Canadian Real Estate News Headlines (April 24th 2019)
Hello everyone. How are you?
I provide you with Canada’s news headlines for real estate news for today.
Canadian Real Estate Demand Slips Further In March
Canadian real estate demand is still slipping, by at least one industry indicator. Canadian Real Estate Association (CREA) numbers show the National SNLR decline in March. Western Canadian markets were the biggest losers, accounting for most of the declines.
Real Estate: What $250,000 will buy in four Canadian cities
The average price of a Canadian home came in at $481,745 in March, according to the latest data from the Canadian Real Estate Association (CREA). If you’re hunting for a home in one of the country’s priciest housing markets, that number might seem low. But for those willing to compromise on location, plenty of single-family homes are available for $250,000 or less. To get a sense of what’s available for nearly half the national average, check out these listings here.
Immigrants in Canada Gain Wealth through Real Estate
While the data shows that immigrant families accumulated more wealth between 1999 and 2016 than in previous years, it has also revealed that their focus on real estate means they have more mortgage debt than Canadian-born homeowners do. This could put immigrant families at higher risk if there were a future debt crisis.
StatCan’s report, “The Wealth of Immigrant Families in Canada,” used data from the 1999, 2005, 2012, and 2016 Surveys of Financial Security (SFS) to look more closely at the wealth of the country’s immigrant families – an area that StatCan says has received relatively little attention in the past.
Jethro Seymour, Toronto Real Estate Broker,
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