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Ontario real estate association calls for halt to open houses as COVID-19 cases rise – OrilliaMatters

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TORONTO — The Ontario Real Estate Association says it is asking agents to halt plans for open houses, as the province reported a record high of 939 new cases of COVID-19 on Friday. 

Open houses resumed in mid-July as part of the province’s Stage 3 reopening plan, which at the time allowed gatherings of 50 people, or 30-per-cent capacity, with physical distancing enforced.

On Friday, the province announced a modified return to Stage 2 COVID-19 restrictions, which would limit open houses to 10 people. The government is also asking people in those areas to leave their homes only for essential purposes.

Ontario real estate association president Sean Morrison said that notwithstanding the 10-person limit, he is encouraging members to shift open showings virtually, instead of a Sunday afternoon slot allowing anyone to touch the surfaces of a home. 

“OREA is pleased that the government is again listening to our advice on restricting open houses and we are hopeful that they will go a step further and ban them province-wide,” Morrison said. 

Morrison says agents and brokers could still follow safety precautions for private showings. 

Ontario real estate agents do have a disciplinary body, the Real Estate Council of Ontario, which can issue punishments to rulebreakers. In September, the Toronto Regional Real Estate Board took down an agent’s listing after he hosted an open house while a COVID-infected tenant was home.

But Morrison says the government would be a better first line of enforcement in terms of making sure open houses stay under control.

“Open houses in smaller properties like condominium units can be very difficult to conduct with social distancing.  A province-wide ban would set a clear rule,” said Morrison.

Quebec’s real estate regulator, The Organisme d’autoreglementation du courtage immobilier du Quebec, said that while no formal restriction, clarification or ban regarding open houses has been issued by local government authorities, “the organization of open houses in the current context is neither desirable nor recommended.” 

The new restrictions in Ontario come after months of record-high sales in many Ontario real estate markets, as pent-up demand to buy homes has outpaced supply of single-family homes and lifted prices. In March and April, transactions plunged as agents were encouraged to avoid any in-person transactions that weren’t urgent. Morrison said he isn’t recommending that level of shutdown at this point, and that he doesn’t think limiting open houses will slow down the hot market or limit sellers’ willingness to list.

“We are calling for our members to do the right thing,” said Morrison.

This report by The Canadian Press was first published Oct. 9, 2020.

Anita Balakrishnan, The Canadian Press

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Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

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TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

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