Explore articles on the latest in Canadian real estate news with thoughtful insights from the Purplebricks team. Purplebricks makes understanding real estate simple.
National Real Estate
State of the Real Estate Market: June 2021
A more typical summer market occurred in June with numbers decreasing steadily month over month since the March and April highs. Nevertheless, market conditions remained tight, with limited supply continuing to put upward pressure on prices relative to one year ago.
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National Real EstateCanada's 3 Least Affordable Cities (and How to Afford Buying a Home in One of Them)We all know home prices have skyrocketed, but where do Canadians face the steepest entry to home ownership? Using the Desjardins Affordability Index (DAI), we’re taking a look at some of the highest-cost cities in Canada and some strategies to make buying a home in one of them a reality.
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National Real EstateState of the Real Estate Market: May 2021Soaring sales in March and April may have marked the crescendo of buyer demand in many local markets around the country as May saw numbers trend gently down. Nevertheless, market conditions remained tight, with limited supply continuing to put upward pressure on prices relative to one year ago.
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National Real EstateSold Over Asking: Why Real Estate Bidding Wars Could be on the Way OutWe’ve all heard the stories of homes selling for thousands over asking, but recent reports from some of Canada’s hottest markets suggest the tides may be turning. We’ll look at how real estate bidding wars contributed to the over-asking frenzy and the factors that could be ushering the trend out.
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National Real EstateWhat the New Mortgage Stress Test Means for First-Time Home BuyersStarting June 1, Canadian home buyers will be subject to a new mortgage stress test to ensure that they can handle their payments if interest rates go up. We’re taking a look at what the new stress test means for first-time home buyers in an already challenging market.
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National Real EstateState of the Real Estate Market: April 2021Though March holds the record for all-time sales in many parts of the country, it was a stunning April for Ontario, Alberta and Manitoba as strong buyer demand kept supply levels low and prices high relative to just one year ago. New trends may be emerging, but the market is still favouring sellers!
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National Real EstateReasons to Sell Your Home With a REALTOR® in Today’s Hot MarketWondering if you need a REALTOR® to sell in today’s hot market? We get it – buyer demand is through the roof and homes are selling fast! But before you post photos of your home on social media and order a “For Sale” sign online, read these four important benefits of selling with a professional.
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National Real EstateState of the Real Estate Market: March 2021Many Canadians wondered if we’d see a spring-market rush this year, and March did not disappoint! Strong buyer demand and seller’s market conditions in much of the country continued to propel sales and prices upward, while increased numbers of new listings suggest homeowners are ready to cash in.
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National Real EstateHow the Third Wave Could Affect Canada’s Real Estate MarketsNot so long ago, vaccine rollouts in Canada had us hoping we’d get COVID under wraps by the end of 2021 – then came the third wave. What could this mean for the spring and summer real estate markets? Given what we’ve seen happen, we’re exploring two possible scenarios.
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National Real EstateRental Market Update: What the Markets Look Like One Year Into the PandemicA year into the pandemic in Canada, jumping into the rental market with an investment property could be a great idea – if you’re in a position to weather potential storms. We’re taking a look at the latest data to bring you national trends and stats from six of the country’s largest markets.
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National Real EstateState of the Real Estate Market: February 2021Despite ongoing pandemic control measures, buyer demand continues to gather steam! Strong February sales in Ontario, Alberta and Manitoba kept waves of new listings in check, and with falling inventory levels, prices made impressive gains over the same month last year.
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National Real EstateShould You Buy a Home in a Seller’s Market?In the year since the pandemic halted the 2020 spring real estate market, record-breaking sales have pushed prices to soaring heights in many parts of the country, while inventory levels have dwindled. In seller’s markets like these, should you buy a home? Here’s what you need to consider.
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National Real EstateState of the Real Estate Market: January 2021Sales this January started 2021 on a high note, with most of Canada’s major markets posting substantial increases compared to the same month last year. As new listings decreased from last year’s numbers and inventory levels hit record lows in many regions, sellers have enjoyed watching prices rise!
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National Real EstateShould You Wait Until Spring to Sell Your Home? How the Pandemic is Affecting the Winter MarketsMany Canadian homeowners wonder if they should wait until spring to list their homes, but this winter has been a season like no other. With strong selling conditions in many of the country’s major markets, the question isn’t should you wait until spring to sell, it’s why wait?
