January Residential Stats + Macro Market Update

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. 

Federal government extends foreign buyer ban on Canadian homes to 2027

The federal government will continue to ban foreign nationals from buying homes in Canada for another two years as housing affordability concerns continue to trouble cities across the country.

Finance Minister Chrystia Freeland made the announcement on Sunday, saying Canada is extending its foreign homebuyer ban up until 2027.

Home builders group calls for action on mortgage rules, labour shortage

Canada is on the right track but won't reach its target of building 5.8 million new homes in the coming decade unless it loosens mortgage rules, addresses the labour shortage and helps to boost production of factory-built homes, says the Canadian Home Builders' Association (CHBA).

Is Canada's housing slump coming to an end?

January witnessed an uptick in residential transactions across Canada's major markets for the second month in a row, signalling that the housing downturn initiated in spring 2022 might be levelling off.

Join Élevage for an unforgettable experience, a one-of-a-kind winter wine festival taking place in Prince Edward County, ON, Canada, on Saturday, February 17th and Sunday, February 18th of the Family Day weekend. This celebration will be centred around the theme of wine and family connection, embracing the concept of “Nurturing our Roots.”

Valentine’s Day Dinner

The Smokin’ 116 Bistro will be hosting a Valentine’s Day Dinner and a Show to raise funds for the Quinte West Youth Centre’s mentorship program. Doors open at 6pm with access to their full menu and live entertainment will begin at 7pm. You can expect to see performances from The Stirling J Birds, Bees Knees and Cousin Gibbard Suede.