Ketiz Singh

Welcome to Ball of PR Real Estate Weekly News Recap!

Hey there, young readers! Welcome back to Ball of PR Real Estate. I’m Matthew Fifer, a real estate agent, and that’s my trusty assistant, Matilda. Today, we’re diving into the most interesting Canadian real estate news topics, including the latest forecasts from the Canadian Real Estate Association. But first, let’s kick things off with one of my terrible dad jokes that I’ve been sharing for years now. Have you heard about the benefits of eating dried grapes? It’s all about raising awareness (no pun intended)! If you have a terrible joke to share, drop it in the comments below!

Calgary Condo Prices on the Rise?

Recent reports suggest that condo prices in Calgary are set to double in the next 10 years! That’s a bold forecast from ZASA, looking at condo prices across Canada. While I wouldn’t put too much stock in predictions that stretch decades into the future, it’s still fascinating to see where the market might be headed. According to the forecast, Calgary is expected to see a 7% annual increase in condo prices. What do you think about these predictions? Let me know in the comments!

Canadian Real Estate Association’s Monthly Stats

Let’s take a closer look at the highlights of the latest report from the Canadian Real Estate Association. Sales were down 6% month over month, but up 19% year over year. New listings also saw a slight dip, while the home price index benchmark and average price both showed positive growth. It’s always interesting to dig into these stats and see how the market is performing. Have you been following the real estate trends in your area?

If you’re thinking about buying a house in Regina or anywhere else in the country, I’d love to help you out! Feel free to reach out and schedule a call with me. And if you’re in need of a great real estate agent outside of Regina, check out the link in the video description to find a handpicked agent from my network just for you!

Despite the excess inventory in cities like Toronto and Vancouver, the overall active inventory across the country is below the long-term average. It’s always interesting to see how different regions are faring in the real estate market. Keep an eye on those trends!

The Mortgage Renewal Buzz

There’s been a lot of buzz about the millions of mortgages set to renew by the end of 2026. While it might sound like a scary number, it’s essential to dive deeper into the details. Only 40% of those renewals will see a payment increase, giving homeowners some flexibility to manage any potential shocks. Remember, not every renewal spells trouble for sellers or the market as a whole!

In 2024, we saw a preview of what’s to come with mortgage renewals, and while some payments did increase, it didn’t lead to a flood of distressed sellers or a plummet in home prices. It’s crucial to look at the bigger picture and consider all the factors at play in the real estate market.

What’s Up with Mortgage Interest Rates?

Curious about mortgage interest rates in Canada? Recent updates suggest some slight jumps in rates, especially for insurable mortgages. Keeping an eye on these rates can help you make informed decisions when it comes to buying a home or refinancing. Stay tuned for more updates on this front!

Canadian Real Estate Association’s 2025 Forecast

The latest forecast from the Canadian Real Estate Association paints a positive picture for 2025, as long as nothing bad happens. With potential pent-up demand and stable interest rates, the market could see a 5% increase in home prices nationally and a 42% jump in sales. Regional forecasts also show growth across the board, with each province expected to see price increases. What are your predictions for the real estate market in 2025? Share your thoughts in the comments!

Remember, forecasts are just that – predictions based on current trends and data. It’s always essential to stay informed and be prepared for any changes in the market. Keep an eye on the latest updates and trends, and make wise decisions when it comes to buying or selling real estate

Thank you for tuning in to this week’s real estate news recap! Stay tuned for more updates, tips, and insights on the Canadian real estate market. And as always, feel free to reach out if you have any questions or need assistance with your real estate journey. Happy house hunting!