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News from the Blog

Real Estate News Brought to you by Jeremy Osborne

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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Data Related to Nearby Schools 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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BC Home Sales Show Little Change in April

BC Home Sales Show Little Change in April Vancouver, BC – May 14, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 8,203 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in April, a 16.8...

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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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Bank of Canada Interest Rate Announcement

Bank of Canada Interest Rate Announcement  - March 7, 2018 The Bank of Canada opted to maintain its target for the overnight interest rate this morning at 1.25 per cent.  In the statement accompanying the decision, the Bank noted that although growth in the Canadian...

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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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Bank of Canada Interest Rate Announcement

Bank of Canada Interest Rate Announcement - January 17, 2018 The Bank of Canada opted to raise the target for its overnight interest rate this morning 25 basis points  to 1.25 per cent.  In the statement accompanying the decision, the Bank cited recent strong economic...

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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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Cooling Sales, Tight Supply

Cooling Sales, Tight Supply Temper Okanagan Residential Sales Price KELOWNA, B.C. – December 8, 2017. Residential sales posted to the Multiple Listing Service (MLS®) for the Okanagan region of Peachland to Revelstoke totaled 605 in November, falling 18% from last...

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Canadian Housing Starts

Canadian Housing Starts - December 8, 2017 Canadian housing starts surged in November, rising 13 per cent from October to 252,184 units at a seasonally adjusted annual rate (SAAR). The six-month trend in Canadian housing starts jumped to 226,270 units SAAR, the...

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Bank of Canada Interest Rate Announcement

Bank of Canada Interest Rate Announcement - December 6, 2017 The Bank of Canada maintained its target for the overnight rate at 1 per cent this morning. In the statement accompanying the decision, the Bank noted that the Canadian economy is evolving as expected, with...

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Housing Market Faces Headwinds

Housing Market Facing Headwinds Despite Strong Economy  BCREA 2017 Fourth Quarter Housing Forecast Vancouver, BC – November 28, 2017. The British Columbia Real Estate Association (BCREA) released its 2017 Fourth Quarter Housing Forecast today. Multiple Listing...

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Canadian home sales edge up again in October

Ottawa, ON, November 15, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales posted a modest monthly increase in October but remain below levels recorded one year ago. Highlights: National home sales rose 0.9% from September to October. Actual (not seasonally adjusted) activity stood 4.3% below last… View More >

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BC Home Sales Rise

BC Home Sales Rise Despite Low Level of Supply Vancouver, BC – November 14, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 8,677 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, an increase of...

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Okanagan Residential Sales

Okanagan Residential Sales Typical for Fall Time KELOWNA, B.C. – November 3, 2017. Residential sales posted to the Multiple Listing Service (MLS®) for the Okanagan region of Peachland to Revelstoke totaled 736 in October, comparable to last month’s 740 and just 6%...

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The Canadian Real Estate Association names Michael Bourque as new Chief Executive Officer

Ottawa, ON (October 27, 2017) – The Canadian Real Estate Association (CREA) today announced that Michael Bourque has accepted the role of Chief Executive Officer (CEO), effective later this year. “On behalf of CREA’s Board of Directors, we are delighted Michael accepted the role of CEO,” said Andrew Peck, CREA President. “The real estate profession… View More >

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Changes to Mortgage Underwiriting

OSFI Announcement of Change to Mortgage Underwriting - October 17, 2017 The Office of the Superintendent of Financial Institutions (OSFI) announced new restrictions on uninsured mortgages today. Effective January 1, 2018, all home-buyers with a down-payment of more...

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Canadian home sales edge up again in September

Ottawa, ON, October 13, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales in September rose modestly from the previous month but remained down from levels recorded one year ago. Highlights: National home sales rose 2.1% from August to September. Actual (not seasonally adjusted) activity stood 11%… View More >

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Royal LePage Q3 House Price Survey

Expanding Regional Economies to Lift Home Prices in Canada’s Major Markets October 12, 2017 Shorter than anticipated housing market correction puts Toronto back on track  Highlights: Toronto to have a shorter housing correction than seen in Vancouver Tighter access to...

