Strong October Real Estate Stats! 📈

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. 

Has Canada's housing market hit a turning point?

After months of muted activity, Canada’s housing market may be shifting gears as interest rate cuts fuel buyer demand and lift home sales across the country. RBC Economics reported a notable rise in home resales for October, with early data from local real estate boards showing strong gains in major cities from September levels.

Recent Immigration Cuts Could Lower Rents, Shrink Housing Supply Gap

Last week, the federal government announced it will be cutting immigration in response to mounting economic pressures, including the cost and availability of housing. This move from the feds would involve lowering the cap on permanent residents and introducing controlled targets for temporary residents.

Risks loom in the mortgage market as renewals and delinquencies rise

Hairline cracks are showing in a mortgage market that has held up remarkably well through a dizzying climb in interest rates and the economic slump that followed. The Canada Mortgage and Housing Corp.‘s fall report out yesterday said mortgage delinquencies — though still well below pre-pandemic levels — are rising and likely will continue to climb next year when more than a million borrowers face renewals.

Christmas Market – St. Thomas Belleville

Join St. Thomas Anglican Church on November 16th from 10:00am to 3:00pm for a Christmas market! Sewing, knitting, home baking, preserves, gift baskets, vendors, Christmas crafts—something for everyone!

Belleville’s Santa Claus Nighttime Parade

On Sunday November 17th from 4:30pm–7:00pm, enjoy Belleville's Santa Claus Parade! The route runs along Bridge Street West to East – beginning at Sidney Street and ending at Herchimer Avenue.