Real Estate in the News

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Real estate news stories that we’ve been following this week.

Average Vancouver home now 12.5 per cent more expensive –
The Real Estate Board of Vancouver says that the lower volume of listings is pushing home prices higher, an average of 12.5% in April alone. The rising costs are also responsible for bidding wars in parts of the city that were previously unaffected by the current hot home sales market. Also read “Price Correction Risk Remains Low in Vancouver, Canada“.

Toronto sales hit new monthly record –
The Toronto Real Estate Board released April numbers and reported 11,303 home sales in the GTA, the highest level on record with an increase of 17% (year over year). Also read “GTA Realtors Release Monthly Resale Housing Figures“.

Toronto city council to study new drone rules –
When drones are used how heavily should their use be regulated? The answer is coming and will certainly impact how real estate brokers can video and show off their homes for sale in the Toronto area.