The Best Place to Work, Buy & Sell Real Estate

A significant mortgage renewal wave is on the horizon, with TD Economics estimating that 60 per cent of outstanding mortgages will renew by the end of 2026. Of these, 40 per cent are expected to renew at higher rates, presenting financial challenges for many households. The peak of these renewals is anticipated between late 2025 and early 2026. Households falling into this 40 per cent bracket are the most vulnerable to increased mortgage payments, potentially straining their monthly budgets and overall financial flexibility.

For example, a homeowner who secured a $500,000 five-year fixed-rate mortgage at 2.5 per cent in 2020 will likely face renewal at around four per cent. This would result in an additional $320 in monthly payments. However, not all borrowers will be affected the same way. Some mortgage holders — particularly those with short-term or variable-rate mortgages — may actually benefit from the current trend of declining interest rates. These borrowers, part of what TD calls the “early relief group,” often carry larger balances but may experience substantial drops in their mortgage payments upon renewal.

Others who entered the housing market during periods of rising interest rates could see mixed outcomes. Their new rates will depend heavily on the timing of their renewal and their original mortgage rate. While the overall mortgage renewal wave has been described as a potential “shock,” much of the sting has lessened. Financial conditions for many homeowners have improved since 2020, and home equity has increased, partly due to a 25 per cent rise in the national home price index. This gives some borrowers the option to refinance, extend amortizations, or prepay to ease the impact.

Still, economic stress will persist for some, particularly those facing job losses or reduced incomes. TD Economics anticipates the unemployment rate may rise to 7.3 per cent by the end of the year, which will coincide with the heaviest mortgage renewal period. Despite this, Solovieva remains cautiously optimistic, noting that the overall mortgage burden across the country is starting to ease. With mortgage-service costs expected to trend downward into 2026 — though still above pre-pandemic levels — many Canadians may find they have the resources and strategies to weather this transition.

According to the Calgary Real Estate Board (CREB), supply increases have been most notable in the apartment and row home segments, with inventory now exceeding long-term averages by over 30%.

“Supply has improved across rental, resale, and new home markets, providing more options for those exploring their housing choices,” stated CREB Chief Economist Ann-Marie Lurie. “However, the combination of additional supply, stable lending rates, ongoing uncertainty, and concerns about potential price adjustments is causing many prospective buyers to remain cautious.”

 This decrease in demand has contributed to the citywide benchmark price dropping to $586,200 in June, representing a 3.6% decline compared to last year. The most significant decreases occurred in the apartment and row home sectors, both down more than 3% annually, while prices for detached homes remained relatively stable.

 Detached home sales in June totaled 1,194 units, roughly 6% below both last year and the previous month. The decline was most noticeable in higher-priced homes competing with new-builds, especially in the City Centre and North East areas, where year-over-year sales fell by more than 20%. Despite this, detached home prices remained largely steady, with the benchmark price decreasing by less than 1% year-over-year to $764,300. The North East was the only area to experience a buyer-favored market, which contributed to a 4% annual price decline there.

 Among attached homes, semi-detached properties experienced modest price growth, with the benchmark reaching $696,400 in June—remaining unchanged from May and increasing by 1% compared to the previous year. However, this overall stability masked significant regional differences, with record-high prices in the City Centre contrasted by annual declines of over 2% in the North, North East, and East areas.

The row and apartment segments were more noticeably impacted by rising supply levels. Inventory of row homes increased to 1,167 units in June, while the sales-to-new listings ratio declined to 50%. Consequently, prices fell to $450,300—down more than 3% from the previous year. The North East saw nearly a 6% year-over-year decrease in prices.

In the apartment condominium market, both sales and new listings declined, but overall inventory continued to grow due to slower absorption rates. The months of supply approached four, contributing to a further decrease in the benchmark price to $333,500, marking a decline of more than 3% compared to last year. The largest price declines were observed in the North, North East, and South East districts.

As Canada faces growing housing challenges, real estate professionals are playing a key role in shaping the future of housing. Concepts like purpose-built rentals, multi-family homes, and sustainable development are shifting from buzzwords to core strategies. Realtors must now understand how these trends impact affordability, where new housing is being developed, and how they can help clients navigate these changes effectively.

Sustainable housing policy revolves around three key pillars: environmental, social, and governance (ESG). These factors shape how communities are planned and built, from reducing construction waste to ensuring housing supports social wellbeing and investor protections. Canada’s 2024 national housing plan emphasizes this shift, aiming to deliver millions of new, affordable homes by 2031 with ESG values at the core.

