Mar 17, 2014 | CREA/OREA/RECO News |
According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity was little changed in February 2014 on a month-over-month basis.
Highlights:
- National home sales edged up 0.3% from January to February.
- Actual (not seasonally adjusted) activity stood 1.9% above February 2013 levels.
- The number of newly listed homes edged up 0.6% from January to February.
- The Canadian housing market remains in balanced territory.
- The national average sale price rose 10.1% on a year-over-year basis in February.
- The MLS® Home Price Index (HPI) rose 5.1% year-over-year in February.
The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations was little changed from January to February 2014, edging up just three tenths of one per cent. The February result follows five straight monthly declines and leaves activity 9.3 per cent below the peak reached in August 2013.
Read the complete report here.
Mar 11, 2014 | CREA/OREA/RECO News |
Are you using the latest app version?
CREA periodically releases maintenance updates to REALTOR.ca or ICX.ca mobile apps to correct issues and implement minor changes. Anyone using the apps should ensure they are using the latest app version. (more…)
Feb 14, 2014 | CREA/OREA/RECO News |
According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity posted its fifth consecutive month-over-month decline in January 2014.
Highlights:
- National home sales fell 3.3% from December to January.
- Actual (not seasonally adjusted) activity stood 0.4% above January 2013 levels.
- The number of newly listed homes edged up 0.2% from December to January.
- The Canadian housing market remains in balanced territory.
- The national average sale price rose 9.5% on a year-over-year basis in January.
- The MLS® Home Price Index (HPI) rose 4.8% year-over-year in January.
The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations and other co-operative listing systems fell 3.3 per cent on a month-over-month basis in January 2014. This marks the fifth straight monthly decline, and leaves activity 9.1 per cent below the peak reached in August 2013.
Read more.
Feb 12, 2014 | CREA/OREA/RECO News |
They’re back!
The Montreal and Quebec City real estate boards are back in the CREA fold after a new deal was worked out between the two boards and the Canadian Real Estate Association. (more…)
Feb 12, 2014 | CREA/OREA/RECO News |
OREA ads see impressive results (more…)
Jan 15, 2014 | CREA/OREA/RECO News |
According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity posted its third consecutive month-over-month decline in December 2013.
Highlights:
- National home sales fell 1.8% from November to December.
- Actual (not seasonally adjusted) activity stood 12.9% above weak December 2012 levels.
- The number of newly listed homes dropped 4.3% from November to December.
- The Canadian housing market remains in balanced territory.
- The national average sale price rose 10.4% on a year-over-year basis in December.
- The MLS® Home Price Index (HPI) rose 4.3% year-over-year in December.
Read the details here.
Jan 15, 2014 | CREA/OREA/RECO News |
OREA is looking for volunteers for committees and task forces. Apply online for positions by visiting www.orea.com – click on “Members”, log in and select Volunteer Application Form from the blue menu on the left. Application deadline is March 13, 2014.
Jan 15, 2014 | CREA/OREA/RECO News |
Montreal and Quebec say good-bye to CREA
The members of the Montreal and Quebec real estate boards have voted to leave the Canadian Real Estate Association (CREA). The vote in Montreal was particularly close – 50.9 per cent of members who voted chose to leave CREA while 49.1 per cent voted to remain. 61 per cent of members did not vote at all.
As of the end of December, CREA had not offered an official response beyond what was reported in REM magazine – that the situation is evolving and that there are members within the departing boards who may consider other options in order to remain in CREA.
CREA seeking new Directors
CREA is accepting nomination forms for positions on the CREA Board of Directors. There are three Director-at-large positions available (each for a two-year term) and four Regional Director positions – one of which is from Ontario.
Qualifications:
1. Minimum of three years experience as a director of a real estate board or association
2. Have been a REALTOR® for at least five years
3. For Regional Directors, be licensed in that Region.
Responsibilities of Directors are set out in Rule 6 of CREA’s Bylaws.
Candidacy forms must be received by CREA no later than January 28, 2014. For more information, contact Bill Harrington at 613.237.7111 or [email protected]
Director-at-large candidacy forms can be found here
Regional Director candidacy forms can be found here
Jan 15, 2014 | CREA/OREA/RECO News |
Message from RECO – commission options changed
Recent changes to REBBA 2002 provide additional flexibility in how brokerages charge for real estate services. Bill 55, the Stronger Protection for Ontario Consumers Act, 2013, has amended REBBA 2002. (more…)
Dec 11, 2013 | CREA/OREA/RECO News |
OREA Standard Forms – New and Revised Forms/Clauses for 2014 (more…)
Dec 11, 2013 | CREA/OREA/RECO News |
OREA Political Action (PAC) members met in Toronto in October to take four messages to provincial MPPS:
Do not grant municipalities the ability to impose municipal land transfer taxes.
Some municipalities in Ontario have been asking the province to grant them the authority to charge a municipal land transfer tax (MLTT) over and above the provincial land transfer tax (LTT), similar to the tax imposed by the city of Toronto.
For many people, this additional, non-financeable tax creates a barrier to home ownership. The spread of municipal LTTs to other regions of Ontario threatens to increase the cost of home ownership province-wide. The tax is fundamentally unfair and bad for the economy.
(Note: members of RAHB’s Communications/Government Relations Committee will be meeting with Hamilton and Burlington councillors to discuss MLTTs and the effects they have on home buyers and the local economy.)
Create a Marijuana Grow Operation Registry
Properties that were formerly used to manufacture illegal substances can pose a number of health and safety risks to home buyers. At present, it is extremely difficult for REALTORS®, lawyers and other professionals to find out if a property has been designated by a law enforcement authority as a marijuana grow operation (MGO) or clandestine laboratory.
OREA supports the creation of an MGO/clandestine lab registry using the Land Titles System. A registry will mitigate risks to consumers by ensuring that properties used as former MGOs are disclosed prior to completion of a real estate transaction.
Remove the provisions in REBBA 2002 that prevent registered salespeople from incorporating.
REBBA 2002 does not provide for the licensing of salespersons as personal corporations under Section 1.1 of the Act. In addition, REBBA 2002 does not permit a broker to pay a commission to an “unregistered entity” (Section 30c). Together these sections prevent an individual salesperson from conducting business through a corporation and taking advantage of lower tax rates.
Allowing registrants to incorporate will align the rights of real estate salespeople with other regulated professionals in Ontario and lowering taxes on Ontario businesses. Permitting personal real estate corporations will not affect consumer protection, will have limited implications for provincial revenue and will not require significant legislative resources.
Do not impose mandatory home energy audits
In October, 2013, the legislature passed a Private Member’s Motion that called for the energy efficiency labeling of new and existing houses at the time of sale. In essence, the motion recommends proclaiming section 3 of the Green Energy Act, 2009. This would create a system of mandatory home energy audits (MHEA) for every residential real estate transaction in Ontario.
Mandatory home energy audits would make home ownership less affordable by imposing additional costs on real estate transactions. It could delay transactions and could be used as a “bargaining chip” by buyers to pressure home owners to either spend thousands of dollars to improve the energy rating of their home or lower their sale price.
Watch for more information as OREA monitors these issues.
Dec 11, 2013 | CREA/OREA/RECO News |
New Policy on Out-of-Province Listings on REALTOR.ca
Effective October 27, 2013, CREA’s Board of Directors put into place a policy to remove from REALTOR.ca out-of-province listings which do not comply with provincial regulatory requirements. (more…)
