Canadian real estate surprised everyone in 2020. While the markets closed the year with red-hot, record-breaking activity, the year brought much uncertainty, financial upheaval, renewed forecasts of a bursting housing bubble, and other news that will likely continue to impact market activity in 2021. With the first week of the new year behind us, here’s a look back at 2020’s top Canadian housing...
The Bank of Canada, this morning, released its January Monetary Policy Report (MPR), showing they expect to keep overnight interest rates at its "effective lower bound" of 0.25% until 2023 (see chart below). To reinforce this commitment and keep interest rates low across the yield curve, the Bank will continue its Quantitative Easing (QE) program--buying $4 billion of Government of Canada bonds every week...
Motivated by low interest rates, last year people across Canada were on the move to wherever their telecommuting hearts desired. But will the trends continue in 2021? Those looking to buy or sell a home in early 2021 might want to keep in mind the three “I’s”: Interest rates, inventory and internet access (and the relocation possibilities it opens up!). Experts anticipate the housing market...
This Christmas, so many traditions have needed to change because of Covid-19. Why not change up your Christmas crafting projects with one of 2020s most sought-after household staple, the coveted toilet paper roll! Here are a few craft ideas for Christmas decorations using the toilet paper roll! The first task on a traditional Advent calendar chain. The amount of toilet paper rolls will depend on how...
This month's Realty Insights newsletter hit mailboxes today! The home gym tips were too good not to share. Use Things Around Your Home as Your "Home Gym". As our homes, once again, become the center of our activity, health officials remind us to stay active, and continue to enjoy the outdoors even as the weather shifts. Regular exercise or activity can have a major impact on mental and emotional...
As the weather starts to cool down, you'll need to start to think about your fall yard maintenance. We've created this important checklist to guide you through. Clean out the garden beds.It's a clever idea to clean out your garden beds in preparation for the winter. Rake out any debris, fallen plant matter, and weeds. Trim back any perennial plants along the sidewalk to make it easier to shovel in the...
Purchasing a home is one of the most stressful processes to go through as there are many moving parts. Today we want to look at an overview of the entire home buying process. There are many individuals that make up the home-buying process. We are going to start with your mortgage broker. A mortgage broker will work with you to get pre-approved as well as guide you through incentives like the first-time...
For the 12th straight year, RE/MAX ranks as the No. 1 real estate franchise brand in the annual Franchise Times Top 200 list, based on global sales. The honor reinforces the enduring quality behind the RE/MAX brand name. Coming in at No. 16, RE/MAX joins household names such as McDonald’s, 7-Eleven and Taco Bell at the top of the widely respected list. “This recognition reflects...
Delayed by pandemic-related lockdowns, summer's peak homebuying season pushed into fall. In fact, according to the RE/MAX National Housing Report for September, closings rose 21.1% from a year ago and on average, homes sold in a mere 39 days. Meanwhile, the inventory of homes for sale plummeted to an all-time low in September 2020. Sinking below the previous report low set in August 2020,...
The phrase “new normal” is being applied to anything and everything right now, including to define what daily life in 2020 looks like amid COVID-19. From wearing face masks in public to socializing from six feet away, society is adapting to the rather unusual circumstances. And like with all industries, there’s also a new normal when it comes to real estate. What can homebuyers and sellers...