Practical strategies like adaptive reuse—converting old structures into housing—and infill development in underused urban areas are gaining popularity. These approaches preserve neighborhood character and promote efficiency while helping meet local demand. Realtors who stay informed on municipal planning and redevelopment initiatives are better equipped to guide clients toward high-potential investments and walkable, mixed-use communities that align with evolving lifestyle preferences.

As purpose-built rental construction rises—especially in cities like Montréal and Calgary—Realtors have new opportunities to connect renters and buyers with quality inventory. By partnering with developers, monitoring regional data through tools like CMHC’s portal, and educating clients on sustainability and long-term rental benefits, Realtors can position themselves as informed, future-forward advisors in Canada’s evolving housing landscape.

 Courtesy CREB

Selling your home can be an exciting but stressful experience. It often involves emotional attachment, financial pressure, and time-sensitive decisions, all of which can quickly become overwhelming. From deciding on the right listing price to preparing the house for showings and handling negotiations, the process demands careful planning and mental readiness. However, breaking it down into manageable steps can reduce anxiety and help you feel more in control. With the right approach, you can turn a potentially stressful experience into a smooth and successful transition:

1.     Hire a Great Real Estate Agent:
A knowledgeable and trustworthy agent is essential for a successful sale. The right agent will help you set a competitive price, market your property effectively, and handle negotiations with professionalism. Just as importantly, they can help protect you from potential fraud by screening serious buyers, handling legal paperwork correctly, and ensuring all transactions follow proper procedures. Be sure to research, read reviews, and make a right choice.

2.     Declutter and Depersonalize:
Start by removing personal items such as family photos, memorabilia, and excess furniture. A clean, neutral space allows buyers to imagine themselves living there. Pack up unnecessary belongings and store them off-site if needed.

3.     Deep Clean Every Room:
Hire a professional cleaning service or do a thorough clean yourself. Pay attention to often-overlooked areas like baseboards, ceiling fans, and window tracks. A spotless home signals that it's been well-maintained.

4.     Make Minor Repairs:
Fix leaking faucets, squeaky doors, and chipped paint. Replace burnt-out bulbs and repair cracked tiles. These small issues can create negative impressions if left unattended.

5.     Boost Curb Appeal:
The exterior is the first thing buyers see. Mow the lawn, trim hedges, plant fresh flowers, and clean walkways. Consider repainting the front door or replacing old house numbers for a refreshed look.

6.     Neutralize the Decor:
Bold colors and eccentric décor may not appeal to everyone. Repaint walls in neutral tones like beige, gray, or soft white to create a clean, inviting atmosphere.

7.     Stage Your Home:
Staging helps showcase the home’s best features. Use simple, tasteful furniture arrangements and décor to highlight space and functionality. Professional staging can be a worthwhile investment and the Agent will assist you to hire a professional stager.

8.     Gather Documents:
Organize warranties, appliance manuals, utility bills, and records of home improvements. This transparency can build buyer confidence.

By preparing thoroughly, you increase your chances of a quick sale at a desirable price.

Canada could return to 2019 levels of housing affordability—but getting there will take a major boost in homebuilding.

New estimates show that between 430,000 and 480,000 new homes need to be built each year over the next decade to meet demand and bring affordability back on track. That’s nearly double the current pace of construction across the country.

While this goal is achievable, it won’t happen without major changes. A larger, more modern workforce increased private investment, faster approvals, fewer delays, and lower development costs will all play a part. Innovation in building technology and better productivity in the construction sector are also key.

Some experts suggest that even building 400,000 homes annually could make a big difference, but challenges like a shrinking construction workforce and slow productivity will need to be addressed.

Where are the biggest housing shortfalls?

The provinces with the most pressing housing gaps include Ontario, Nova Scotia, and British Columbia—places that saw rapid price increases during the pandemic. In these areas, supply simply hasn’t kept up with population growth and demand.

Among Canada’s largest cities, Montréal currently has the biggest housing gap. Without a significant increase in building, affordability issues there are expected to get worse.

Toronto would need to boost construction by 70% over the next decade to ease affordability pressure. While rental building has grown, there’s a shortage of homes that match what people can afford to buy.

In Vancouver, 7,000 more homes a year—29% more than current trends—are needed. The good news: last year, over 33,000 homes were started, putting the region on the right track.

Calgary has seen record construction in recent years but still needs about 45% more homes annually to meet growing demand.

Ottawa-Gatineau also faces a large housing gap. Though building increased between 2021 and 2023, supply hasn’t kept up with rising demand.

On the flip side, Edmonton is in a good spot—current projections show enough homes will be built there to maintain affordability by 2035.

