Canadian Housing Market Shifting into Balance in 2023

Amid rising interest rates, and a looming recession, RE/MAX Canada is anticipating a modest decline of 3.3 per cent in average residential sales prices across the country in 2023.

The estimates are...

December 7, 2022 - The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening.

Inflation around...

An annual tax will be levied on vacant Toronto residences, payable beginning in 2023.

A property is considered vacant if it has been unoccupied for more than six months during the previous calendar year or is otherwise deemed to be vacant under the ...