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National Real EstateState of the Real Estate Market: December 2020December marked a strong end to an unprecedented year in Canadian real estate. Despite ebbing month-over-month sales, year-over-year figures prove that buyer demand remains strong and prices are on the rise. All told, it’s a great time to be a home seller.
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National Real EstateState of the Real Estate Market: November 2020Though November saw COVID-19 cases surge across the country, home sales have been consistently strong for the month in the major markets. Despite an easing of residential sales, new listings, and price growth from October, buyer demand is still strong, making it a great time to be a home seller.
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National Real EstateShould You Sell Your Home During the Pandemic?The outbreak of COVID-19 early this spring dealt some staggering blows to Canadian real estate; with declarations of states of emergency and the implementations of lockdown procedures, the industry all but stopped in its tracks. In view of ongoing waves, what should home sellers expect?
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National Real EstateShould You Buy a Home this Holiday Season?The holiday season in Canada typically sees slower real estate markets with more buyer-friendly prices. But with the 2020 real estate market being far from ordinary because of the pandemic, is this holiday season a good time to buy a home? Here’s why we think it might be.
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National Real EstateState of the Real Estate Market: October 2020Though October has been a month of ongoing challenges as our nation grapples with the effects of the coronavirus, residential sales across the country have remained strong after a record-breaking September, and year-to-date sales have surpassed the first 10 months of 2019 by 9%.
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National Real EstateAre We Experiencing a Real Estate Mini-Boom? Early Predictions vs. What We’re Seeing NowAs provincial states of emergency were lifted and/or modified following what are normally the busiest months for real estate in Canada, we voiced suspicions that the upward trend in sales might be the harbinger of a real estate mini-boom. So, were our predictions correct?
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National Real EstateState of the Real Estate Market: September 2020After a slight levelling-off of price gains and market activity in some parts of the country in August, sales numbers skyrocketed on a year-over-year basis across the board, pushing most of Ontario into even tighter seller’s markets and bringing some much-needed balance to parts of the West.
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National Real EstateWhat does the End of Canada’s Mortgage Deferral Programs Mean for the Real Estate Market?With the expiration of Canada’s mortgage deferral programs upon us and the economy starting to get back on track, what is the outlook for the national real estate market? Just like everything else affected by the coronavirus, there are differing opinions.
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National Real EstateState of the Real Estate Market: August 2020Nationally, home sales and new listings continued to climb in August, and while some markets have eased back down toward pre-pandemic expectations, others are still abuzz with high buyer demand.
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National Real EstateState of the Real Estate Market: July 2020July was a record-breaking month in terms of sales activity for many major markets in Canada. Inventory continues to fall short of demand, increasing competition among buyers and leading to multiple bids and price surges.
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National Real EstateSelling Your Income Property during COVID-19: What You Need to KnowCOVID-19 has shaken up a lot of areas of the real estate industry. As a landlord of a tenanted income property, you may be wondering if you can still sell your home during the pandemic. The answer is yes, you can. Here's what you need to know.
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National Real EstateStage 3 of Reopening: What to Expect When Selling or Buying a HomeAs many provinces start Stage 3 of reopening during the COVID-19 pandemic, you might be wondering how this phase will affect selling or buying a home. We outline what you can expect the process to look like.
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National Real EstateFast Sales: Homes Recently Sold in Less than 48 HoursHomes are selling quickly and for above asking in many markets, especially in regions that continue to experience seller’s markets during the pandemic. Here's a look at homes recently sold in less than 48 hours—and the sellers saved thousands in commission with our low, fixed-fee service.
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National Real EstateState of the Real Estate Market: June 2020Many markets saw a dramatic improvement in month-over-month sales activity, with some regions even seeing year-over-year increases in sales and average selling prices. That's amazing, considering we are in a pandemic.
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National Real EstateWinnipeg Home Sellers are Still Saving Thousands (even during COVID-19!)Winnipeg is a city with an ideal mix of urban living and nature, it is a great place to live, work, and play in – and a great place to save thousands in commission when selling your home!
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National Real EstateWhat Selling Your Home Will Look Like Post COVID-19 – Predictions from Our Broker of RecordWhile no one can know what selling your home will look like post pandemic, our Broker of Record, Randall Weese, makes some educated predictions based on what we’re already seeing happen.
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National Real EstateState of the Real Estate Market: May 2020We were happy to see month-over-month improvements in many markets, despite year-over-year figures still well below average.
