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News from the Blog

Real Estate News Brought to you by Jeremy Osborne

BCREA Second Quarter Housing Forecast

BC Homes Sales to Post Strong Recovery in 2021 BCREA 2020 Second Quarter Housing Forecast To view the BCREA Housing Forecast PDF, click here. Vancouver, BC – June 10, 2020. The British Columbia Real Estate Association (BCREA) released its 2020 Second Quarter Housing...

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BCREA Stats Release

Housing Market Slows, but Resilient in Response to Pandemic Vancouver, BC – May 13, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 3,284 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April 2020, a...

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Royal LePage Market Forecast

National Home Prices to Show Remarkable Resilience in 2020 Best case scenario forecast shows Canada’s aggregate home price could grow a modest 1% by the end of 2020 If the pandemic continues to heavily restrict business activity through late summer, a national home...

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BCREA Economics

BCREA Market Intelligence Report The latest BCREA Market Intelligence Report: Is It Different This Time? Recessions and the BC Housing Market examines the impact of past recessions on the BC housing market and provides preliminary projections on how COVID-19 may...

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Pandemic Halts Sales Activity in March

Pandemic Halts Sales Activity in March For the complete news release, including detailed statistics, click here. Vancouver, BC – April 15, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 6,717 residential unit sales were recorded by...

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Bank of Canada announces emergency interest rate cut

In an emergency announcement on March 13th, 2020 the Bank of Canada announced a 0.5% reduction in its trend-setting overnight lending rate from 1.25% to 0.75%. This was a further reduction from the 0.5% cut announced just 9 days earlier at the regularly scheduled interest rate announcement. The announcement was part of coordinated action by… View More >

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Canadian home sales up in February

As providers of the most accurate and timely housing data and statistics, CREA cannot credibly update its quarterly forecast at this time. Ottawa, ON, March 16, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up between January and February 2020. Highlights: National home sales climbed 5.9%… View More >

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Bank of Canada cuts interest rates

In line with financial market expectations, the Bank of Canada announced, on March 4, it was lowering its trend-setting overnight lending rate by 50 basis points from 1.75% to 1.25%. This was the first change in the overnight lending rate since October 2018. This follows a day after the U.S. Federal Reserve cut the Federal… View More >

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Changes to the mortgage stress test

Ottawa, ON, February 18, 2020 – Earlier today, Minister of Finance Bill Morneau announced changes to the mortgage stress test. The new benchmark rate used to determine the minimum qualifying rate for insured mortgages, coming into effect on April 6, 2020, will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications,… View More >

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Canadian home sales down in January

Ottawa, ON, February 14, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined between December 2019 and January 2020. Highlights: National home sales fell by 2.9% on a month-over-month (m-o-m) basis in January. Actual (not seasonally adjusted) activity was up 11.5% year-over-year (y-o-y). The number of newly… View More >

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Gregory Klump retires after 28 years

Ottawa, ON, February 11, 2020 –  Gregory Klump, CREA’s Chief Economist, has retired from The Canadian Real Estate Association after 28 years. Klump joined CREA in 1992, serving as staff economist for the Association. Promoted to Chief Economist in 2005, he grew CREA’s economic and data team into an authoritative source of Canadian real estate data… View More >

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BC Housing Forecast Update

BC Homes Sales Carry Momentum into 2020 BCREA 2020 First Quarter Housing Forecast Update Vancouver, BC – January 23, 2020. The British Columbia Real Estate Association (BCREA) released its 2020 First Quarter Housing Forecast Update today. Multiple Listing Service®...

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Canadian home sales inch lower in December

Ottawa, ON, January 15, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales eased between November and December 2019. Highlights: National home sales declined by 0.9% on a month-over-month (m-o-m) basis in December. Actual (not seasonally adjusted) activity was up 22.7% year-over-year (y-o-y). The number of newly listed… View More >

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Housing Market Stats

Housing Markets Flat in 2019 After Strong Second Half Vancouver, BC – January 13, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 77,331 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2019, a decline...

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Royal LePage Q4 2019 House Price Survey

Canadians can expect a vibrant spring real estate market Royal LePage recommends a regional approach to mortgage stress test if federal government goes ahead with changes in 2020  Home prices increase 2.2 per cent in Q4 as buyers continue to move off the sidelines...

