Media Newsroom

RE/MAX is calling for a leveling out of the highs and lows that characterized the Canadian housing market in 2019, particularly in Vancouver and Toronto, as we move into 2020. Healthy price increases are expected next year, with an estimated 3.7 per-cent increase in the average residential sale price. Most individual markets surveyed across Canada experienced moderate price increases year-over-year from 2018 to 2019. However, some regions in Ontario continue to experience higher-than-normal gains, including London (+10.7 per cent), Windsor (+11 per cent), Ottawa (+11.7 per cent) and Niagara (+12.9 per cent). Read more.

After a soft start to the year, sales of luxury Toronto real estate is on the upswing, surpassing 2018 trough levels. Year-to-date sales in the GTA of freehold and condominium properties priced in excess of $5 million topped 100 units between January and October 31. This is up 8.5 per cent from the 94 sales reported during the same period one year ago.. Read More

A new RE/MAX report finds that Canada’s largest cannabis producers are being credited with micro-booms in some local economies, and the trickle-down effects are visible in nearby housing sales and price increases. This trend is more pronounced in Eastern Canada, where there’s a greater number of large-scale cannabis producers. It is expected that similar growth related to marijuana legalization will impact other regions as well. Meanwhile, Western Canada is seeing a heavier influx of cannabis retailers. While cannabis storefronts were met with some resistance across Canada, the expected backlash didn’t transpire or manifest itself with negative impacts on residential real estate. Read more.

RE/MAX helped introduce the Accessible Trick or Treating program in 2018, and its success has prompted an expanded program in 2019. The movement aims to raise awareness and make Halloween accessible for kids of all abilities. When a homeowner posts the Accessible Trick or Treating sign on their front lawn, they pledge to remove barriers by handing out treats from as accessible area of the property, such as the garage or the foot of the driveway. Treat Accessibly and RE/MAX have partnered with The Home Depot Canada as the official distribution point for the signs, which will be available for FREE starting on October 20, available at all 160 Home Depot Canada locations (excluding Quebec) while supplies last. Read more.

RE/MAX Canada, ranked as one of the top 100 most admired companies in Canada according to Leger’s Reputation Study: 2019, dives into the realm of reality TV with the launch of #HomeGoals. Developed in collaboration with APEX PR/ruckus Digital and produced by Route Eleven, the new series offers a behind-the-scenes look at real homebuyers, and the conversations behind the biggest purchasing decision of many Canadians: a home. The series – hosted by YouTuber and social media personality Ashley Bloomfield – is scheduled to launch in October 2019 on RE/MAX Canada’s YouTube channel and will be promoted via Instagram. Read more.

The bounce-back in single-detached home sales is contributing to an uptick in average price in the Greater Toronto Area. Detached home sales were up in almost 88 per cent of markets examined, while prices were up in 51 per cent of markets between January and June 2019, compared to the same period one year ago. The 905 area saw the greatest increase in home-buying activity, with all 30/30 areas reporting rising detached home sales, and 43 per cent of 905 communities experiencing price appreciation. Meanwhile in the 416, just 20 of the 35 districts experienced an uptick in sales, while detached home prices increased in 57 per cent of neighbourhoods. Read more.

A new survey of RE/MAX brokers and agents has found that recreational properties across Canada are seeing a healthy year-over-year price increase, with 74 per cent of regions surveyed experiencing an uptick. Compared to 2018, the median price of recreational properties, including waterfront, non-waterfront, water access and ski-in properties, has increased seven per cent across the board. Median prices were calculated for the periods of July 2017 to June 2018, and July 2018 to June 2019. Read more.

The RE/MAX 2019 Recreational Property Trends survey conducted by Leger finds that the majority of Millennials (56 per cent) are in the market to purchase a recreational property. This is up 14 per cent from last year, when just 42 per cent of Millennials were considering buying a recreational property. In 2018, 91 per cent of recreational markets surveyed reported that Baby Boomers accounted for the majority of activity. While Boomers continue to be a driving force in 2019, the increase in buying intentions in the 18-34 age group alludes to the start of a new trend in recreational buyer demographics, and what this new wave of buyers will be looking to purchase. Price remains the top consideration for recreational property buyers, with 61 per cent of survey respondents naming affordability as the most important factor. However, liveability also plays a crucial role in the selection process. Read more.