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National Real EstateCMHC’s New Mortgage Rules Start July 1 – Here’s What You Need to KnowFind out what the new CMHC mortgage rules are and what they mean for homebuyers.
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National Real EstateVariable Mortgage Rates are Low, and Here's How They Work in Your FavourOver the past several weeks, the Bank of Canada has reduced its overnight rate from 1.75 to just 0.25. This means that homebuyers can get a desirable interest rate on their variable rate mortgage loan. Paying less interest on your loan means more money in your pocket.
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National Real EstateAre we Headed Towards a Mini Real Estate Boom? Possibly.Many Canadians who were hoping to capitalize on the spring market are holding their breath waiting to see how the real estate market reacts in the coming weeks and months amidst the COVID-19 outbreak. It is a bit of a guessing game at this point, but we can make some educated predictions.
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National Real EstateCity Series: Kitchener-Waterloo Region Home Sellers are Saving Thousands in CommissionWe are still seeing our Purplebricks home sellers in the Kitchener-Waterloo-Cambridge region successfully sell their home while saving thousands in commission! These sellers sold their homes in less than a month!
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National Real EstateCity Series: Hamilton Region Home Sellers are Saving Thousands in CommissionWhether you call it The Hammer, Steel City, or perhaps, you already call it “home”, Hamilton is an excellent city to live, work and play in – and a great place to save thousands in commission when selling your home!
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National Real EstateReal Estate Investing in Ontario During COVID-19: What You Need to KnowWhether you’re new to real estate investing and are ready to purchase your first property (congratulations!) or you’re a seasoned pro looking for the next great find, there are important factors to consider, especially during the COVID-19 pandemic.
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National Real EstateState of the Real Estate Market: April 2020Despite the continued State of Emergency due to the COVID-19 outbreak, we have seen less than expected month-over-month price reductions. However, home sales and new listings have dropped significantly year-over-year.
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National Real EstateWhy Living in Ottawa Should be on your Canadian Bucket ListRanked as the third best Canadian city to live in 2019 by Maclean’s magazine, living in Ottawa is safe, fun, and, shockingly affordable.
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National Real Estate14 Reasons Why Windsor is a Great Place to Call HomeAnd while Windsor is as close to Detroit as a Canadian city could be and it is home to Ford, GM and FCA auto plants, Windsor should be known for more than these two facts. Windsor is a great city to call home, and here’s 14 reasons why.
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National Real EstateState of the Real Estate Market: March 2020All markets saw a stark difference between the first two weeks of March and the last two weeks. In the past few weeks, new listings and sales have decreased but prices have not seen the same decline at this point.
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National Real EstateIt Will Be OK… in Real Estate, too!At Purplebricks, we truly believe that it will be OK, particularly in the real estate sector. Many homeowners are wondering if now is a good time to put their property up for sale. Here are a few things to consider to make an informed decision.
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National Real EstateHow Canadian Homebuyers are Being Supported During the Coronavirus OutbreakThe Government and financial institutions are reacting quickly to provide solutions during this unprecedented period in our history. As Canadian homebuyers, we are lucky to quickly have resources available to us.
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National Real EstateWant to give voice to hope? We’ve joined the #ItWillBeOk movement!The #ItWillBeOkay movement resonated deeply with us and we wanted our clients and staff to have an easy way to express this sentiment - so we created a drawing just for them! We encouraged anyone who wanted to join in the movement to post their creations in their windows or on their lawn signs.
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National Real EstateHow Purplebricks is Keeping Canadians Safe During the COVID-19 OutbreakPurplebricks has adapted quickly to this unprecedented time in our history. We are pleased to share that we are in full operation for home sellers and buyers - with specific pandemic modifications. The safety of our customers and our staff are top priority.
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National Real EstateHow COVID-19 is Impacting Canadian Real EstateThings have changed quickly nationwide due to the coronavirus outbreak, but there are still some good news pieces about the Canadian real estate market we should feel confident in.
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National Real EstateState of the Real Estate Market: February 2020As we post this February Market Data, it is hard to imagine that one month later we would be amidst the current COVID-19 situation. While the outbreak will certainly have an impact on the real estate market in the coming months, people are still listing their homes.
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National Real EstateHow to Navigate the Real Estate Market During the COVID-19 OutbreakCOVID-19 has shaken up our lives in Canada and worldwide. Schools are closed, workplaces are allowing staff to work from home, major league sports have halted — it seems like the whole world is standing still. But does that mean the real estate market should as well? Not necessarily.