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Canadian home sales edge higher in November

Ottawa, ON, December 16, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales continued to edge higher in November 2019. Highlights: National home sales rose 0.6% month-over-month (m-o-m) basis in November. Actual (not seasonally adjusted) activity was up 11.3% year-over-year (y-o-y). The number of newly listed properties dropped… View More >

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Royal LePage 2020 Market Survey Forecast

Canadian real estate market to appreciate 3.2% in 2020 reflecting similar price growth in both condo and detached segments Low supply in the Greater Toronto Area expected to fuel home price growth in 2020 Greater Montreal Area forecast to see highest appreciation rate...

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Home Sale Firming Across the Province

Home Sales Firming Across the Province For the complete news release, including detailed statistics, click here. Vancouver, BC – December 12, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 6,616 residential unit sales were recorded...

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Home Sale Continue Normalization in October

For the complete news release, including detailed statistics, click here. Home Sales Continue Normalization Trend in October   Vancouver, BC – November 13, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 7,666 residential unit...

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Canadian home sales hold steady in October

Ottawa, ON, November 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were unchanged from September to October 2019. Highlights: National home sales held steady on a month-over-month (m-o-m) basis in October. Actual (not seasonally adjusted) activity was up 12.9% year-over-year (y-o-y). The number of newly listed… View More >

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BCREA 2019 Fourth Quarter Housing Forecast

BC Homes Sales Carry Momentum into 2020 BCREA 2019 Fourth Quarter Housing Forecast Vancouver, BC – November 6, 2019. The British Columbia Real Estate Association (BCREA) released its 2019 Fourth Quarter Housing Forecast today. Multiple Listing Service® (MLS®)...

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Canadian home sales rise again in September

Ottawa, ON, October 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up slightly in September 2019. Highlights: National home sales rose 0.6% month-over-month (m-o-m) in September. Actual (not seasonally adjusted) activity was up 15.5% year-over-year (y-o-y). The number of newly listed properties edged back by… View More >

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Altus Group Partners with CREA

Advanced AVM technology from Altus Group combined with extensive data from real estate boards and associations delivers first national Canadian index making it one of largest and most comprehensive in the world TORONTO (October 2, 2019) — Altus Group Limited (“Altus Group”) (TSX: AIF), a leading provider of software, data solutions and independent advisory services… View More >

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Statement from CREA in response to the Conservative Party

Ottawa, ON, September 23, 2019 — With Election 2019 underway, CREA welcomes today’s announcement that a Conservative government would introduce new measures to make it easier for first-time homebuyers to buy a home. “REALTORS® have long asked for common-sense solutions designed to help Canadians to purchase a home of their own,” said Jason Stephen, President… View More >

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Canadian home sales edge higher in August

Ottawa, ON, September 16, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up in August 2019. Highlights: National home sales rose 1.4% month-over-month (m-o-m) in August. Actual (not seasonally adjusted) activity was up 5% year-over-year (y-o-y). The number of newly listed homes climbed 1.1% m-o-m. The… View More >

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Quarterly Forecast

CREA Updates Resale Housing Market Forecast Ottawa, ON, September 16, 2019 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate boards and associations – for the rest of 2019 and looking ahead to 2020. Economic fundamentals underpinning housing… View More >

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Statement from CREA in response to the Liberal Party

Ottawa, ON, September 12, 2019 ⁠— With Election 2019 barely underway, CREA welcomes today’s announcement that a Liberal government would extend the eligibility requirements for the First Time Home Buyers’ Incentive (FTHBI) so that Canadians in higher priced markets can take advantage of the program. “REALTORS® welcomed the FTHBI when it was announced in the spring… View More >

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CREA launches its Election 2019 REALTOR® Resource Hub

Ottawa, ON, September 12, 2019 — The Canadian Real Estate Association (CREA) has launched an Election 2019 Resource Hub for REALTORS® called REALideas to share policy proposals to help Canadians achieve their homeownership aspirations. “Housing affordability is top of mind to Canadians who have been shut out of housing markets across the country. REALTORS® know that all… View More >

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Canadian home sales rise in July

