The number of homes sold in the Greater Toronto Area (GTA) rose substantially in October, leading industry analysts to suggest that the Bank of Canada‘s interest rate cuts had improved affordability and encouraged buyers to re-enter the market.

The Toronto Regional Real Estate Board (TRREB) reported 6,658 homes were sold through its MLS system last month, a 44.4 per cent increase from October 2023. “It’s a really nice number to say, but we have to look at how low sales were a year ago,” said Toronto realtor Cailey Heaps, adding that “things are definitely tracking in the right direction,” though the market has yet to return to peak levels.

Graywood Developments and KingSett Capital have made changes to their plan for The Notable, a proposed 50-storey condo located a block southeast of the intersection of Yonge and St Clair in Toronto’s Deer Park neighbourhood. While maintaining the height and storey-count, the Turner Fleischer Architects design decreases the total number of units while proving more large units, shifting away somewhat from smaller investor-oriented units.

The site is an assembly of 29, 31, 33, and 39 Pleasant Boulevard, spanning approximately 1,490m² on the south side of the street. Currently, the western portion of the site remains vacant, while the eastern portion houses a two-storey residential building and a four-storey office building. It is in a well-connected neighbourhood rich with transit options, local amenities, and green spaces.

American interest in Canadian real estate has risen significantly this election year, according to online data from real estate franchiser, Royal LePage. A report released by the company today shows that visits to its website, royallepage.ca, from U.S. users more than doubled at the start of the election season, increasing by 104 per cent week-over-week in mid-June.

The jump in traffic, which rose an additional four per cent following the first presidential debate, continued through the summer and reached a single-day high on July 15 — the day Donald Trump officially secured the Republican nomination.

“Canada’s relative political and social stability, high quality of life, and access to education and universal healthcare, make it a highly attractive country for newcomers,” Phil Soper, chief executive of Royal LePage, said in the report, adding that, for Americans, proximity and minimal language barriers further enhance Canada’s appeal.

Canadian immigration policy will seek to slow population growth, but the impact will vary by province. In a new BMO Capital Markets research note, the bank explains regions with the highest number of temporary residents will be impacted most. As a result, that means shelter costs in BC and Ontario will see the most immediate impact from slower population growth. Regions less dependent on temporary residents are expected to have a near-term buffer, but it’s too early to dismiss a knock-on effect.

Canada reversed course on its population growth plan and will now try to shrink its population. This plan primarily involves tapering the number of temporary residents (TRs) in the country, such as those visiting on a study permit. Provinces with the largest inflow of TRs relative to the local populations will see the biggest impact.

“Immigration target changes are likely to weigh heavier in British Columbia and Ontario over the coming three years,” explains BMO senior economist Robert Kavcic.

Downsview Airport closed for good in April 2024, and while planes no longer taxi along the former military base, a new community with impressive towers will soon take flight from the runway and surrounding lands.

Canada Lands Company (CLC) submitted plans last week for its Downsview West District Plan, the company’s third community planned on the vast Downsview lands.

Located just northwest of the runway and adjacent to the Downsview Park TTC/GO station and Downsview Park, the project will put thousands of residents in proximity to the twinned transit stations.

A high-speed rail line linking Canada’s two largest cities, Montreal and Toronto, has been the stuff of dreams — and political campaigns — for decades.

But with the federal Liberal government poised to announce more detailed plans for the project, that dream is a step closer to reality.

In Ontario, the line would include stops in Peterborough and Ottawa. In Quebec, it would stop in Laval, Trois-Rivières and Quebec City.

“For me, it’s really something that could revolutionize Quebec and Canada,” Stéphane Boyer, the mayor of Laval, located just north of Montreal, told Radio-Canada.

“To better connect cities, in a more environmental way, is a game changer.”

Canadian households may be even less confident about the future of the economy than we think. Statistics Canada (Stat Can) data shows active businesses were unchanged in July. In fact, despite a booming population, the country has seen no growth in the number of businesses that operate. With businesses continuing to close at a faster rate than those opening, the problem may intensify as the global economy weakens.

Canada’s business community continues to show virtually no progress. The country reported 936,904 seasonally adjusted active businesses in July, unchanged from a month before. It was a slight improvement from a drop of 0.2% (-2,000 businesses) in June. It’s a trend that’s become sticky recently.

“… the number of active businesses has not posted a positive growth rate since January,” notes Stat Can.

Menkes’ Kimberly Sears tells STOREYS that the company has screened “over 175 offers to lease” over a six-month course, and of those, “over 90 of them were disqualified due to discrepancies found during the screening process.”

We’re at a really nuanced point in the Toronto area’s rental market. The market continues to be exorbitant, but it’s definitely cooling.

Still, that hasn’t put an end to the complications arising due to the fact that it’s a tough market for renters to break into — even if rents are continually coming down.

The Florida housing market has always been a topic of interest for buyers, sellers, and investors alike. With its sunny beaches, vibrant cities, and booming tourism industry, the real estate market in the Sunshine State has seen significant growth over the years. However, with any market experiencing rapid growth, there comes the question of sustainability and the potential for a downturn.

Is Florida’s housing market predicted to crash in the next two years? Experts say no. While growth may slow due to rising interest rates, Florida’s demographics and rebound predictions suggest a market with staying power. Here are the latest trends in Florida’s housing market.