Real Estate News

OTTAWA REAL ESTATE MARKET UPDATE | OCTOBER 2022

OTTAWA REAL ESTATE MARKET UPDATE | OCTOBER 2022

Members of the Ottawa Real Estate Board sold 987 residential properties in October through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,670 in October 2021, a decrease of 41%. October’s sales included 758 in the residential-property class, down 40% from a year ago, and 229 in the condominium-property category, a decrease of 44% […]

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What You Should Know About the Ontario Housing Market & Blind-Bidding

Now that Prime Minister Justin Trudeau and the Liberals have secured a minority government after the 44th general election, will the Grits move ahead with their plan to ban blind bidding? With the state of the House of Commons essentially unchanged from before the election, the public policy pursuit might prove to be a challenging feat for the Trudeau […]

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Canadian Real Estate is at a Critical Juncture

Canadian real estate is at a critical point. Declining housing affordability due to supply shortages continues to be the biggest challenge facing Canadian homebuyers, particularly first-time buyers. To improve these challenging market conditions and help more Canadians enter into home ownership, RE/MAX Canada is calling for the newly appointed federal government to lead a collaborative national housing strategy, […]

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Update to Canada’s Mortgage Qualifying Rules Explained

Earlier this summer, new changes were announced for the federal mortgage stress test, shifting the ground again in terms of how much house new and seasoned home buyers are qualified to purchase. In April, Canada’s financial regulator, the Office of the Superintendent of Financial Institutions (OSFI), proposed an increase for the stress test’s minimum qualifying rate on uninsured mortgages. […]

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