National

Experts say housing market poised to remain strong in 2025

Darpan News Desk The Canadian Press, 30 Dec, 2024 05:13 PM

Housing market poised for 2025 comeback as lower rates unleash pent-up demand

Economists and real estate agents believe home sales activity is poised to remain strong in 2025, thanks to much lower borrowing costs and more favourable rules for buyers. Re/Max's 2025 housing market outlook report says it is expecting home sales to rise in 33 of 37 Canadian regions. It forecasts the national average residential price to rise by five per cent.

Along with falling rates, TD economist Rishi Sondhi said the federal government's recent mortgage rule changes, which kicked in on Dec. 15, should help lift home sales and prices.

While pent-up demand should translate to more homes changing hands in the coming months, he cautions that the rush will likely be exhausted in the first half of next year.

Prev Next

MORE National ARTICLES

Canada pushes net-zero electricity target to 2050 as Alberta vows legal challenge

Canada had previously signalled an aim to fully decarbonize electricity grids by 2035. But some provinces, namely Alberta and Saskatchewan, said that was simply not doable.

Canada pushes net-zero electricity target to 2050 as Alberta vows legal challenge

RCMP union applauds planned federal spending on border security

In its fall economic update Monday, the Liberal government said it would invest in cutting-edge technology for law enforcement so that only people who are eligible to remain in Canada do so.

RCMP union applauds planned federal spending on border security

B.C.'s projected deficit grows again to $9.4 billion in latest fiscal update

British Columbia's forecasted record deficit for this fiscal year has grown by another $429 million, reaching $9.4 billion. The province unveiled the latest quarterly update, the first under new Finance Minister Brenda Bailey, showing B.C.'s debt level to reach $130 billion by the fiscal year's end, which is $1.4 billion higher than September's projections.

B.C.'s projected deficit grows again to $9.4 billion in latest fiscal update

Police vehicle rammed in Walmart

A man who rammed a police vehicle in the Walmart parking lot in Quesnel was tracked down with a police dog last night. R-C-M-P say they received a report of a stolen vehicle yesterday and officers found it at Walmart with the suspect still inside.

Police vehicle rammed in Walmart

Canadians won't be taxed on disability benefit under proposed rule change

The Liberals are planning to introduce legislation to exempt the Canada Disability Benefit from being treated as income under the Income Tax Act. The fall economic statement, released Monday, is also calling on provinces and territories to ensure the program's recipients do not have their benefits reduced as a result of it.

Canadians won't be taxed on disability benefit under proposed rule change

Wind, snow, rain to pummel parts of B.C. again as search goes on for missing person

Another storm is rolling off the Pacific, bringing heavy rain and strong winds to British Columbia's coast and a blanket of snow to the Interior. It comes as the search continues for a person missing when their home was caught by a mudslide that also rolled over the Sea to Sky Highway near Lions Bay during a storm last weekend.