How Our Market is Stacking Up Against Toronto and Canada 🇨🇦

Here is your weekly update on what is going on in the real estate market. From localized announcements to international trends, stay in the know about what is going on all things real estate. 

Spring should be a boom time for the housing market, it's not

In typical market conditions, we would be in the midst of a buoyant Canadian housing market with high demand boosting prices. But 2024 is not typical. With continued uncertainty about the Canadian economy and – for the housing market – whether mortgage rates will be eased by the start of interest rate cuts by the Bank of Canada, the spring housing market is sluggish and price rises are on hold.

Why Canada's biggest pension board is pulling back from real estate market

The Canada Pension Plan Investment Board (CPPIB) is rethinking its long-standing strategy of heavily investing in real estate after taking a hit from the weaker office market. In its latest fiscal year through March, CPPIB recorded an 8% overall return and saw its total assets swell to CA$632 billion. However, that solid performance was dented by a 5% loss on its real estate holdings.

The State of Canada’s Cottage, Chalet, and Cabin Markets

Not that long ago, Canadians were scrambling to purchase rural property to get away from congested cities, enjoy being outdoors, and find more room to breathe. After all, most people were working remotely, and most kids were being schooled virtually, too. Prices and sales soared, with properties being snapped up almost instantly. The landscape has shifted again—along with buyers’ wish lists. We asked REALTORS® in hot cottage markets what trends they’re seeing now.

Get ready for an unforgettable night of live music at The Smokin’ 116 Bistro on May 31st at 8pm! Matthew Holtby, the musical maestro from Warkworth, Ontario, has been enchanting listeners with his collection of singles. Joining him onstage is the one and only Harry Hannah, hailing from the North end of Northumberland, Ontario. 

Homestead Farmers’ Market

Join Homestead Marketplace for a regional Sunday market with farmers, food and beverage producers, makers, and artisans. This eclectic market serves the BoQ areas and supports small businesses. Stop by and connect with local vendors, pick up something fresh, and discover something new and unique.