Canadians genuinely celebrate the liveability factors — the qualities that give each homeowner the true satisfaction of his/her home within the context of a neighbourhood — when it comes to choosing a property to buy and live in. In fact, 89 per cent of Canadians would recommend their neighbourhood to others according to a recent RE/MAX survey conducted by Leger. The RE/MAX 2019 Liveability Report examined a variety of quality-of-life factors and how they impact Canadians’ home-buying decisions. “Housing is often a contentious topic in Canada, with affordability and inventory being persistent problems from coast to coast,” says Christopher Alexander, Executive Vice President, RE/MAX of Ontario-Atlantic Canada. “However, when buyers are looking for a home, the search begins at the neighbourhood level. And the good news is that Canadians have lots of choice when it comes to ‘liveable’ cities and neighbourhoods.” Read more.

The housing market throughout much of Atlantic Canada is poised for solid growth in 2019 as economic performance ramps up, unemployment rates decline, and first-time buyer incentives at both provincial and federal government levels take hold. The RE/MAX Atlantic Canada Market Report examined residential real estate trends and developments across 15 markets for the first quarter of 2019, and compared them to the same period one year earlier. Strong momentum prevailed in the larger urban centres, with spillover in several smaller markets. Home sales are on par or up in seven of 15 markets surveyed, likely due to the current shortage of inventory, while housing values have climbed in almost three-quarters of markets surveyed. Read more.

Migration patterns of residential homebuyers in the Greater Toronto Area have shifted west, with market share rising in Halton Region and West Toronto between 2013 and 2018, according to a report released by RE/MAX of Ontario-Atlantic Canada. RE/MAX analyzed sales trends in nine Toronto Real Estate Board districts/regions over the past five years. Halton Region – comprised of Burlington, Oakville, Halton Hills and Milton — captured 10.1 per cent of total market share in 2018, leading with a 2.3-per-cent increase over 2013, while Toronto West climbed almost one per cent to 10.5 per cent. Read more.

While ski resort properties continue to be relatively affordable, 67 per cent of Western Canadians don’t believe they can afford them. According to a recent RE/MAX survey of Western Canadians conducted by Leger, only 23 per cent of respondents claim to be able to purchase a ski resort property. Read more.

As Canadians’ household debt ratio creeps higher across the country, single Canadians who are interested in buying a home on their own (26 per cent) seem to be on a different path. According to a recent RE/MAX survey conducted by Leger, almost half of respondents (43 per cent) have less than $5,000 in debt, casting doubt on claims that debt is impacting their decision to purchase a home. For more than half of single Canadians, the choice not to purchase is driven by economic uncertainty and high home prices (52 per cent). Meanwhile, 81 per cent of singles who want to purchase a home say that they have the ability to do so, and finance the property on their own. Read more.

Modest price increases are expected in 2019, as the RE/MAX 2019 Housing Market Outlook estimates the average sales price to increase by 1.7 per cent. Housing markets across the country have stabilized in 2018, after the unprecedented increases in average sales price that many markets experienced in 2017. However, there continue to be some outliers in 2018 average sales price gains, particularly in areas outside of the main city centres, such as Chilliwack (+ 13%), Windsor (+13%), London (+17%) and Charlottetown (+11%). Read more.

Sales of single-detached homes priced $1-2 million have declined in Toronto and Vancouver, down 35 per cent year-over-year, according to the 2018 RE/MAX Spotlight on Luxury Report. In contrast, the luxury condo market in the $1-2 million range remains popular, particularly in larger urban centres. Toronto experienced a two-per-cent increase in luxury condo sales, while Vancouver sales were up six per cent and Victoria luxury condo sales increased 19 per cent. These trends have been largely driven by Baby Boomers and Millennials. Read more.

Both Kelowna and Edmonton are poised to become hot spots for Canada’s cannabis market post-legalization with competing cannabis enterprises looking for operating space in both cities. While Kelowna’s commercial real estate market saw an 8 per cent decrease in total sales value for commercial property types year over year, the city has identified more than 900 locations for retail spaces. It’s expected that the approval of licenses will be extremely competitive further driving prices up for the remainder of 2018 and beyond. Read more.

