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Top Stories This Week – July 22, 2018

This week: Country Home Vs City Home, The Canadian Real Estate Market Picked Up Again In June, and more...

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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.

Read the rest.

CREA: The Canadian Real Estate Market Picked Up Again In June

After several months of declining activity, Canadian home sales are finally improving. Statistics released today by the Canadian Real Estate Association (CREA) show that 60% of all Canadian markets saw increased activity in June.

Read the rest.

Home Prices In The West Island Are Rising Faster Than Any Other Montreal Area

According to the Royal LePage House Price Survey and Market Forecast, Montreal’s residential real estate market has done particularly well in the second quarter of 2018. The aggregate average price of all properties in the Greater Montreal Area appreciated by 5.9% between April and June, compared to the same period last year. Compared the the national average of 2%, Montreal’s gain is a notable one.

Read the rest.

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.

Read the rest.

This article, Top Stories This Week – July 22, 2018, appeared first on Shupilov News.


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