We know how easy it is for news to pass you by in the week, so we’ve put together a round-up of Montreal’s most important real estate stories from the past few days – and where to read more about them:
Country Home Vs City Home: A Comparison Of Prices And Appreciation Rates
JLR’s new report compares the single family home market in Montreal to rural parts of Quebec. The biggest jump in sales activity was seen in the Rouyn-Noranda district, where 25% more homes were sold this year compared to last year. In total, this amounts to 515 single family homes. The real estate market in this region is strongly tied to the forestry and resource extraction industry, closely following the trends caused by employment and economic activity in that sector.
CREA: The Canadian Real Estate Market Picked Up Again In June
Home Prices In The West Island Are Rising Faster Than Any Other Montreal Area
RBC: How Have Higher Interest Rates Affected Housing Affordability In 2018?
According to RBC’s latest Housing Trends and Affordability Report, rising interest rates at the end of 2017 have taken a bite out of Canadian housing affordability in the first quarter of 2018.
The average Canadian household put 48.4% of their income towards housing costs in 2018. This ratio is the highest it has been in decades.
Whenever the income to housing costs ratio rises, it constitutes a loss of affordability.
This article, Top Stories This Week – July 22, 2018, appeared first on Shupilov News.