Canadian real estate prices show no sign of slowing down, even going into the winter. According to the Canadian Real Estate Association (CREA), prices jumped by tens of thousands in November. Not in one or two extraordinary markets either, but right across the country. Home prices have increased well over six figures since last year. Values are rising by more than the annual income of a typical family that lives in a typical home. 

Canadian Real Estate Prices Increased Over $20,000 Last Month

Canadian home prices are surging higher right across the country. A composite benchmark (a.k.a. typical) home reached $790,600 in November, up 2.7% ($20,785) from a month before. Compared to a year before, prices are now up a whopping 25.3% ($159,634). It was a record for both price and annual growth last month. Keep in mind that this is a typical home price across the country. Many individual markets are growing even faster.

Read More: https://betterdwelling.com/canadas-top-3-real-estate-markets-for-price-growth-each-climbed-over-250k/

Canada’s central bank used lumber prices to dismiss inflation, but it’s doing the opposite. In October, the Bank of Canada (BoC) used lumber to back its transitory inflation narrative. Short-term supply chain issues are the problem, not monetary policy, they explained. Excess demand fueled by easy money has since been acknowledged as the culprit by the US central bank. Still, Canada has yet to recognize elevated inflation is not transitory. As they sit quiet, the price of lumber has been soaring, driving home costs even higher.

Read More: https://betterdwelling.com/the-bank-of-canada-used-lumber-to-prove-transitory-inflation-then-prices-doubled/

Fairly often, TikTok will be speechless over New York City apartment options — and this real estate agent’s video tour on TikTok is no different.

From “the worst apartment ever” in the West Village to a 500-square-foot studio that’s basically just a closet, TikTokers feel a level of smugness over New York City housing.

In a recent video, real estate agent Claudia Degteva showed off a New York apartment with a shower in the living room. The location isn’t specified, and the rent is $2,200 per month.

Read More: https://ca.sports.yahoo.com/news/real-estate-agent-shows-off-164509035.html?guccounter=1&guce_referrer=aHR0cHM6Ly9pbXBhY3Rjb25kb2ludmVzdG1lbnRzLmNvbS8&guce_referrer_sig=AQAAALtjmpr5EwDJl7mBniV8YwnRrA_bgNGNZsdfE6ei15JrH32n7CUvUIKr8cLRwvL_VGWo8prwP2k5IfDaJzCKiMZbYbY7MY2JrXBeuriARlV0xF1vqez23kRKADQw34UeCOLfZRrEJWodMywVajXvq_4HeeTtnO_GzelGkl2tEv5Q

This week at CES 2022, the tech industry’s annual mega-show, makers of smart-home products had a buzzword: “Matter.”

About two dozen companies showcased products that would be compatible with Matter, a new smart-home protocol that aims to enable devices to work with each other across different brands and systems. Exhibitors at CES 2022 showed they were on board with the new standard, which is backed by big-name brands like Amazon, Apple, Google, and Samsung. Matter is slated to be released this year, possibly the first half of 2022.

Matter will offer an open source connectivity standard so that smart-home devices can seamlessly integrate with one another. For example, Amazon announced new developer tools to make it easier for Alexa partners to support Matter. Google announced Fast Pair in showing its support for Matter. Other companies like GE Lighting, LG, Mui Labs, Nanoleaf, Sengled, Samsung’s SmartThings, and Belkin all showed products that will support the new standard.

Read More: https://magazine.realtor/daily-news/2022/01/07/smart-home-tech-developers-embrace-new-connectivity-standard

Toronto real estate prices are some of the fastest growing of any global hub, but it might seem slow at home. Canadian Real Estate Association (CREA) data shows Toronto is the slowest growing market in Ontario. Small cities are growing up to 3x faster, closing the gap between the county’s economic engine.

Toronto Real Estate Prices Have Grown Over 28%

Toronto real estate prices have shown massive growth over the past few years. The benchmark price hit $1,188,700 in November, up 28.3% from a year ago. Any double-digit annual growth is considered very fast, but nearly a third higher? That’s huge and unprecedented for the city. Somehow that massive annual growth was the second slowest of any major market in Ontario.

Read More: https://betterdwelling.com/toronto-real-estate-is-on-fire-but-its-also-ontarios-worst-performing-market/

Double-digit price gains, investors, condos and suburbs expected to remain hot housing trends in 2022, experts say.

Read More: https://www.thestar.com/news/gta/2021/12/26/happy-new-year-for-the-housing-market-expect-another-pandemic-fuelled-sellers-market-in-2022.html

Calgary is currently among the most affordable of the major cities in Canada for real estate, which is particularly attractive given the out-of-control prices being seen in other major markets. According to a recent report, homes in Calgary are actually deeply undervalued. However, according to local realtor Jesse Davies, growth potential in the market means there is still a lot to look forward to.

According to the Calgary Real Estate Board’s (CREB) new statistics release for the month of November, the average price of a detached home in the city was $542,600, up over 10% year over year. Semi-detached homes averaged $429,800 and apartments averaged just $251,700 with the lowest year-over-year increase. In addition, despite winter being seen as a traditionally slow season for the city, according to CREB sales have remained strong at “roughly the same levels seen since August” while inventories continue to fall.

Read More: https://calgaryherald.com/life/homes/new-homes/calgarys-strong-2021-real-estate-market-expected-to-continue-in-2022/wcm/ace79d99-bbb6-457e-9d0f-c481f7c0e197/amp/

Calgary’s real estate market has experienced a banner year in 2021 so far, and the good times are likely to keep rolling in 2022, a new report suggests.

PwC released its 2022 Canadian real estate forecast this fall, including for Calgary, noting the city is experiencing newfound optimism about its economy and, in turn, real estate.

Read More: https://calgaryherald.com/life/homes/new-homes/calgarys-strong-2021-real-estate-market-expected-to-continue-in-2022/wcm/ace79d99-bbb6-457e-9d0f-c481f7c0e197/amp/

Housing prices in Canada are expected to increase steadily in 2022, with inter-provincial migration continuing in many regions and a short supply of homes in those areas pushing up costs, according to Re/Max’s housing market outlook report published Wednesday.

Sale prices are projected to go up by 9.2 per cent on average across the country next year, the real-estate company estimates. It would follow an already “sensational” year in terms of sales and price appreciation, Re/Max’s president says.

“In the history of our nation, I don’t know of, certainly not in my tenure, of more than 95% of markets being in seller’s market territory,” he told CTVNews.ca in a phone interview. “So it can’t be overstated enough how strong the market was in Canada in 2021.”

Read More: https://www.ctvnews.ca/business/house-prices-in-canada-will-rise-higher-in-2022-real-estate-report-says-1.5689924