Buoyed by a strong summer market, demand for detached homes in the Greater Toronto Area is finally on the upswing, as active listings fall and average prices start to rebound, signalling an end to the housing market correction. After peaking in May, the Toronto Real Estate Board reported that the supply of detached homes listed for sale has gradually declined. Average price in the nine TREB districts has been battling back from trough levels that were reached as early as July of 2017 in Durham Region to as recently as February of 2018 in the Central Core. “We expect momentum to build moving into the traditional fall market, and the trend to continue throughout the remainder of the year,” says Christopher Alexander, Executive Vice President and Regional Director, RE/MAX INTEGRA, Ontario-Atlantic Canada Region. Read more.

With real estate continuing to be a hot topic, what do near-future homebuyers in Canada’s hottest markets have to say? A new RE/MAX survey conducted by Leger found that nearly 51 per cent of Generation Z (age 18-24) in the Greater Vancouver Area would like to own a home in the next few years, while those in Toronto are more inclined to continue to rent or live with their parents. According to the survey, 46 per cent of Generation Z in Ontario and British Columbia who don’t own a home, would like to buy one in the next few years. Additionally, 67 per cent of Generation Z in Ontario and British Columbia are stressed when thinking about purchasing a home. In the Greater Toronto Area and Greater Vancouver area this is higher at 75 per cent in the GTA and 71 per cent in the GVA. Read more.

A recent survey of RE/MAX brokers and agents found that recreational properties are experiencing a surge in pricing, with 78 per cent of regions surveyed showing a higher median price in 2018 compared to 2017. A RE/MAX survey conducted in the spring showed that 91 per cent of popular Canadian recreational markets are being driven by retirees, and with seniors outnumbering children in Canada for the first time as reported last year, retirees as a population are also driving up prices.Compared to 2018, the median price of recreational properties, including waterfront, non-waterfront, water access and ski-in properties, has increased by 13 per cent across Canada. Median price information was calculated for the periods of July 2016 to June 2017, and July 2017 to June 2018. Read more.

Price appreciation in the second quarter of 2018 showed a marked improvement over Q1 figures, with the average detached housing values in the Greater Toronto Area (GTA) on par or climbing in 75 per cent of Toronto Real Estate Board (TREB) districts, according to a report released by RE/MAX INTEGRA, Ontario-Atlantic Region. The RE/MAX Hot Pocket Communities Report examined sales and average prices for detached homes in 65 TREB districts for the first and second quarters of 2018. The quarterly comparison found that second-quarter sales were up almost across the board (63/65), with housing values on par or rising in three-quarters of GTA markets (49/65). Read more.

The RE/MAX 2018 Recreational Property Report reveals that in 91 per cent of popular Canadian recreational property markets examined, retirees were the key factor driving activity. This includes established recreational regions such as Prince Edward County and Comox Valley. This is in stark contrast to last year’s findings, when retirees were a dominant driving force in only 55 per cent of markets examined. The survey found that in British Columbia, Ontario and Atlantic Canada, more retirees and soon-to-be retirees are purchasing recreational properties outside of urban centres for use as retirement homes, increasingly blurring the line between recreational and residential properties. Read more.

The 2018 Spring Market Trends Report reveals that more than one in four Canadian homebuyers is feeling the effects of the stress test. Government intervention and the new mortgage rules are expected to continue playing a pivotal role in home-buying behaviour in the months ahead. Despite these factors, the spring market across most of the country is projected to strengthen as we head into the warmer months. Supply is still low in many markets, and while prices may not reach the same levels as this time last year, RE/MAX expects healthy price appreciation to continue from the earlier months of this year across many regions in the country. Read more.

The 2018 RE/MAX Luxury Property Report reveals luxury homes sales in Toronto, Oakville and Hamilton-Burlington are short of 2017’s record-breaking pace, but will still see plenty of move-up activity in 2018. The report found 76 properties over the $3-million price point sold in the GTA between January 1 and February 28, down from 180 during the same period in 2017. Homes priced $5 million plus fell 46 per cent in the GTA. Oakville reported six sales over $3 million, compared to 15 one year ago. Hamilton-Burlington saw 59 homes over $1 million sold in January and February, versus 133 in 2017. Only Toronto condominiums and townhomes bucked the trend, with eight sales over $3 million in 2018, up from five during the same period in 2017. Read more.

Low interest rates, population growth, investment and unprecedented equity gains all combined to spark one of the strongest decades for price appreciation in Ontario’s six largest housing markets.Between 2007 and 2017, the province’s six major housing markets experienced substantial growth despite some serious challenges that included a financial crisis and subsequent recession. RE/MAX found that housing values more than doubled in the 10-year period in the Greater Toronto Area and Hamilton-Burlington, while average price rose 81 per cent in Kitchener-Waterloo; 63 per cent in London-St. Thomas; 62 per cent in Windsor; and 44 per cent in Ottawa. Read more.