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BC Home Sales Higher in September

BC Home Sales Ratchet Higher in September Vancouver, BC – October 12, 2017. The . The British Columbia Real Estate Association (BCREA) reports that a total of 8,340 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September, an increase...

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OMREB Market Release

KELOWNA, B.C. – October 4, 2017. Residential sales in the Okanagan region of Peachland to Revelstoke continued a gradual cooling trend that started in June, with 740 sales posted to the Multiple Listing Service (MLS®) in September, a 16% drop from August sales of 882...

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Canadian home sales edge up in August

Ottawa, ON, September 15, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales posted a small gain in August 2017. Highlights: National home sales rose 1.3% from July to August. Actual (not seasonally adjusted) activity stood 9.9% below last August’s level. The number of newly listed homes… View More >

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CREA Lowers National Resale Housing Market Forecast

Ottawa, ON, September 15, 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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BC Home Sales Robust and Unchanged in August

BC Home Sales Robust and Unchanged in August Vancouver, BC – September 14, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 9,162 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August, an increase of...

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Bank of Canada Interest Rate Decision

  Bank of Canada Interest Rate Decision - September 6, 2017 The Bank of Canada announced this morning that it is raising its target for the overnight rate by 25 basis points to 1 per cent. In the press release accompanying the decision, the Bank noted that recent...

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Housing Demand Continues to Outpace Supply

Housing Demand Continues to Outpace Supply KELOWNA, B.C. – September 5, 2017. Residential sales in the Okanagan region of Peachland to Revelstoke cooled slightly in August to 882, an 8% drop from July sales of 961 posted to the Multiple Listing Service (MLS®) and 14%...

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Robust Home Sales Supported by a Strong Economy

Robust BC Home Sales Supported by Strong Economy  BCREA 2017 Third Quarter Housing Forecast Update Vancouver, BC – August 31, 2017. The British Columbia Real Estate Association (BCREA) released its 2017 Third Quarter Housing Forecast update today. Multiple Listing...

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Summer Housing Market Continues to Sizzle

Summer Housing Market Continues to Sizzle Vancouver, BC – August 14, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 9,275 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, down 6.3 per cent from...

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Canadian home sales fall further in July

Ottawa, ON, August 15, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined further in July 2017. Highlights: National home sales fell 2.1% from June to July. Actual (not seasonally adjusted) activity in July stood 11.9% below last July’s level. The number of newly listed homes… View More >

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Strong Economy Keeps Housing Demand Up

Strong Economy Keeps Housing Demand Above Long-Run Average Vancouver, BC – July 13, 2017. The The British Columbia Real Estate Association (BCREA) reports that a total of 11,671 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, down...

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Canadian home sales drop again in June

Ottawa, ON, July 17, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales cooled further in June 2017. Highlights: National home sales dropped 6.7% from May to June. Actual (not seasonally adjusted) activity in June stood 11.4% below last June’s level. The number of newly listed homes… View More >

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Bank of Canada Interest Rate Decision

Bank of Canada Interest Rate Decision - July 12, 2017 The Bank of Canada announced this morning that it is raising its target for the overnight rate by 25 basis points to 0.75 per cent. In the press release accompanying the decision, the Bank noted that Canada's...

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BC Home Sales

BC Home Sales to Exceed 100,000 Units for Third Consecutive Year  BCREA 2017 Second Quarter Housing Forecast Vancouver, BC – June 19, 2017. The British Columbia Real Estate Association (BCREA) released its 2017 Second Quarter Housing Forecast today. Multiple Listing...

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2017 Royal LePage Recreational Housing Report

Just Released: 2017 Royal LePage Canadian Recreational Housing Report To: Royal LePage Broker/Owners, Managers, Sales Representatives and Administrators The 2017 Royal LePage Canadian Recreational Housing Report was released to media early this morning. The report...

