Author: homegoal.ca
The Canadian Real Estate Association is proposing a $75 special assessment for members to bolster its legal defence fund amid a flurry of legal issues. In an email sent to member boards and associations, CREA says its legal costs ballooned from $626,000 in 2023 to more than $4-million in 2024—an increase of nearly 540 per cent. Since its inception in 2006, the legal fund has maintained a $2-million balance, but the association now wants to raise that amount to approximately $10-million to cover ongoing and future legal battles. “The legal landscape has become more litigious, not just in Canada but…
On March 10, 2025, at its regular council meeting, Surrey City Council approved updates to the city’s Development Cost Charges (DCCs) Bylaw. The revisions include the introduction of a new Fire Services DCC and a rollback of residential unit rates to 2023 levels to qualify for federal infrastructure funding, along with other changes. This restructuring is designed to maintain a “net freeze” on residential fees, a measure intended to address the ongoing housing affordability crisis while streamlining infrastructure funding. DCCs are fees charged on new developments to fund infrastructure like roads, water, sewer, drainage, parks, and now fire protection. The…
It was another slow month for Canadian home sales in February as tariffs fears continued to keep buyers on the sidelines, according to the February market report from the Canadian Real Estate Association (CREA).After a slow January, sales fell “sharply” last month by 9.8%, representing the most dramatic month-over-month decline since May 2022 and landing sales activity at November 2023 levels. Sales also fell on an annual basis, posting a decrease of 10.4% compared to February 2024.Not surprisingly, CREA is attributing the slow market to the ongoing trade war. “The moment tariffs were first announced on January 20, a gap…
Canadian home price growth continues to accelerate despite further demand erosion. Canadian Real Estate Association (CREA) data shows home prices jumped in February. The increase was accompanied by sales making the sharpest drop in years—easing inventory pressures even further. That’s not how this traditionally works. Canadian Real Estate Prices Made Sizable Gains Last Month The composite benchmark price of existing home sales made through the MLS. Source: CREA; Better Dwelling. Canadian existing home prices continued their march upward last month. The price of a benchmark (or typical) home climbed 0.6% (+$4,400) to $713,700 in February. Home prices are 1.0% (-$6,900)…
The Canadian housing market saw a sharp decline in sales activity from January to February as ongoing trade tensions with the United States left buyers hesitant. According to the Canadian Real Estate Association (CREA), home sales recorded through MLS® Systems fell 9.8% month-over-month in February 2025, marking the steepest decline since May 2022. This drop brings sales activity to its lowest level since November 2023. With the introduction of tariffs by the USA, the resulting economic uncertainties immediately slowed buyer activity. “The moment tariffs were first announced on January 20, a gap opened between home sales recorded this year and…
Homebuyers stayed on the sidelines in February 2025, leading to a significant drop in home sales across the country, according to the latest market report from the Canadian Real Estate Association (CREA). With the ongoing trade war between Canada and the United States, market activity slowed to its lowest level in over a year. Home sales see largest drop since 2022 Sales activity fell 9.8% compared to January, marking the largest single-month decline since May 2022 and the lowest absolute number of home sales recorded since November 2023. The slowdown wasn’t limited to just a few areas — sales declined…
Don’t miss out—join us online for REM’s first monthly market breakdown on March 25 at 2 PM Eastern. REM, columnist Daniel Foch will analyze CREA’s latest stats, market slowdowns, and what shifting buyer sentiment means for Realtors. Register here. It seems Canada’s resilient housing market is finally meeting a storm it can’t immediately weather. In CREA’s February 2025 data, we saw home sales plunge dramatically—almost as if the market collectively paused to reflect. Is this surprising? Not really. It’s a reaction many predicted as the trade war with the United States continues to escalate, throwing economic certainties into…
Marketing Canadian vacation rentals to international travellers requires a well-planned approach that extends beyond standard marketing techniques. The goal is to reach and persuade audiences in different countries, each with unique travel habits, cultural preferences, and booking behaviours while highlighting the unique appeal of your property and location. Craft a Compelling, Culturally Resonant Brand Story Your brand narrative is the cornerstone of international outreach. Develop a story that celebrates a unique Canadian experience while connecting emotionally with travellers worldwide. Highlight an authentic Canadian lifestyle. Travellers are drawn to genuine experiences rather than polished sales pitches. Create a signature message. A…
After posting a 3% gain in January, the annual rate of housing starts slipped 4% in February, new data from Canada Mortgage and Housing Corporation (CMHC) shows. The agency reported on Monday that, on a national basis, the seasonally adjusted annual rate (SAAR) of starts came in at 229,030 units last month, down from 239,322 units in January. Meanwhile, the six-month moving average of the SAAR edged up 1.1% in February to 239,382 units.CMHC also revealed that actual starts in centres with populations of at least 10,000 fell 5% between January and February to 209,784 units, with the bulk of…
Securing a great deal on a condo-apartment in Toronto during the spring 2025 market depends on knowing where to look. Different neighborhoods offer better negotiation opportunities, especially those where listings remain on the market longer or where sales activity is lower. Sellers may be more inclined to adjust prices or provide incentives to close these neighbourhoods. Understanding these market dynamics can give you an advantage in finding the best value for your investment. Given the overwhelming number of condo listings in Toronto, there is significant potential for long-term equity building. Zoocasa analyzed data from February 2025 to identify the best…