Blogs

Over the past few weeks, we've heard some pretty scary terms being tossed about regarding the housing market: Canada is in a housing boom – bubble – bust; the market is softening, deflating, freefalling, crashing. The truth is that the federal government's new mortgage qualifying regulations introduced a lot of uncertainty into the market. Many folks are calling us with one question on their minds, "Should I buy now or wait?"

Vancouver hit a new record for high end sales in 2014.

The latest Teranet-National Bank Composite House Price Index revealed a slight drop in Canada's house prices last December. Repeat sales of single-family homes also slipped by 0.2 per cent from the month earlier.

A new record was set for condos and townhouses in Calgary for 2014.

According to the Calgary Real Estate Board, latest figures show an 18 percent year-over-year rise in sales of condos with 17 percent for townhouses. Monthly figures for December showed declines across all sectors; not unusual for the end of the year. Single family sales totaled 708 units in December, a year-over-year decline of 8.3 percent. Meanwhile, total condominium sales also declined by six percent over the same time frame, but overall activity remained consistent with long-term averages.