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Canadian home sales drop sharply in May

Ottawa, ON, June 15, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales posted a sizeable decline in May 2017. Highlights: National home sales dropped 6.2% from April to May. Actual (not seasonally adjusted) activity in May stood 1.6% below last May’s level. The number of newly… View More >

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CREA Updates Resale Housing Market Forecast

Ottawa, ON, June 15, 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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Canadian home sales drop in April

Ottawa, ON, May 15, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined in April 2017. Highlights: National home sales fell 1.7% from March to April. Actual (not seasonally adjusted) activity in April was down 7.5% from a year earlier. The number of newly listed homes… View More >

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Canadian home sales edge higher from February to March

Ottawa, ON, April 18, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in March 2017. Highlights: National home sales rose 1.1% from February to March. Actual (not seasonally adjusted) activity in March was up 6.6% from a year earlier. The… View More >

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Laura-Leah Shaw, REALTOR® from Vancouver, selected for national award celebrating wide range of philanthropic work

OTTAWA, March 27, 2017 – The Canadian REALTORS Care® Foundation has named Laura-Leah Shaw, of Vancouver, British Columbia, the recipient of its national award – the Canadian REALTORS Care® Award 2017 Proudly Presented by REM. Shaw, of RE/MAX Crest Realty Westside, was selected because of the multitude of charities and activist organizations she actively supports…. View More >

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Canadian home sales climb in February

Ottawa, ON, March 15, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in February 2017. Highlights: National home sales rose 5.2% from January to February. Actual (not seasonally adjusted) activity in February was down 2.6% from a year earlier. The… View More >

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CREA Updates and Extends Resale Housing Market Forecast

Ottawa, ON, March 15, 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. Canadian housing market trends continue to display considerable regional divergence. In British Columbia, activity in the Lower… View More >

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Canadian home sales edge down from December to January

Ottawa, ON, February 15, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were down slightly in January 2017 on a month-over-month basis. Highlights: National home sales declined 1.3% from December 2016 to January 2017. Actual (not seasonally adjusted) activity in January was up 1.9% from a… View More >

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Canadian home sales up from November to December

Ottawa, ON, January 16, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in December 2016. Highlights: National home sales rose 2.2% from November to December. Actual (not seasonally adjusted) activity in December was down 5.0% from a year earlier. The… View More >

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Canadian home sales cool in November

Ottawa, ON, December 15, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were down on a month-over-month basis in November 2016. Highlights: National home sales fell 5.3% from October to November. Actual (not seasonally adjusted) activity remained 1.6% above levels in November 2015. The number of… View More >

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CREA Updates Resale Housing Forecast

Ottawa, ON, December 15, 2016 – 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 2016 and 2017. Canadian housing market trends have evolved largely as expected since CREA last published its forecast in September…. View More >

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Canadian home sales rise in October

Ottawa, ON, November 15, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in October 2016. Highlights: National home sales rose 2.4% from September to October. Actual (not seasonally adjusted) activity was up 2.0% year-over-year (y-o-y) in October 2016. The number… View More >

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Canadian home sales edge up in September

Ottawa, ON, October 14, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales edged slightly higher in September 2016 compared to August. Highlights: National home sales edged up 0.8% from August to September. Actual (not seasonally adjusted) activity in September rose 4.2% year-over-year (y-o-y). The number of… View More >

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Canadian home sales decline further in August

Ottawa, ON, September 15, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined for a fourth consecutive month in August 2016. Highlights: National home sales fell 3.1% from July to August. Actual (not seasonally adjusted) activity came in 10.2% above August 2015. The number of newly… View More >

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Here We Go Again

As it turns out, the housing market is reportedly stabilizing as we, among many others, have been talking about for the past couple months. The interesting portion about this is where the stability is being derived from. From what we … Continue reading

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NAR Owns The Block

NAR now officially owns every building on the block on which they operate off Michigan Avenue in Chicago, Illinois, after purchasing the last remaining non-NAR building – a two-story building previously occupied by the Wrigley Company. Though, we’re not sure which … Continue reading

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