Statistics released by the Canadian Real Estate Association (CREA) show national home sales edged up between August and September 2021.
National home sales rose 0.9% on a month-over-month basis in September.
Actual (not seasonally adjusted) activity was down 17.5% on a year-over-year basis.
According to studies, in 91% of analysed cases affording a sufficient down paymemt, buying a home is more financially beneficial than renting. One can pay the mortgage instalments instead of the monthly rents and eventually become a homeowner. In 91% of cases studied, the net cost of ownership is lower than the cost of renting is $769/mo.
Students around the world have their sights set on Canada.
According to new research by financial service provider Remitly, Canada is the most desirable country for students around the world looking to pursue their studies.
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Demand has remained incredibly robust throughout September. New listings are down by one-third compared to last yeat, and the lack of housing supply has reached a critical juncture. The average selling price was up both month-over-month and year-over-year.
Buying a home in many parts of the country is a tall order, but if you can afford it, you'll be better off financially compared to renting.
The pandemic dclines the rents as schools and jobs switched online, but now as University of Toronto is returning to in-person classe, there are worries about affordability.
