Canadian Real Estate News Headlines (May 17th 2019)
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I provide you with Canada’s news headlines for real estate news for today.
New stats show fewer foreign residents buying GTA homes
New figures show the pace of foreign purchases of residential real estate in the Greater Toronto Area has slowed to a trickle, two years after the province imposed a tax to try to cool the housing market.
The statistics were made public Tuesday in the wake of reporting by CBC News this week that found the provincial government had not put out any new information on the foreign buyers tax on home sales in more than a year.
Canadian home sales up 4.2% year-over-year, first increase since Dec. 2017
Home sales in April posted their first year-over-year increase since December 2017 as gains in Montreal and the Toronto region outweighed a decline in the B.C. Lower Mainland.
The Canadian Real Estate Association said Wednesday that home sales last month were up 4.2 per cent compared with a year ago, when they hit a seven-year low for the month. On a month-over-month basis, sales through the Multiple Listing Service rose 3.6 per cent in April.
Recovery Or Dead Cat Bounce? Canadian Real Estate Sales Rise Unexpectedly
Canadian real estate sales are stabilizing after last year’s massive drop. Canadian Real Estate Association (CREA) numbers show a large climb for sales volume in April. The increase comes after months of negative growth, but may be more of a sign of stabilization. Last year’s decline in sales was the largest in over a decade, so it was a relatively easy beat.
Jethro Seymour, Top Toronto Real Estate Broker
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