Ottawa, ON, August 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up in July 2019 compared to June. Highlights: National home sales rose 3.5% month-over-month (m-o-m) in July. Actual (not seasonally adjusted) activity was up 12.6% year-over-year (y-o-y). The number of newly listed homes edged… View More >

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Canadian home sales hold steady in June

Ottawa, ON, July 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were little changed in June 2019 from the previous month. Highlights: National home sales edged back 0.2% month-over-month (m-o-m) in June. Actual (not seasonally adjusted) activity ticked up 0.3% year-over-year (y-o-y). The number of newly… View More >

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Canadian home sales rise again in May 2019

Ottawa, ON, June 14, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales climbed further in May 2019. Highlights: National home sales rose 1.9% month-over-month (m-o-m) in May. Actual (not seasonally adjusted) activity was up 6.7% year-over-year (y-o-y). The number of newly listed homes edged back by 1.2% m-o-m…. View More >

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Quarterly Forecasts

CREA Updates Resale Housing Market Forecast Ottawa, ON, June 14, 2019 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate boards and associations in 2019 and 2020. Many of the economic fundamentals that support housing activity remain strong… View More >

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Canadian home sales rise in April 2019

Ottawa, ON, May 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales climbed in April 2019. Highlights: National home sales improved by 3.6% month-over-month (m-o-m) in April. Actual (not seasonally adjusted) activity was up 4.2% year-over-year (y-o-y). The number of newly listed homes climbed 2.7% m-o-m. The… View More >

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Canadian home sales edge higher in March 2019

Ottawa, ON, April 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales edged higher in March 2019 after having declined sharply the previous month. Highlights: National home sales edged up 0.9% month-over-month (m-o-m) in March. Actual (not seasonally adjusted) activity was down 4.6% year-over-year (y-o-y). The number of… View More >

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Royal LePage Q1 2019 house Price Survey

Just Released: Royal LePage Q1 2019 House Price Survey and Market Forecast To: Royal LePage Broker-Owners, Managers, Sales Representatives and Administrators The Q1 2019 Royal LePage House Price Survey and Market Forecast was released to media early this morning....

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Mortgage Rate Forecast March 2019

The March issue of Mortgage Rate Forecast is now available on BCREA Online. Highlights: Mortgage rates falling to start 2019 Temporary slowdown in the Canadian economy or something more serious? How high? Mortgage stress test and the neutral rate Send questions and...

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Canadian home sales drop sharply in February 2019

Ottawa, ON, March 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales dropped sharply from January to February 2019. Highlights: National home sales plummeted 9.1% month-over-month (m-o-m) in February. Actual (not seasonally adjusted) activity was down 4.4% year-over-year (y-o-y). The number of newly listed homes fell 3.2% m-o-m…. View More >

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Canadian home sales improve in January 2019

Ottawa, ON, February 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales in January 2019 were up from the previous month but remained below levels recorded one year ago. Highlights: National home sales rose 3.6% between December 2018 and January 2019. Actual (not seasonally adjusted) activity was down… View More >

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Royal LePage Q4 2018 House Price Survey

Just Released: Royal LePage Q4 2018 House Price Survey Key highlights from the national release include: The price of a home in Canada increased 4.0 per cent year-over-year to $631,223 in the fourth quarter of 2018, continuing the recovery from the most significant...

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BC Home Sales Decline 25% in 2018

BC Home Sales Decline 25% in 2018 Vancouver, BC – January 15, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 78,345 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2018, a decline of 24.5 per cent...

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Canadian home sales fall further in December

Ottawa, ON, January 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales posted a fourth-straight monthly decline in December 2018. Highlights: National home sales fell 2.5% from November to December. Actual (not seasonally adjusted) activity was down by 19% from one year ago. The number of newly listed… View More >

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Canadian home sales activity softens further in November

Ottawa, ON, December 17, 2018 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales posted another monthly decline in November 2018. Highlights: National home sales fell 2.3% from October to November. Actual (not seasonally adjusted) activity was down by 12.6% from one year ago. The number of newly listed… View More >

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BC Home Sales Continue to Slow

BC Home Sales Continue at Slower Pace Vancouver, BC – December 14, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 5,179 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in November,...