The spring 2025 update on Calgary's housing market is here, giving us a look at how things are shaping up so far this year—and what might be ahead. The latest outlook builds on the forecast from January, with fresh insight into home sales, prices, and the economic trends influencing the market.

So far this year, home sales have slowed a bit more than expected. That’s largely due to economic uncertainty making some people a bit cautious. But it’s important to keep things in perspective—sales are still stronger than they were during the tougher times between 2015 and 2019, and more in line with long-term norms.

On the supply side, we’re seeing an increase thanks to a wave of new home construction over the past few years—especially in higher-density developments like condos and townhomes. A lot of these are aimed at the rental market, but they’re also helping ease some of the pressure in the resale market by giving buyers and renters more options. In fact, the number of homes available for resale has doubled compared to last year, bringing inventory levels closer to what’s considered normal.

Naturally, when more homes are available and fewer are selling, some start to worry about a possible downturn. But we’re really just moving from a seller’s market—like we’ve seen over the past few years—to one that’s more balanced, and in some areas, even slightly favouring buyers.

More choice means some cooling in prices, especially in certain areas and home types. For example, apartment-style homes may see prices dip around two percent this year, while row homes could see a one percent drop. Detached homes, on the other hand, are expected to hold steady, since demand is still strong in areas where supply is limited.

While there’s still some uncertainty in the short term, strong population growth and a solid job market in Calgary are helping keep things on stable ground. Looking ahead, how policies around energy and the environment play out will also be important for the future of the housing market beyond 2025.

Cottage country homes in Ontario are experiencing longer listing times than usual, reflecting broader trends of cooling in Canada’s recreational real estate market. A shift away from the intense demand seen during the pandemic has led to a more balanced and cautious environment for both buyers and sellers.

Analysts suggest the urgency that defined the market during lockdowns—when remote work and travel restrictions fueled a surge in vacation home purchases—has now eased. With more economic uncertainty in 2025, buyers are proceeding more cautiously, and sellers are adjusting to a less aggressive market.

Prices have moderated in many regions, with some areas in Ontario seeing declines of over 20 per cent since 2024. Inventory levels remain steady, with expectations of increased listings during the summer months. Approximately 40 per cent of cottage markets may experience further price drops, though the remaining 60 per cent could see modest increases due to lingering demand and limited available properties.

After years of double-digit price growth, property values in the recreational market have generally stabilized, settling slightly below previous peaks. In Ontario, the median price for a single-family recreational home fell 1.5 per cent last year to $640,700, while condos declined by 5.7 per cent to $468,900. A marginal recovery is anticipated in 2025, with forecasts predicting a one per cent increase in single-family home prices and a 1.8 per cent rise nationally.

Despite increased inventory in some regions, demand has not significantly rebounded, even with lower interest rates. Additionally, regulatory restrictions on short-term rentals in certain areas may be discouraging investment in vacation homes.

Survey data indicates that nearly one in five Canadians planning to sell a recreational property within the next year no longer sees it as a strong investment. This shift in sentiment underscores the changing dynamics of the cottage real estate market as it moves away from the volatility of recent years.

In May 2025, home sales across Canadian MLS® Systems saw a 3.6% increase compared to the previous month—the first national gain in activity since November 2024. This uptick was largely driven by strong markets in the Greater Toronto Area (GTA), Calgary, and Ottawa. While it's just one month of positive momentum, it could signal a shift in the market. The recovery many were expecting in 2025 may have simply been delayed by earlier economic uncertainty and challenges, including the effects of tariffs. Although it’s still early, the latest data hints that things may be starting to turn around.

New listings also rose in May, helping to maintain a healthy balance between buyers and sellers. The ratio of sales to new listings held steady, pointing to continued stability in the market.

Despite the monthly bump in sales, activity remained slightly lower than in May of last year. Home prices held fairly steady, with the national average just below where it stood a year ago. After several months of declines, prices appear to be leveling off—another sign the market might be finding its footing.

Inventory levels continued to normalize, with just under 202,000 properties listed for sale by the end of the month. That’s a notable increase from last year, though still a bit below the long-term average. The number of months of inventory on the market was in line with historical norms, suggesting conditions remain balanced.

Real estate activity picked up noticeably in the second half of May and is expected to carry into June. As always, buyers and sellers should keep in mind that national trends don't always reflect what’s happening locally. For the best guidance, it's a good idea to connect with a trusted REALTOR® in your area.

