Average home prices are expected to rise by 4.4%, with the national average reaching $713,375.Alberta is projected to see strong growth, with a 6.8% increase in prices and 2.7% in sales....
Canadian home sales rose by 1.9% in Late-Q3 2024, marking three consecutive months of growth. Forecasts predict a 6.6% increase in home sales and a 4.4% rise in prices for 2025....
Sales Growth: Home resales in Canada are projected to rise by nearly 8% in Q1 and 4% in Q2, driven by falling mortgage rates. Price Increases: Home prices are expected to grow about 3% in Q1 and an additional 2% in Q2, as demand intensifies....
Over a million Canadian homeowners will face higher interest rates when renewing their mortgages in 2025, as many initially secured loans at rates below 1%. About 1.2 million fixed-rate mortgages are due for renewal, potentially increasing housing market listings as financially stressed homeowners sell. Rising mortgage defaults and foreclosures are evident, with delinquency rates for single-family homes...
Canadian homeowners are demonstrating resilience amid rising interest rates, with lower credit defaults compared to renters, although mortgage defaults are beginning to rise. The Canada Mortgage and Housing Corporation (CMHC) anticipates that this ability to meet mortgage payments will be crucial over the next two years as homeowners face economic uncertainty during mortgage renewals. An analysis...
Save Strategically for Down Payment: Minimum down payment varies based on home price; 5% for homes under $500K. Assess Borrowing Affordability: Understand the difference between what you can afford and lender approval criteria....
Definition: A gifted down payment is a financial gift from immediate family members for a home purchase. Requirements: The funds must be a gift, with no expectation of repayment, often needing a signed gift letter....
Canada's housing market is experiencing challenges, with mortgage delinquencies over 90 days rising to 0.19% in Q2 2024. Alternative lending sectors are under more strain, with delinquencies at 1.15%. Additionally, 5% of single-family home borrowers are over 60 days behind on payments. With 1.2 million mortgages up for renewal in 2025, financial strain may grow despite recent rate cuts. The CMHC...
Bank of Canada Position Forecast for End of 2024: 3.75% Forecast for End of 2025: 2.75% Market Expectations: Quarter-point cut in October, with a chance of a half-point move....
Canada's real estate market faces challenges like high interest rates, construction costs, and labor shortages, but there are signs of optimism for 2025. The PwC Canada and ULI report highlights opportunities in distressed real estate, generative AI, and emerging asset classes such as data centers and cold storage. Sustainability is becoming essential due to climate risks, and foreign investors are...