Three Real Estate Stories in the News for Wednesday January 24th, 2018
A cooling market, but not for long — what economists are saying about Canadian housing this month
Canadian home resales set a record high in December, with 551,700 units sold. That had economists scrambling to predict whether the trend would continue into the new year, or if industry watchers should brace for a cooling period. Check here for more details.
Canada’s High Prices Are Organic, Spurred on by Local Buyers, Says Royal LePage Chief
Philip Soper, president and CEO of Canadian real estate brokerage firm Royal LePage and Brookfield Real Estate Services, sees luxury markets popping up all over Canada—from the big cities to the much smaller towns. Check here for more details.
Small Rate Hike, Big Impact On Canadian Real Estate Buyers
Canadian real estate buyers got hit with another quiet hurdle last week. The Bank of Canada (BoC) raised interest rates, and with it, up went the posted 5 year mortgage rate. Check here to see how that’s going to impact the borrowing patterns, and how much more it’s going to cost.
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Jethro Seymour, Toronto Real Estate Broker. Search Toronto's live MLS listing here.