A new report from the Canada Mortgage and Housing Corporation (CMHC) reveals a major downturn in the condo markets of Toronto and Vancouver, following years of rapid growth. Since mid-2022, sales of new, resale, and pre-construction condos have plummeted, driven largely by higher interest rates and shrinking investor appetite. By early 2025, condo sales in Toronto had dropped 75%, while Vancouver saw a 37% decline compared to the peak in 2022.

Despite the slowdown, developers have continued building, flooding the market with new supply. In 2024, a record 25,572 condo units were completed in Toronto and 12,442 in Vancouver. This has led to a severe oversupply, especially in Toronto, where it would now take nearly five years to sell the current inventory at the current pace. As a result, prices have come under pressure—falling 13.4% in Toronto and 2.7% in Vancouver since 2022.

Investors, who once drove much of the demand, are now feeling the squeeze. Higher mortgage costs, stagnant price growth, and tighter financing conditions have significantly eroded returns. In Toronto, investors who bought pre-construction units in 2024 could face capital losses of up to 6% by the time their units are ready. At the same time, the cost of carrying investment properties has risen faster than rental income—up 24% in Toronto and 29% in Vancouver—further reducing profitability.

In response to these market challenges, project cancellations have surged. Over half of Toronto’s pre-construction condos remained unsold in Q1 2025, leading to a fivefold increase in cancellations since 2022. Lenders, reluctant to finance projects without strong pre-sales, have pushed developers to pivot toward rental housing instead.

While the current glut has temporarily eased housing costs for buyers and renters, CMHC warns this relief may be short-lived. With fewer projects being built today, the pipeline of future housing is shrinking—setting the stage for renewed shortages down the line.

After a year of steady interest rate cuts that began in April 2024, the Bank of Canada held its key overnight rate at 2.75% for the second meeting in a row on June 4, 2025, signaling a more cautious, wait-and-see approach.

In its latest update, the Bank highlighted ongoing uncertainty around U.S. trade policy. The current U.S. administration continues to raise and lower tariffs—most recently doubling tariffs on steel and aluminum to 50%—with the possibility of further trade actions ahead.

Canada’s economy grew by 2.2% in the first quarter—slightly better than expected—driven mainly by a short-term boost in exports and businesses stockpiling inventory in anticipation of tariffs. However, the Bank expects that momentum to fade in the second quarter, as those temporary factors unwind and domestic demand remains weak.

There are also signs of strain. Consumer confidence has dipped, and the housing market is cooling, with a sharp drop in home resales. The labour market has softened too, particularly in sectors tied to trade, pushing unemployment up to 6.9%.

Inflation, as measured by the Consumer Price Index eased to 1.7% in April, largely due to the removal of the federal consumer carbon tax. Excluding that, inflation rose slightly to 2.3%, above expectations. Business surveys suggest many companies plan to pass rising costs from tariffs on to consumers—indicating more inflation may be on the way.

With mixed signals from the economy, the Bank’s Governing Council chose to hold rates steady while closely monitoring trade developments and their broader impact. Key concerns include the effect of tariffs on exports and employment, how quickly price increases are passed on to consumers, and how inflation expectations evolve.

The Bank also flagged another challenge on the horizon: upcoming COVID-era mortgage renewals, which could strain household budgets as a larger share of income goes toward interest payments.

Despite these uncertainties, the Bank reaffirmed its commitment to maintaining price stability and supporting sustainable economic growth. Its next interest rate decision and updated economic outlook are scheduled for July 30, 2025.

Airdrie
May sales in Airdrie improved over the previous month but remained below last year’s levels, contributing to a 10% year-to-date decline. However, the 772 sales recorded so far align with long-term trends. Rising new listings have pushed the sales-to-new listings ratio down to 58%, indicating more balanced market conditions compared to last year’s tight market. Inventory reached 468 units—the highest May level since before the pandemic—largely due to increased new construction. This added supply is putting downward pressure on prices, with the benchmark price dipping to $540,600, nearly 1% below last month and 2% below last year.

Cochrane
After a strong start to the year, Cochrane’s May sales dropped 17% from last year, pulling year-to-date activity just below 2024 levels. A surge in new listings brought the sales-to-new listings ratio down to 55%, boosting inventory to 293 units—more in line with historical norms. The months of supply approached three, slowing price growth. Still, the benchmark price rose to $589,400, up nearly 4% year-over-year.

Okotoks
New listings spurred a jump in May sales, with a sales-to-new listings ratio of 74%. However, inventory levels remain tight and are still 28% below long-term averages. Limited supply has kept months of supply below two and continues to support price growth. The benchmark price rose to $633,900—up from last month and over 2% higher than last year.