E-signatures on the way!

Effective July 1, 2015, buyers and sellers in Ontario will be able to use electronic signatures on agreements of purchase and sale.

This was made possible by the recent proclamation of an amendment to the Electronic Commerce Act, 2000.

Electronic signatures on agreements of purchase and sale will help improve transaction efficiency by reducing the time required to complete a deal, help improve the consumer’s experience and save REALTORS® time and money.

The Ontario Real Estate Association (OREA) advocated vigourously over the last five years to have e-signatures become a reality for real estate transactions in the province of Ontario, and are to be commended for their efforts.

Go to http://rahb.ca/memberinfo/2015/electroniccommerceact.pdf.

 

Special  Professional Development course offering!

As of July 1, 2015, electronic signatures are permitted on Agreements of Purchase and Sale.  Learn more about electronic signatures in this important session.

Go Paperless
Tuesday, July 28, 2015
10 a.m. – Noon
Cost: Free
RAHB – McCullough Room

Click here for information and registration or contact Angela (angelam@rahb.ca) or Camryn (camrynh@rahb.c).

Canadian home sales strengthen further in May

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity posted a fourth consecutive month-over-month increase in May 2015.

Highlights:

  • National home sales rose 3.1% from April to May.
  • Actual (not seasonally adjusted) activity stood 2.7% above May 2014 levels.
  • The number of newly listed homes was little changed from April to May.
  • The Canadian housing market remains balanced overall.
  • The MLS® Home Price Index (HPI) rose 5.17% year-over-year in May.
  • The national average sale price rose 8.1% on a year-over-year basis in May; excluding Greater Vancouver and Greater Toronto, it increased by 2.4%.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose 3.1 per cent in May 2015 compared to April. This marks the fourth consecutive month-over-month increase and raises national activity to its highest level in more than five years.

May sales were up from the previous month in about 60 per cent of all local markets, led by increases in the Greater Toronto Area, Calgary, Edmonton, Ottawa and Montreal.

Read the whole report.

Canadian home sales up again in April

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity posted a third consecutive month-over-month increase in April 2015.

Highlights:

  • National home sales rose 2.3% from March to April.
  • Actual (not seasonally adjusted) activity stood 10% above April 2014 levels.
  • The number of newly listed homes was little changed from March to April.
  • The Canadian housing market overall remains balanced.
  • The MLS® Home Price Index (HPI) rose 4.97% year-over-year in April.
  • The national average sale price rose 9.5% on a year-over-year basis in April; excluding Greater Vancouver and Greater Toronto, it increased by 3.4 %.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose 2.3 per cent in April 2015 compared to March. This marks the third consecutive month-over-month increase and raises national activity back to where it was during most of the second half of last year.

Read the entire report.

Canadian home sales climb in March

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity was up on month-over-month basis in March 2015.

Highlights:

  • National home sales edged up 4.1% from February to March.
  • Actual (not seasonally adjusted) activity stood 9.5% above March 2014 levels.
  • The number of newly listed homes rose 1.8% from February to March.
  • The Canadian housing market remains balanced.
  • The MLS® Home Price Index (HPI) rose 4.95% year-over-year in March.
  • The national average sale price rose 9.4% on a year-over-year basis in March; excluding Greater Vancouver and Greater Toronto, it increased by 2.4%.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose by 4.1 per cent in March 2015 compared to February.

March sales were up from the previous month in nearly two-thirds of all local markets, led by Greater Vancouver, Fraser Valley, Calgary and Edmonton. Despite the monthly rebound, Calgary and Edmonton sales came in below the 10 year average for the month of March.

Read the entire report.

Canadian home sales edge up in February

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity edged up slightly on a month-over-month basis in February 2015.

 Highlights:

  • National home sales edged up 1.0% from January to February.
  • Actual (not seasonally adjusted) activity stood 2.7% above February 2014 levels.
  • The number of newly listed homes fell 2.5% from January to February.
  • The Canadian housing market remains balanced.
  • The MLS® Home Price Index (HPI) rose 5.01% year-over-year in February.
  • The national average sale price rose 6.3% on a year-over-year basis in February.

Read the full report.

Canadian home sales slip further in January

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity was down on a month-over-month basis in January 2015.

Highlights

  • National home sales fell 3.1% from December to January
  • Actual (not seasonally adjusted) activity stood 2.0% below January 2014 levels
  • The number of newly listed homes rose 0.7% from December to January
  • The Canadian housing market remains balanced
  • The MLS® Home Price Index (HPI) rose 5.17% year-over-year in January
  • The national average sale price rose 3.1% on a year-over-year basis in January

 

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations fell 3.1 per cent in January 2015 compared to December 2014.

Read the full report.

Canadian home sales down in December

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity was down on a month-over-month basis in December 2014.

Highlights:

  • National home sales fell 5.8% from November to December.
  • Actual (not seasonally adjusted) activity stood 7.9% above December 2013 levels.
  • The number of newly listed homes rose 1.1% from November to December.
  • Canadian housing market remains balanced.
  • The MLS® Home Price Index (HPI) rose 5.4% year-over-year in December.
  • The national average sale price rose 3.8% on a year-over-year basis in December.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations fell 5.8 per cent in December 2014 compared to November and remained above year-ago levels.

Read the full report.

CREA Updates Resale Housing Forecast

The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2014 and 2015.

With mortgage rates remaining at historic lows since the summer, activity has remained stronger for longer than previously expected and has yet to show clear signs of fading.

Read more.

Canadian home sales hold steady in November

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity was unchanged on a month-over-month basis in November 2014.

Highlights:

  • National home sales were unchanged from October to November.
  • Actual (not seasonally adjusted) activity stood 2.7% above November 2013 levels.
  • The number of newly listed homes edged down 0.4% from October to November.
  • The Canadian housing market remains balanced.
  • The MLS® Home Price Index (HPI) rose 5.2% year-over-year in November.
  • The national average sale price rose 5.7% on a year-over-year basis in November.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations was unchanged in November 2014 compared to October. As a result, activity remains much improved compared to the quiet start to the year.

Read more.

Canadian home sales edge higher in October

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity edged higher on a month-over-month basis in October 2014.

Highlights:

  • National home sales rose 0.7% from September to October.
  • Actual (not seasonally adjusted) activity stood 7% above October 2013 levels.
  • The number of newly listed homes rose 0.8% from September to October.
  • The Canadian housing market remains balanced.
  • The MLS® Home Price Index (HPI) rose 5.5% year-over-year in October.
  • The national average sale price rose 7.1% on a year-over-year basis in October.

The number of home sales processed through the MLS® Systems of Canadian real estate

Boards and Associations edged up 0.7 per cent in October 2014 compared to September.

This marks the sixth consecutive month of stronger resale housing activity compared to a quiet start to the year, and the strongest activity for the month of October since 2009.

Read the full report.

Canadian home sales ease back in September

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity in September 2014 was down from the previous month.

Highlights:

  • National home sales fell 1.4% from August to September.
  • Actual (not seasonally adjusted) activity stood 10.6% above September 2013 levels.
  • The number of newly listed homes declined by 1.6% from August to September.
  • The Canadian housing market remains balanced.
  • The MLS® Home Price Index (HPI) rose 5.3% year-over-year in September.
  • The national average sale price rose 5.9% on a year-over-year basis in September.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations fell by 1.4 per cent on a month-over-month basis in September 2014, marking the first monthly decline since January of this year.

Read the entire report.