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National Real Estate5 Reasons to Buy a Home in Winnipeg, Right Now!Looking at capital cities across Canada, Winnipeg is one of the most affordable while still allowing residents to enjoy city living with a strong job market.
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National Real EstateNow is the Time to Buy a Home in Calgary and Edmonton!Right now is an opportune time to buy in Alberta’s major markets. Home prices are down, and availability is up, which means homebuyers can find their dream home for a great price in very desirable cities.
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National Real Estate2020 vs 1920: How Homeownership Has Changed in TorontoWe are once again in the “roaring twenties”, so we are looking at how the housing market has changed in the last 100 years in Toronto. In the 1920s, Toronto was only just starting on the path to becoming the vibrant metropolitan area it is today.
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National Real EstateState of the Real Estate Market: January 2020Our monthly update will help you better understand the current state of the market in Ontario, Manitoba, and Alberta so you can make informed decisions with your real estate purchases.
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National Real EstateOutlook of the Canadian Housing Market: Thoughts from the World Economic ForumOver 6,000 km away in Canada at Purplebricks, we dove into the World Economic Forum conversations. We were left to reflect on how these discussions at Davos will impact the housing market in the Great White North.
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National Real Estate100 Years Later: How the 1920s Paved the Way for Women in the 2020 Real Estate MarketAlthough nearly every decade has been marked with gender equality progress, it is arguable that the 1920s is the most ground-breaking decade of the past 100 years for setting the foundation for women on the road to equality.
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National Real EstateDon’t Wait Until Spring! Now is the Right Time to Sell in OntarioThe weather may be cold but the real estate market in Ontario is hot, hot, hot for sellers. There is a shortage of supply in all major markets, which means now is the ideal time to list your home if you’re hoping to get top dollar and possibly multiple offers.
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National Real EstateState of the Real Estate Market: December 2019Curious to know how the real estate market is doing in Ontario, Manitoba, and Alberta? We thought so. Our monthly update will help you better understand the current state of the market so you can make informed decisions with your real estate purchases.
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National Real Estate2020 Forecast: The 5 Best Ontario Cities to Buy a Rental PropertyToday, having a “side hustle” is almost mandatory to get an edge up on retirement savings and to gain financial freedom sooner. Amongst the Etsy businesses and Instagram influencers, one of the oldest side hustles has stood the test of time and proven to be lucrative long-term – being a landlord.
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National Real EstateWhat Canada’s Massive Population Growth Means for The Housing MarketThis year Canada has experienced the largest population growth since Confederation. What caused this record-breaking spike after 153 years?
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National Real EstateState of the Real Estate Market: November 2019Curious to know how the real estate market is doing in Ontario, Manitoba, and Alberta? We thought so. Our monthly update will help you better understand the current state of the market so you can make informed decisions with your real estate purchases.
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National Real EstateState of the Real Estate Market: October 2019Curious to know how the real estate market is doing in Ontario, Manitoba, and Alberta? We thought so. Our monthly update will help you better understand the current state of the market so you can make informed decisions with your real estate purchases.
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National Real EstateThe Votes Are In! What the Election Results Mean for Canadian HomebuyersHousing affordability has been a hot topic in Canada and was a key point in political party campaigns. Each party had varying agendas, but overall making housing more accessible to Canadians and first-time home buyers was important for most parties.
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National Real EstateState of the Real Estate Market: September 2019Curious to know how the real estate market is doing in Ontario, Manitoba, and Alberta? We thought so. Our monthly update will help you better understand the current state of the market so you can make informed decisions with your real estate purchases.
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National Real EstateThe 5 W’s of the New First-Time Home Buyer IncentiveWith the 2019 Federal Election quickly approaching, all political parties are addressing housing affordability, especially for first-time buyers. Part of the discussion is the First-Time Home Buyer Incentive that recently took effect under the Trudeau Administration.
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National Real EstateOntario’s Top Ranked Communities Have Healthy Real Estate MarketsMacLeans has released its Best Communities in Ontario 2019 List. The top 3 spots go to Burlington, Grimsby and Ottawa. We can see why these communities were a cut above the rest! They have impressive features, including healthy real estate markets.
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National Real EstateWhat are Buyer’s, Seller’s, and Balanced Markets?Whether it’s when spring temperatures start to climb and snowy yards give way to green growth, or summer is over and everyone is back to a regular routine, buyers and sellers start pushing the real estate market into high gear.
