Existing MLS® home sales activity increased for the second month in a row in March 2009, according to statistics released by CREA. The number of new listings also continued trending lower in March, which firmed up the balance of supply to demand. A seasonally adjusted total of 31,135 homes traded hands nationally via the MLS® in March 2009. This is an increase of 7% from the previous month, and builds on the 10.3% activity gain in February. The number of transactions in March 2009 stands 18% a ... Full Article...

Bank of Canada lowers overnight rate target by 1/4 percentage point to 1/4 per cent and, conditional on the inflation outlook, commits to hold current policy rate until the end of the second quarter of 2010 OTTAWA - The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of a percentage point to 1/4 per cent, which the Bank judges to be the effective lower bound for that rate. The Bank Rate is correspondingly lowered to 1/2 per cent. The deposit r ... Full Article...

OTTAWA - Will they or won't they? With the Bank of Canada's key lending rate already a historic low 0.5 per cent, the country's central monetary policy-makers are facing the decision of whether to reduce further in an attempt to stimulate the economy, or end the cycle of rate cutting that began in October. The Bank of Canada is slated to make an announcement on interest rates Tuesday morning. The consensus of analysts polled by Reuters is that the rate will be left unchanged, which would be t ... Full Article...

While the Canadian housing market has felt the strain of the contraction in the domestic economy since the fourth quarter of 2008, improved housing affordability is mitigating some of the stress felt by home buyers, according to the latest housing report released Thursday by RBC Economics. “Declining consumer confidence amid dimming employment prospects and the turmoil in credit markets have had a predictable impact on Canada’s housing markets -- home sales have dropped; prices hav ... Full Article...

Skyscrapers are getting taller Despite the economic downturn, The Council on Tall Buildings and Urban Habitat (CTBUH) says 2008 was the single most successful year for tall building construction in history, both in terms of skyscrapers built and average height achieved. Furthermore, iconic structures are expected to continue to rise across the globe, particularly in Asia and the Middle East, to the point that the world’s current tallest building – the Taipei 101 – is likely t ... Full Article...

Poll asks what women want in home Women who have purchased a home say financial security, a backyard or garden and a quiet and private space to themselves are the best things about home ownership, according to a TD Canada Trust poll. Forty-three per cent of women say financial security is the best thing about home ownership, followed by having a backyard or garden (35 per cent) and having a quiet, private space to themselves (34 per cent). The poll, which reveals behaviours and attitudes of C ... Full Article...

Greenrealestate: Energy audits a success in England Canada’s largest province has made it clear that mandatory home energy audits will soon be a fact of life in the Ontario real estate market. So far, the positive response this announced legislation has received indicates that sooner or later other jurisdictions in Canada will likely follow. The legislation itself is hardly unprecedented – other jurisdictions such as Germany and the United Kingdom have already implemented mandatory ... Full Article...

Canadians still intend to buy - poll Sixty-five per cent of Canadians think it’s a buyers’ market right now and more than a quarter of those surveyed say they intend to purchase a home during over the next two years, says the 16th Annual RBC Homeownership Survey. The number of people who say they will buy within the next two years is up four points from 23 per cent in 2008. Almost half of those surveyed say it makes more sense to buy a home now than waiting until next year. The RB ... Full Article...

Re/Max teams with home staging expert Re/Max has teamed with home staging expert Carla Woolnough to help educate home sellers about ways to make their home more marketable. Woolnough is host of the DVD series How to Stage Your Own Home and owner of Nex-Step Design. The Re/Max initiative, Fit to Sell, encourages homeowners to increase their stake in the home-selling process by working with their real estate professional to bring their home to the market. “Sellers are no longer in the dri ... Full Article...

Home-renovation sector sees silver lining Landscapers expect a boost in projects, thanks to HRTC Despite continuing reports of economic doom and gloom, Canadians are not closing the door on home renovations. "Generally our renovators are optimistic in most areas of the country about their prospects for this coming year," says Don Johnston, senior director of technology and policy for the national office of the Canadian Home Builders' Association (CHBA) in Ottawa. "In terms of the coming year, ... Full Article...

Spring home maintenance tipsIf you're like most Canadians, your home is probably your most important investment. It's also the place where you and your family tend to spend a great deal of time. A regular schedule of seasonal maintenance can help you protect that investment for years to come, and help keep your home – and your family – healthy, safe and sound all year round. This spring, Canada Mortgage and Housing Corporation (CMHC) has a short checklist of simple inspections and r ... Full Article...

Economists forecast interest rates will remain lower at least for the comingUnder current conditions , only after you think about what house prices, your credit rating and your employment status will be down the line should you worry about where interest rates will be in one, three or five years. Economists expect rates to remain low for a year or so, then rise 2% to 3% as the effect of stimulus packages cause an increase in the consumer price index. A major aspect of the fixed-variable decisio ... Full Article...

Credit access looks to be improvingOTTAWA -- Signs emerged on Tuesday that banks and other market players might have enough credit at their disposal for the time being, as simultaneous auctions held by the Bank of Canada and Canada Mortgage and Housing Corp. aimed at pumping additional liquidity went under subscribed. Analysts said this is the latest sign that Canadian efforts to improve credit access during this financial crisis are working. "The [market] does not have as much pressing need fo ... Full Article...

Low rates not the only factorAs mortgage rates remain low, homeowners looking to renew their mortgages can get some great deals. However, those people who are hoping to secure a good rate are also likely to be assessing their own wider financial well-being, what with increasing job losses, stock-market routs and the recession. "If you [are] in a market sector that may be subject to layoffs or you believe that your employer may have issues and may not be there for you tomorrow, you may want to a ... Full Article...

Stocks rise on G20 optimism  Stock markets registered sharp gains for a third day in a row today as the rally received another shot of momentum from positive news at the G20 conference and a change to U.S. accounting rules that had forced banks to value their assets at current prices. Toronto's S&P/TSX composite index rose 131.32 points to 9,073.14. The strong showing extended a rally that started March 10 that has lifted the TSX 20 per cent higher – and into positive territory year to ... Full Article...

First quarter housing prices hover around $350,000 Edmonton, April 2, 2009: The average* price of single family homes in the Edmonton area has hovered around the $350,000 mark for the first quarter of this year, reported the REALTORS® Association of Edmonton. At the beginning of January the average price for a SFD was $351,870. The price varied slightly and at the end of March the average SFD price was $349,716, up 0.7% from the previous month. Condo prices were a little more volatile but popp ... Full Article...

In the last quarter of 2008, 6,198 people packed up their belongings and moved to Alberta which brings the province’s population to 3,632,483 as of January 1. Alberta was the only province with substantial interprovincial migration: BC came in next with 1,453 new residents according to statistics compiled by Statistics Canada, CMHC and the Conference Board of Canada. Now that our newest residents have been in the province for a while and have secured stable jobs and lifestyles, they are ... Full Article...