Soft landing for Canadian real estate market, but Vancouver could outperform: report

Further tightening of mortgage lending rules will dampen Canadian real estate activity, as will reduced affordability. Average home prices relative to incomes are at historic highs and affordability will be strained as the cost of borrowing goes up, Scotiabank says.

Read more: http://www.vancouversun.com/business/Soft+landing+Canadian+real+estate+market+Vancouver+could+outperform+report/4366345/story.html#ixzz1FSr5UTWW

Soft landing for Canadian real estate market, but Vancouver could outperform: report

Locals bought most of 2010′s real estate in Victoria

"The majority of buyers are people moving up or down in the market to meet their changing needs," said board president Dennis Fimrite, adding he found it encouraging to see a quarter of the buyers were acquiring their first homes. "Despite concerns over affordability, we are pleased to see that many individuals and families are able to make the move to home ownership. This shows confidence in the market and a commitment to making this area their home."

Read more: http://www.timescolonist.com/business/Locals+bought+most+2010+real+estate+Victoria/4151300/story.html#ixzz1ByRM29Fv

Locals bought most of 2010′s real estate in Victoria

Home ownership costs continuing to climb despite slowing activity: RBC

Ottawa Citizen- The cost of owning a home in Canada rose for the fourth consecutive quarter despite the slowdown in the resale market, according to a housing report released Monday by RBC Economics Research.

"Higher mortgage rates in tandem with a further appreciation in home prices boosted the monthly costs associated with carrying a mortgage on a typical home," said RBC senior economist Robert Hogue. "This extended the deteriorating trend in affordability since the middle of last year."

But despite the downturn, he said affordability remained "within a safe range…”

Home ownership costs continuing to climb despite slowing activity: RBC

April property sales higher, but off 2009′s frenetic pace

Vancouver Sun- As was seen in the Lower Mainland, British Columbia as a whole saw April real estate sales dramatically higher than a year ago, but off the frenetic pace seen in the last quarter of 2009, the B.C. Real Estate Association reported Friday.

B.C. realtors processed some 8,385 units through the Multiple Listing Service in April, 21-per-cent higher than the same month a year ago, but when figures are adjusted to account for seasonality April sales were four per cent below March, according to Cameron Muir, the association’s chief economist.

"Higher home prices, particularly in Vancouver, the Fraser Valley and Victoria as well as a recent lift in mortgage interest rates has eroded affordability and had an impact on overall housing demand," Muir said in a news release…

April property sales higher, but off 2009′s frenetic pace

Next Page »