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2019 Royal LePage Market Survey Forecast

Montreal Home Price Growth to Surpass All Major Cities in 2019 as Canadian Housing Correction Continues Economic, regulatory, and political headwinds to cool home price appreciation across Canada Greater Toronto Area to see home prices increase 1.3% at the end of 2019...

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Canadian home sales activity eases in October

Ottawa, ON, November 15, 2018 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined between September and October 2018. Highlights: National home sales fell 1.6% from September to October. Actual (not seasonally adjusted) activity was down by 3.7% from one year ago. The number of newly listed homes… View More >

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BC Home Sales to Rise in 2019

BC Home Sales to Rise in 2019  BCREA 2018 Fourth Quarter Housing Forecast Vancouver, BC – November 8, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 Fourth Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales...

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Royal LePage Q3 House Price Survey 2

Canadian Home Buyers Continue to Catch their Breath in the Third Quarter of 2018 The United States-Mexico-Canada Agreement (USMCA) is expected to increase demand as many Canadians regain confidence in job market and consider large purchases National real estate market...

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CREA unveils redesigned REALTOR.ca website

Ottawa, ON October 18th, 2018 – The Canadian Real Estate Association (CREA) recently launched an improved REALTOR.ca website design that features a simpler and more powerful search function, enhanced homebuyer calculators and access to highly anticipated school catchment areas.There are a host of smaller but impactful enhancements to the site navigation, REALTOR® profiles and listing… View More >

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REALTOR.ca Hackathon yields innovative new solutions

Ottawa, ON, October 15, 2018 – 77 developers and programmers signed up for the Canadian Real Estate Association’s (CREA) first ever REALTOR.ca hackathon over the weekend at Ottawa’s Bayview Yards. This is one of the many initiatives CREA is undertaking to ensure the continuous improvement of Canada’s #1 real estate website, REALTOR.ca . CREA is… View More >

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Canadian home sales activity edges lower in September

Ottawa, ON, October 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales edged down slightly between August and September 2018. Highlights: National home sales edged back 0.4% from August to September. Actual (not seasonally adjusted) activity was down by 8.9% from one year ago. The number of… View More >

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Canadian home sales activity edges higher in August

Ottawa, ON, September 17, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show a small increase in national home sales between July and August 2018. Highlights: National home sales rose 0.9% from July to August. Actual (not seasonally adjusted) activity was down 3.8% from August 2017. The number of newly listed homes… View More >

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Housing Market Reacts to Mortgage Stress Test

Housing Market Reacts to Mortgage Stress Test BCREA 2018 Third Quarter Housing Forecast Update Vancouver, BC – August 20, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 Third Quarter Housing Forecast Update today. Multiple Listing...

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Canadian home sales activity strengthens in July

Ottawa, ON, August 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were up from June to July 2018. Highlights: National home sales rose 1.9% from June to July. Actual (not seasonally adjusted) activity was down 1.3% from July 2017. The number of newly listed homes edged… View More >

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Nearby Schools Data Added to Listings on REALTOR.ca

Ottawa, ON August 1st, 2018 – Canadian parents have always asked their REALTORS® about nearby schools when considering a new home and starting today they’ll be able to access school catchment information when looking at property listings on REALTOR.ca, Canada’s #1 real-estate website. New school catchment information on REALTOR.ca will rollout nationally in phases, with… View More >

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Royal LePage Q2 House Price Survey

Just Released: Royal LePage Q2 2018 House Price Survey and Market Forecast The Q2 2018 Royal LePage House Price Survey and Market Forecast Survey was released to media early this morning. Below you will find highlights from the release, links to social media assets...

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Canadian home sales activity improves in June

Ottawa, ON, July 16, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were up from May to June 2018. Highlights: National home sales rose 4.1% from May to June. Actual (not seasonally adjusted) activity was down 10.7% from June 2017. The number of newly listed homes eased… View More >

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IMPACT: Home Improvement ROI

Media have just received the 2018 Royal LePage release: IMPACT: Home improvement ROI. The release includes expected home price gains on popular renovation projects as well as insight into seller trends. We would like to thank everyone who participated in the survey....

