later in 2024
Canada's real estate market is expected to slowly rebound in the second half of 2024, with increased sales and tightening market conditions. The Bank of Canada's rate cut in June led to a slight improvement in housing numbers. Home sales rose by 3.7% from May to June 2024 but were down by 9.4% compared to…