This past year saw the single-family detached home and condo markets diverge on distinctly different paths in Canada’s two highest-priced real estate markets, Greater Vancouver and the Greater Toronto Area (GTA). The trend is expected to continue into 2018 as a mix of relative affordability for condo units and price appreciation for detached homes in recent years, combined with government policy changes in both markets, has helped push an influx of buyers toward condo ownership. The RE/MAX 2018 average residential sale price expectation for Canada is an increase of 2.5 per cent as the desire for home ownership remains strong, particularly among Canadian millennials. Read more.

Both Calgary and Edmonton saw strong year-over-year increases in total dollar value of commercial property sales during the first half of 2017 as a result of the ongoing stabilization of the oil sector. In contrast, total dollar value of commercial real estate sales in Greater Vancouver declined by 37.5 per cent during the second quarter, indicating a return to market activity at levels seen prior to 2016, which was a year of record-setting activity. Winnipeg’s commercial market remained strong with high demand across almost all property types, while Regina and Saskatoon slowed due to the ongoing downturn in the commodity sector….read more.

As real estate prices remain high in Canada’s urban centres, young families are looking for unique ways to finance their dreams of recreational property ownership. In a recent survey conducted by Leger, more than a quarter (28 per cent) of Canadians with children under the age of 18 indicated they would consider selling their primary residence in the city in which they live in order to purchase a cottage, cabin or ski chalet. Other options that these potential buyers are willing to consider include fractional ownership in a shared property, purchasing a recreational property with a friend or family member, and renting out the recreational property they purchase on a vacation rental website such as AirBnB…read more.

Significant price increases and high demand in The GTA during the first quarter of 2017 spurred growing numbers of buyers to leave the downtown core. These buyers are looking for greater affordability in markets across southern Ontario and are driving price appreciation in Mississauga, Brampton, Durham, Barrie, Hamilton-Burlington, Windsor, and as far away as Kingston.At the same time, housing demand has slowed in Greater Vancouver compared to Q1 of 2016, and the average residential sale price decreased 11 per cent year-over-year, from $1,094,936 in the first quarter of 2016 to $969,900 in 2017…Read More

The average residential sale price increased 13 per cent in Greater Vancouver to approximately $1,020,300 and rose 17 per cent in the Greater Toronto Area (GTA) to an estimated $725,857. Although demand remains high in both urban centres, limited inventory in the freehold market, the new 15 per cent foreign-buyer tax in Vancouver and the recent tightening of mortgage rules by the federal government are expected to soften market activity in the short term…Read More

Much of Western Canada continued to experience slower market activity in the first half of the year, as regional economies continued to recover from the downturn in the oil sector. However, in B.C.’s Lower Mainland, activity was brisk and prices continued to increase significantly in the commercial property market…Read More

As real estate prices rise, many Canadians are looking for alternative ways to finance their dreams of cottage or cabin ownership. In a recent survey of RE/MAX agents and brokers, more than half reported seeing an increase in buyers who planned to rent out their property full- or part-time. In a separate survey of Canadians, conducted by Leger, nearly 60 per cent agreed that due to the emergence of popular, user-driven vacation rental websites, it is easier for an owner to rent out an investment property today versus five years ago…Read More

Vancouver and Toronto continued to see significant price appreciation in the first quarter of the year. Greater Vancouver’s average residential sale price in the first quarter of 2016 rose 24 per cent, and the Greater Toronto Area, the average residential sale price during the first quarter rose 14 per cent. Outside of Vancouver and Toronto, surrounding regions continue to experience a spillover effect as buyers move farther out in search of affordable single-family homes…Read More

Low inventory in High demand and low supply continued to characterize Vancouver’s and Toronto’s housing markets throughout 2015 as competition from buyers over the limited inventory of single-family homes pushed prices higher. The average residential sale price increased 17 per cent in Greater Vancouver and 10 per cent in the Greater Toronto Area, to approximately $947,350 and $622,150, respectively. As demand shows no signs of waning, these markets are expected to continue to see price appreciation in 2016, of seven per cent in Greater Vancouver and five per cent in the Greater Toronto Area…Read More