3 Canadian Real Estate News Headlines You Shouldn't Miss Today (August 27th 2019)
Hello everyone. How are you?
I provide you with Canada’s news headlines for real estate news for today.
Single-Family Home Sales Skyrocket In Toronto Despite Stress Test
According to numbers released by the Building Industry and Land Development Association (BILD), this July, 566 new single-family homes sold in the GTA, up 136 per cent from June this year. Perhaps that’s because the average price fell (yes fell) to $1,091,727 this July – a drop of 4.5 per cent over the past year.
Anywhere else in the country, it might be unthinkable to drop a million bucks for a family home, yet for Torontonians, these numbers are simply the standard.
PEI’s Competitive Real Estate Market Rivals Toronto’s
The province best known for Anne of Green Gables, sandy beaches, and a pastoral lifestyle has surprisingly experienced an increase in housing prices that outdoes even the Toronto market. CBC News has reported that the recent cut-throat market has come about because of the increase in Airbnb rental properties and a rise in immigration as the province was desperate to replenish its qualified workers.
Vancouver Real Estate Falls To Bottom Of The List For Demand, Ottawa Tops
Canada’s fast moving real estate market is still seeing demand shift to the East Coast. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio improved in July. On the national level, there was only a small increase. However, that’s because large gains in the East, are being weighed down by large drops in the West.
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