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In an effort to slow the rising cost of housing in Canada, on September 11, 2022 the federal government proclaimed it will prohibit foreigners from purchasing homes for two years. Effective January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act will ban…
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The volume of Canadian home sales increased for the sixth consecutive month in August, and transactions are now running almost 17% above the six-year low reached earlier this year in February, but remain about 10% below highs reached in 2016 and 2017. According to statistics released by The Canadian…
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When the Canadian of Federal Government announced the new “Mortgage Stress Test” in October 2017 , it was expected that many homebuyers would expedite their purchases during the two-and-a-half-month window before it took effect on January 1, 2018. The response to the new policy was stronger than…
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While Canadian home sales were up 4.1% from May to June 2018, sales are still down from monthly levels over the past five years. According to statistics released by The Canadian Real Estate Association (CREA), new home listings were also down in June.

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