May home sales down 22% since last year, 9% from April: CREA
Economists attribute much of the cooling to rising interest and mortgage rates.
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Residential
Ottawa-Gatineau housing starts fall for second straight month in May
Homebuilders started work on 1,315 new dwelling units in Ottawa-Gatineau in April, down from 1,718 starts in the same month in 2021.
Feds contribute $6.6M to Bells Corners affordable housing project
This amount is complemented by $740,000 for fee and development charge waivers from the City of Ottawa and $4 million in Ontario Priorities Housing Initiative
Home prices fall from April, sales drop 19% year-over-year in May: OREB
The average residential-class property changed hands for about $802,000 last month, the city’s real estate board said, up eight per cent from a year earlier
Interest in mortgages from alternative lenders up as rates rise: Brokers
Canadian homebuyers are increasingly considering credit unions and private lenders to secure mortgages as rates rise, brokers say.
Worry, buyer’s remorse high as real estate market slowdown materializes
Realtors and lawyers say they have noticed buyers looking at what options they have to get out of a purchase because conditions have shifted dramatically
CREA reports home sales down in April as mortgage rates rise
The association found the number of homes sold dropped by 25.7 per cent to 54,894 last month from 73,907 in April 2021, when the country
Gatineau building boom tails off as region’s housing starts fall 22% in April
Multi-unit starts on the Quebec side of the river dropped from 547 in April 2021 to just 163 last month, a decline of 70 per
InterRent REIT ‘basically back to pre-pandemic performance,’ executive chair says
Ottawa firm said its funds from operations rose nearly 18 per cent compared with the first quarter of 2021, while its same-property occupancy rate jumped
Minto Apartment REIT posts net income of $34.6M in Q1 as economy rebounds, rental demand grows
Ottawa-based REIT’s overall revenue grew 8.4 per cent year-over-year to $32.5 million as the occupancy rate of its unfurnished suites ticked up to 94.2 per
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