More Canadians are opting to lease their condominiums as a surging demand for rental properties persuade individuals to hold onto their properties, according to a RE/MAX Canada report.
released Thursday, it found the condo market is “losing inventory to an attractive rental market, as would-be sellers simply opt to lease their units long-term.”
“So, while fewer sales have occurred in 2022, condominiums represented a greater proportion of overall sales, as buyers gravitated to affordable options to achieve home ownership.” RE/MAX Canada also found condo sales were down in the first eight months of the year in the Greater Vancouver and Fraser Valley, Greater Toronto, Ottawa and Nova Scotia housing markets.While many Canadians may be waiting on the sidelines for a decline in housing prices, Elton Ash, executive vice president of RE/MAX Canada, said the recent slowdown in sales doesn’t mean there will be a crash anytime soon.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aritzia more-than doubles inventory, citing surging demand - BNN BloombergShares of Aritzia Inc. climbed as much as four per cent Thursday morning after the women’s clothier boosted its full-year sales outlook and revealed it has more than doubled its inventory to meet surging demand.
Read more »
The Daily Chase: Markets rattled by U.S. inflation; PBO forecasts smaller Canadian deficit - BNN BloombergWe all know what today’s main event is. The September U.S. consumer price index is expected to have risen 8.1 per cent year-over-year, which would be a slight moderation from August and a third straight month of decelerating inflation in the world’s largest economy.
Read more »
Surging rents have Canadian condo owners rethinking their plans to sell, report findsSellers are capitalizing on surging rents in Canada by holding onto their properties and becoming landlords. Read more.
Read more »
Condo Market Share Climbs to Over 50% in Vancouver, Over 30% in GTAA new report by RE/MAX showed that condo market share is growing, pointing to a lack of affordability in housing markets across Canada.
Read more »
The stock market could bottom in 2024: David Rosenberg - BNN BloombergInvestors looking to take advantage of market lows could be waiting until 2024, according to David Rosenberg, the founder and president of Rosenberg Research.
Read more »
Gilts fall amid U.K. policy confusion; U.S. stocks rise - BNN BloombergGilts fell and the pound whipsawed as traders struggled to make sense of U.K. policy. U.S. futures and European stocks rose ahead of Thursday’s inflation report.
Read more »