Real Estate News

TORONTO — The Teranet-National Bank composite house price index which tracks home prices in 11 of Canada's largest cities remained stable from March to April.

A study by Canada's national housing agency says housing starts aren’t keeping pace with available residential construction resources due to restrictive regulations and a "highly fragmented" industry.

The Canadian Real Estate Association says the number of homes changing hands in April fell from the previous month despite an influx of new listings hitting the market. On a month-over-month basis, CREA said home sales in April were down 1.

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March.

VANCOUVER — The B.C. government has introduced legislation that would allow the City of Vancouver to limit rent increases for new tenants in its poorest neighbourhood, the Downtown Eastside.

TORONTO — Five things to watch for in the Canadian business world in the coming week: Economic data The picture of how the economy fared in March will become a little clearer this week with a pair of reports from Statistics Canada.

The average asking rent for a home in Canada in April was up 9.3 per cent compared with a year ago, while a slight month-over-month increase was also recorded for the first time since January, a new report says. The report by Urbanation and Rentals.

MONTREAL — The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales surged 25.5 per cent in April compared with the same month last year, with levels returning to historical averages.

TORONTO — The Toronto Regional Real Estate Board says Greater Toronto home sales in April were down five per cent from last year, but new listings surged, which created more choice for buyers and kept prices stable.

VANCOUVER — Greater Vancouver's real estate board says the number of homes that changed hands in April rose 3.3 per cent from the previous year, but total sales were still well below the 10-year average for the month.