Warm Weather, Hot Market!

May 31, 2023

Warm Weather, Hot Market!

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 related. 

 

Need a break from real estate news? See why people love living here! Check out some upcoming events and activities happening in the Bay of Quinte & Prince Edward County areas!

Canadian residential mortgage debt hits $2.08 trillion: CMHC

Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt was $2.08 trillion as of January this year, up six per cent from January 2022.

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Posthaste: More than half of Toronto new condo investors are losing money for the first time

The losses were substantial. In 2020, such investors were making on average $63 a month. By 2022, they were losing $223 a month and early data suggests by the first quarter of this year that loss increased to $400 a month. About 11 per cent of this group were losing $1,000 a month or more, the report said.

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Quinte West Pop-Ups

The Quinte West Pop-ups are in their third consecutive year. Beginning May 31, the Pop-ups will be open from Wednesdays to Sundays from 11 a.m. – 7 p.m.

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Lake on the Mountain Provincial Park

Discover the mysterious Lake on the Mountain Provincial Park, which is not as straightforward as its name. A freshwater lake situated on a mountaintop.

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Canada's Housing Correction is OVER

In this week's YouTube video, I will dissect a housing market update published by RBC making claims that the correction may be over. Check it out and let me know your thoughts!

Watch Here

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