Montreal home sales hit level not seen since 2014: Quebec housing association
The Quebec Professional Association of Real Estate Brokers says October home sales in Montreal dropped to a level not seen since 2014.
Sales for the month totalled 1,501, a 35 per cent decrease from a year prior, but in the single-family home category alone fell to a level not seen since 2000.
The association's director of its market analysis department attributed the drop in sales to the increase in interest rates and inflation, which have both weighed on purchasing power.
Charles Brant says the market is seeing a cautious attitude from people and investors who would make purchases but are instead waiting for the market to stabilize and conditions to be more favourable.
His association says the median price of a single-family home reached $510,000, a one per cent drop from a year earlier, while the median price of a condo hit $380,000 and was relatively unchanged from last year.
The median price in the duplex and triplex market was $700,000, which amounts to a $10,000 decline from October 2021 or a 1.4 per cent decrease.
Last month's new listings totalled 5,440, a two per cent increase from October 2021.
- This report by The Canadian Press was first published Nov. 3, 2022.
CTVNews.ca Top Stories
Canada Disability Benefit needs to safeguarded from clawbacks, MPs unanimously agree
The federal government needs to safeguard the incoming Canada Disability Benefit from clawbacks and do more to ensure it actually meets the stated aim of lifting people living with disabilities out of poverty, MPs from all parties agree.
BREAKING Security guard shot, seriously injured outside of Drake's Toronto mansion
A security guard working at Drake’s Bridle Path mansion in Toronto was seriously injured in a shooting outside the residence early Tuesday morning, police said.
King Charles too busy to see son Prince Harry during U.K. trip
Prince Harry will not be seeing his father King Charles during his current visit to Britain as the monarch will be too busy, Harry's spokesperson said on Tuesday.
opinion Tom Mulcair: Turfing Poilievre from House a clear sign of desperation by Trudeau Liberals
When Speaker Greg Fergus tossed out Pierre Poilievre from the House last week, "those of us who have experience as parliamentarians simply couldn't believe our eyes," writes former NDP leader Tom Mulcair in his column for CTVNews.ca
Your body needs these three forms of movement every week
Movement is movement, right? Not exactly. Here’s what your body is looking for in addition to your morning walk or yoga session, according to experts.
Six Canadian children repatriated from detention in Syria, Global Affairs Canada says
The Global Affairs Department says six Canadian children have been repatriated from detention in northeastern Syria.
'It looked so legit': Ontario man pays $7,700 for luxury villa found on Booking.com, but the listing was fake
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.
Quebec to limit sperm donations per donor after 3 men from same family father hundreds of children
Quebec is looking at tightening the regulations around sperm donation in the province following the release of a documentary that revealed three men from the same family fathered hundreds of children.
Canadian cadets rock mullets and place second at U.S. military competition
Sporting mullets, Canadian Armed Forces officer cadets placed second in an annual military skills competition in the U.S.