REALTY AND MORTGAGE NEWS
CMHC Launches Campaign to Help Homeowners.
OTTAWA, March 26, 2009 — Today, the Canada Mortgage and Housing Corporation (CMHC) launched a consumer outreach campaign to help borrowers understand the importance of working with lenders to find manageable solutions if they are facing financial difficulties in repaying their mortgage loans.
“CMHC has a long tradition of offering mortgage default management tools to lenders to help them assist homeowners whose financial circumstanc...
Market Activity Increases With Consumer Confidence.
Île-des-Sœurs, April 2, 2009 – The drop in MLS® sales evidenced over the last few months in the Montréal Metropolitan Area relented in March, registering a 12 per cent decrease compared to the same month last year. Property prices continued to increase slightly, with the median price of a single-family home reaching $227,000, reported the Greater Montréal Real Estate Board.
"Spring is the busiest time of the year for the resale m...
Home Prices Increase While Sales Drop.
Île-des-Sœurs, March 4, 2009 – MLS® sales in the Montréal Metropolitan Area decreased by 30 per cent in February 2009 compared to the same month last year while, at the same time, the median price of single-family homes increased by 2 per cent, reported the Greater Montréal Real Estate Board.
"Sales are still slow in comparison to last year at the same time, but the positive sign is that prices are still up over last year, with c...
Housing Will Continue to Moderate in 2009.
OTTAWA, February 19, 2009 — Housing starts reached 211,056 units in 2008, a decrease from 228,343 in 2007, according to Canada Mortgage and Housing Corporation’s (CMHC) first quarter Housing Market Outlook, Canada Edition* report. Starts are expected to be about 160,250 for 2009 and about 163,350 for 2010.
“The new home market is moderating due to a number of key factors,” said Bob Dugan, Chief Economist for CMHC. “The econom...
January’s Housing Starts Decline.
OTTAWA, February 9, 2009 — The seasonally adjusted annual rate1 of housing starts declined to 153,500 units in January from 172,200 units in December of 2008, according to Canada Mortgage and Housing Corporation (CMHC).
“To a certain extent, the decline in housing starts coincides with recent developments in the existing home market. Reduced sales and increased listings in the existing home market have led to reduced spillover...
Despite a Drop in Sales, Prices Continue to Climb.
Île-des-Sœurs, February 11, 2009 – MLS® real estate sales in the Montréal Metropolitan Area declined by 37 per cent in January 2009 compared to the same month last year while, at the same time, median prices of single-family homes increased by 3 per cent, reported the Greater Montréal Real Estate Board.
"It's obvious that the sales decline is mostly due to a drop in consumer confidence," said Michel Beauséjour, FCA...
Housing Starts Moderate in December.
OTTAWA, January 9, 2009 — The seasonally adjusted annual rate1 of housing starts was 177,300 units in December, down marginally from 178,000 units in November, according to Canada Mortgage and Housing Corporation (CMHC).
“Housing starts in December were almost unchanged compared to November,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “At an estimated 212,366 units, housing starts in 2008 breached the 200,000...
Montréal Resale Market Performed Well in 2008.
Île-des-Soeurs, January 13, 2009 The Greater Montréal Real Estate Board (GMREB) reported that the median price of single-family homes in the Montréal Metropolitan Area increased by 6 per cent in 2008 compared to 2007 while, overall, residential sales slowed by 7 per cent.
“The Montréal real estate market fared well in 2008 with almost 41,000 sales transactions, 7 per cent less than the previous year, which was the year that broke ...
Canadians are Determined to Spend Less but Shop Smarter this Holiday Season.
While U.S. retailers eagerly await Black Friday sales results, BMO Bank of Montreal and the AIR MILES Reward Program offer insights into Canadian holiday shopping intentions
A recession will constrain holiday spending.
Almost one in five Canadians stressed about not having enough money for gifts: will turn to loyalty points to supplement their gift-giving.
40% of Canadians polled expect to carry a credit card balance on their holi...
CMHC Releases Comprehensive Report on Housing in Canada.
OTTAWA, November 13, 2008 — New analysis that tracked how long Canadians living in core housing need* remained in this situation over a three-year period is unveiled in the 2008 Canadian Housing Observer, released today by Canada Mortgage and Housing Corporation (CMHC).
"The 2008 Canadian Housing Observer provides an in-depth picture of housing trends and developments in Canada," said Karen Kinsley, President of CMHC.
"The 2008 Observer ...
