housing affordability

Greater Vancouver home sales down 43% from last July, 23% from June: REBGV

By:Building .caPosted: Aug 6th, 2022In: ConstructionNews

VANCOUVER – The Real Estate Board of Greater Vancouver says last month’s home sales were down a whopping 43 per cent from last July and 23 per cent from this past June. Sales in the[...]

GTA home sales down 47% from last year, 24% from June: Toronto real estate board

By:Building .caPosted: Aug 5th, 2022In: ConstructionNews

TORONTO – The moderation of the Greater Toronto Area’s housing market intensified last month as the region’s real estate board found July sales fell 47 per cent from the same time last year and 24[...]

GTA new condo sales slow, 10,000 to be delayed: Urbanation

By:Building .caPosted: Aug 3rd, 2022In: ConstructionNews

Greater Toronto Area (GTA) new condominium sales totaled 6,792 units in the second quarter, declining 19% from the first quarter and 24% year-over-year but remaining above the 10-year average of 6,302 sales, according to Urbanation[...]

Home Prices See Steady Rise Across Canada in H1: CENTURY 21

By:Building .caPosted: Jul 28th, 2022In: ConstructionNews

A press release from CENTURY 21 Canada states that while interest rates have been on the rise for the past few months, the Canadian housing landscape continued to see pricing growth during the first six[...]

Interest rate hike like a ‘hammer to housing’: BMO senior economist

By:Building .caPosted: Jul 23rd, 2022In: ConstructionNews

TORONTO – A BMO Capital Markets senior economist says the Bank of Canada’s recent move to increase its key interest rate is setting up the housing market for an even deeper correction next year. Robert Kavcic says[...]

U.S. Housing market chills as mortgage rates, prices scare buyers

By:Building .caPosted: Jul 22nd, 2022In: ConstructionNews

NEW YORK (AP) – It’s the summer that cooled off the housing market. Rising mortgage rates have combined with already high home prices to discourage would-be buyers. Mortgage applications have declined sharply. Sales of previously[...]

Canada’s inflation rate climbs to 8.1% in June as gas prices soared

By:Building .caPosted: Jul 21st, 2022In: ConstructionNews

OTTAWA – Canada’s annual inflation rate rose to 8.1 per cent in June, boosted by soaring gas prices, which rose more than 50 per cent compared with a year ago, Statistics Canada said Wednesday. The June inflation rate[...]

Roommates, multi generational homes rising amid increasing costs, immigration: census

By:Building .caPosted: Jul 20th, 2022In: ConstructionNews

TORONTO – When Gina Athanasiou’s father died in 2016, she realized her mother, who bounced between Canada and Greece for most of her life, didn’t have a pension large enough to cover the soaring costs[...]

Economists predict inflation climbed even higher in June amid ‘reopening effect’

By:Building .caPosted: Jul 19th, 2022In: ConstructionNews

OTTAWA – Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further. The consumer price index in Canada hit a nearly 40-year high of 7.7 per cent in[...]

Bank of Canada hikes key interest rate by full percentage point

By:Building .caPosted: Jul 14th, 2022In: ConstructionNews

OTTAWA – The Bank of Canada raised its key interest rate by a full percentage point on Wednesday, marking the largest single rate hike since August 1998. The central bank’s decision signalled a more aggressive approach to bringing skyrocketing inflation,[...]