Real Estate News

February's home sales plummeted 40 per cent from a year ago to levels not seen since before the pandemic as new listings and prices also dropped in what one economist called "hints of a bottoming process.

Eight interest rate hikes in less than a year have left thousands of Canadians feeling like homeownership is out of reach for now — and maybe even forever. The benchmark rate, which sits at 4.

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts climbed 13 per cent in February.

MONTREAL — The Quebec Professional Association of Real Estate Brokers says Montreal's February home sales hit a new low last month, dropping 32 per cent from the prior February. Sales for the month totalled 2,996 compared with 4,375 a year ago.

TORONTO — Canadian travellers are facing increased airport fees after the pandemic grounded revenues and led to more debt for airports across the country.

TORONTO — Cadillac Fairview says it has acquired Lincoln Property Company’s residential division.

TORONTO — First Capital Real Estate Investment Trust has reached an agreement with an activist investor group that was seeking to replace four of its trustees.

TORONTO — Nordstrom's departure from Canada's retail landscape will leave significant holes in shopping malls, and some analysts say landlords will need to get creative to fill the space.

TORONTO — Greater Toronto Area home prices fell almost 18 per cent from last February — the largest year-over-year drop on record — as the number of properties sold was halved, the region's real estate board said.

VANCOUVER — The Real Estate Board of Greater Vancouver says February's home sales were up 76.9 per cent from January, but down 47.2 per cent from the year before.