—The Mortgage Report: Aug. 19— Properly’s “Backup Offer” for Home Sellers Someday, the majority of Canadian home sellers will get a quote from an iBuyer. What’s an iBuyer? It’s a company that offers you roughly 7% less than fair market value to buy your home…fast. Why would someone take 7% less? Because some people place a high value on speed,...
Mortgage Report – Weekend Edition Prices Tumble in April: The national average home price in Canada has plunged almost 10% in one month (April). That’s never happened before in CREA data going back to 1980. The next closest month-over-month drop was -7.6% in April 1989. The data was skewed partly by the GTA’s 11.8% nose-dive. Home Inventories Skyrocket: The total...
6.2%. That’s how much Canada’s average home price could rise in 2020, according to CREA. The national average home price is already up 8.4% in the last 12 months. A country-wide average doesn’t tell the whole story, of course. The Prairies and Newfoundland are seeing much softer markets. And,economists’ 2020 consensus price growth estimate is just 3%. But given we’re...
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