Canadian Real Estate News Headlines (May 22nd 2019)

Hello everyone. How are you?

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

IMF warns against easing Canada's housing rules

The International Monetary Fund says Canada should ignore calls to relax stricter mortgage rules or introduce new measures to reignite the housing market.

Both Toronto and Vancouver’s real estate boards want Ottawa to ease the stress test for buyers with less than 20 percent for a down payment.

“The government is under pressure to ease macroprudential policy or introduce new initiatives that buttress housing activity,” said the IMF in a statement.

Read More

Oversupply pushing down home prices in Calgary and Edmonton, report finds

It’s a great time for those looking to buy homes in Calgary or Edmonton thanks to a surplus of available units on the market.

Resale prices of homes in both cities are down compared to one year ago and even lower when compared to five years ago, according to statistics released last week by the Canadian Real Estate Association (CREA).

Read More

5-Year Forecast Shows Canadian House Prices Will Rise In All But 2 Cities 

The Canadian housing market appears to be on the rebound as April sales hit the biggest year-over-year increase since December 2017. But that doesn’t necessarily mean properties are becoming more affordable.

A five-year forecast on Canadian home prices has found that costs will rise across the country in all but two cities.

Read More