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Canadian home sales at five-year low in May

Ottawa, ON, June 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were little changed from April to May 2018. Highlights: National home sales edged down 0.1% from April to May. Actual (not seasonally adjusted) activity was down 16.2% from May 2017. The number of newly listed… View More >

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OMREB Media Release

MEDIA RELEASE May Home Sales Volumes in Sharp Contrast to Recent Years KELOWNA, B.C. – June 5, 2018. The volume of May home sales across the region of Revelstoke to Peachland contrasted sharply with this time last year, with 817 homes sold, a slight uptick from April...

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Canadian home sales fall in April

Ottawa, ON, May 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell from March to April 2018. Highlights: National home sales fell 2.9% from March to April. Actual (not seasonally adjusted) activity was down 13.9% from April 2017. The number of newly listed homes declined 4.8%… View More >

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Royal LePage Q1 2018 House Price Survey

Just Released: Royal LePage Q1 2018 House Price Survey The Q1 2018 Royal LePage House Price Survey was released to media early this morning. Key highlights from the national release include: The Royal LePage National House Price Composite, compiled from proprietary...

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Canadian home sales improve slightly in March

Ottawa, ON, April 13, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales edged higher from February to March 2018. Highlights: National home sales inched up 1.3% from February to March. Actual (not seasonally adjusted) activity was down 22.7% from last year’s all-time March record. The number of… View More >

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March Residential Market, a Mixed Story

KELOWNA, B.C. – April 6, 2018. Residential sales across the region of Revelstoke to Peachland rose to 628 in March, 25% over the previous month, yet down 24% from this time last year, reports the Okanagan Mainline Real Estate Board (OMREB). “While the market was...

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Canadian home sales fall further in February

Ottawa, ON, March 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales declined further in February 2018. Highlights: National home sales declined by 6.5% from January to February. Actual (not seasonally adjusted) activity was down 16.9% year-over-year (y-o-y) in February. The number of newly listed homes recovered… View More >

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BC Housing Demand To Slow Through 2019

BC Housing Demand to Slow Through 2019  BCREA 2018 First Quarter Housing Forecast Update Vancouver, BC – March 9, 2018. The British Columbia Real Estate Association (BCREA) released its 2017 Fourth Quarter Housing Forecast today. Multiple Listing Service® (MLS®)...

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BC Home Sales Dip After Strong December

BC Home Sales Dip After Strong December Vancouver, BC – February 15, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 5,306 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in January,...

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Canadian home sales drop in January

Ottawa, ON, February 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell sharply in January 2018. Highlights: National home sales declined by 14.5% from December 2017 to January 2018. Actual (not seasonally adjusted) activity was down 2.4% year-over-year (y-o-y) in January. The number of newly listed… View More >

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Canadian home sales surge in December

Ottawa, ON, January 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA), show national home sales continued to climb in December 2017. Highlights: National home sales rose 4.5% from November to December. Actual (not seasonally adjusted) activity was up 4.1% year-over-year (y-o-y). The number of newly listed homes climbed 3.3% from… View More >

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Residential Sales Volume On Trend

Residential Sales Volume On-Trend for Time of Year KELOWNA, B.C. – January 8th, 2017. Typical for December, volumes in residential sales declined this past month, with 459 sales posted to the MLS®, a 24% decrease from November, but comparable to last year’s sales of...

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Mortgage Rate Forecast

The December issue of Mortgage Rate Forecast is now available on BCREA Online. Highlights: -Rising rates and tighter mortgage regulations in 2018 -Canadian economy slowing -Bank of Canada waiting on higher inflation Send questions and comments about Mortgage Rate...

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Canadian home sales post solid gain in November

Ottawa, ON, December 14, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales rose strongly in November 2017. Highlights: National home sales rose 3.9% from October to November. Actual (not seasonally adjusted) activity was up 2.6% from November 2016. The number of newly listed homes climbed 3.5%… View More >

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CREA Updates National Resale Housing Market Forecast

Ottawa, ON, December 14, 2017 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2017 and 2018. Housing market trends continue to diverge considerably among regions along four general themes: British Columbia; the Greater… View More >

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New OSFI Stress Tests and market impacts

New OSFI Stress Test Set to Limit National Home Price Appreciation to 4.9% in 2018 December 13, 2017  Impact of new stress test expected to be contained to first half of 2018 for most major markets Still risk of high price appreciation in Greater Toronto Area and...

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