Canadian Real Estate News Headlines (February 2nd 2019)

Hello everyone. How are you?

I provide you with Canada’s news headlines for real estate news for today. 

Canadian Real Estate Sales Drop Over $38 Billion In Business Last Year

Canadian real estate buyers spent a lot less cash last year. Canadian Real Estate Association (CREA) numbers show dollar volumes made a massive decline in 2018. The total amount spent on real estate resales made a massive drop, largely do to declines in Toronto and Vancouver.

The details can be found here. 

Ontario may allow disclosure of prices in real estate bidding wars

Ontario home buyers may soon be able to find out the prices and conditions of other offers in bidding wars.

The government launched a consultation Thursday looking at the Real Estate and Business Brokers Act, and that’s one rule they’re looking at changing. Currently, if there are multiple bids on a home, the seller’s broker can only disclose the number of competing offers, but not the details of them.

The details can be found here.