Quarterly Forecasts

 
December 15, 2020 – The national average price is forecast to rise by 9.1% in 2021 to $620,400. Average price trends across Canada in 2021 are generally expected to resemble those in 2020. Shortages of supply, particularly in Ontario and Quebec, are expected to result in strong price growth, while Alberta and Saskatchewan are anticipated to see average prices pick up following several years of depreciation.
 
  • Ottawa, ON December 15, 2020 – 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.

    Current trends and the outlook for housing market fundamentals suggest activity will remain relatively healthy through 2021, with prices either continuing to climb or remaining steady in all regions.

    Economic activity continues to improve slowly following the initial stages of the pandemic. Over the past several years, record levels of international immigration, low interest rates and an increasing share of millennials entering their home buying years have helped make the housing market a significant source of strength for the Canadian economy. The recent government support programs for individuals and businesses have also helped the overall economy through the most severe parts of the pandemic to date.

    Mortgage interest rates have declined to record lows in 2020, including the Bank of Canada’s benchmark five-year rate used by Canada’s largest banks to qualify applicants under the B-20 mortgage stress test. With the Bank of Canada committing to keep interest rates low into 2023, mortgage interest rates are expected to remain near current levels through 2021.

    Recent national sales trends have improved more than anticipated over the second half of 2020. New listings in most of the country have also recovered. However, while sales activity rebounded to record-high levels, new listings only recovered to about their five-year average in most markets. The relative strength of demand for homes compared with supply has meant sales activity has been eroding active inventory, which was already scarce in many markets pre-pandemic. That said, this has been a trend since 2015.

    The increase in demand has impacted every part of the country, including the Prairies and Newfoundland and Labrador. While these regions aren’t experiencing the same intensity of upward price pressures as the rest of the country, compared with previous years, demand is strengthening and prices have indeed started to increase.

    Despite the historic setback to the spring market caused by the pandemic, CREA projects national sales to hit a record of 544,413 units in 2020, representing an 11.1% increase from 2019 levels. The strength of the Canadian housing market was broad-based, with every province except Alberta registering a year-over-year increase in sales. British Columbia and Quebec stand out as large contributors to the overall gain.

    The national average price in 2020 is on track to rise by 13.1% on an annual basis to just over $568,000. This reflects the current balance of supply and demand, which heavily favours sellers in many local markets.

    On a monthly basis, sales are forecast to ease back to more typical levels throughout 2021; however, presuming there’s a more normal spring market in 2021, the year as a whole is expected to see more home sales than 2020. National home sales are forecast to rise by 7.2% to around 584,000 units next year. All provinces except Ontario are forecast to see increased sales activity in 2021, as low interest rates and improving economic fundamentals allow people to get into the markets where homes are available for sale.

    Ontario has seen strong demand for several years, particularly outside of Toronto, which has eroded active supply in the province. This shortage is expected to limit sales activity in 2021. The strength of demand, particularly for larger single-family properties, will drive the average price higher as potential buyers compete for the most desirable properties.

    – 30 –

    About the Canadian Real Estate Association

    The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations. CREA works on behalf of more than 130,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

Source:  CREA

https://www.crea.ca/housing-market-stats/quarterly-forecasts/?utm_source=membermarketing&utm_medium=email&utm_campaign=biweekly&utm_content=jan21 

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With most of us spending extra time at home this year, there’s certainly a backlog of projects you’ve been hoping to get to when you have the time. New Year’s resolutions aren’t just for you, they can be for your home too! So why not take some time this holiday season to plan your house goals for 2021. 

From cleaning every nook and cranny to finally getting around to building a new headboard for your master bedroom, we’ve got all affordable DIY New Year’s projects you could ask for. 

Cleaning the bathroom tiles and grout

Grout is one of those “set it and forget it” things we often overlook in a home. But grout is actually quite porous and can easily stain in high-traffic areas like kitchens or hallways. 

Get yourself a stiff bristle brush and some hydrogen peroxide, or another type of grout cleaner, and start scrubbing! You’ll be surprised by the difference freshly cleaned grout makes to your tiled floor or wall overall. 

Cleaning your floor

DIY an accent wall

If you’ve been thinking about a refresh but aren’t sure what to do, rather than repainting an entire room try an accent wall! 

You can use wallpaper or a mural to highlight a wall in a room or go the full distance and DIY wall paneling to create a more built-in and authentic effect. 

Accent walls can truly transform a room and can be done for well under $300 if you rent the necessary tools and equipment.

Baseboard maintenance

Oh baseboards. Those tricky out of sight, out of mind accessories. Except that baseboards are rarely completely out of sight. Baseboards are a friend to dust and grime and require some grooming to keep them in good condition. 

So, maybe this year’s resolution involves a little baseboard cleaning. Not to worry, it’s actually really easy. All you need is some soapy water and a dishcloth (OK, and maybe a few hours to get the job done). 

If your baseboards are starting to separate from the wall, grab some white baseboard caulk and work it into the crevice using a 5 in 1 tool, or your finger, to reseal them to the wall. 

https://unsplash.com/photos/NrR6ByFMBas

Eliminate office drawer and shelf clutter

We’ve been spending a lot of time in our home-offices this year. So naturally, things have piled up. With work-from-home orders extending into the new year and beyond, it’s a good time to clear out the clutter in your workspace. 

Start by going through all cabinets and drawers. Toss any loose papers, receipts, and miscellaneous items you don’t need. Order some drawer organizers, or get your hands on a couple of small baskets to group loose items together. 

Donate any books you don’t plan on re-reading, and store old notebooks in a box for safekeeping. 

Deep cleaning the oven

While some might regularly take care of this chore, others leave it as a once-a-year activity. 

This task takes about an hour and can be done for under $20! Snag some oven cleaner from your local grocery or department store, as well as a rag and scrub brush.

Remove everything from your oven and spray it down, including the back, sides, top, and bottom. Let sit for as long as your cleaning product suggests, usually 30 minutes or more. Remove the racks, spray them down, and leave them to sit for 20 minutes. 

Once the appropriate amount of time has passed, take a wet rag and wipe down all surfaces you sprayed. Rinse your racks in the sink, or outside with a garden hose, and voila! You’re done! 

A clean showerhttps://unsplash.com/photos/LGJ6MkX-la4

Cleaning hair out of the drain

Not for the faint of heart, this one’s for the folks truly committed to those home-inspired resolutions. 

If you’re handy, you can fashion an easy drain snake out of a wire hanger following this tutorial. Otherwise, head to your local pharmacy and pick up a bottle of CLR or Drano for an easier, less-involved option. Although, there’s something oddly satisfying with pulling it out yourself. 

Washing curtains/dusting blinds

Likely not on your laundry list are your curtains. These things just stay clean forever, right? Wrong! Curtains are a dust magnet, and overtime can actually lose their colour and vibrancy from the amount of dust they hold onto. 

Read the care instructions before throwing them in the wash—some curtains need dry cleaning, while others can be hand-washed. 

If blinds are your window covering of choice, take a wet cloth to them and lightly brush over them to reveal a good-as-new shine. 

A beautiful bedroom, with a freshly made bed and attention grabbing headboard. https://unsplash.com/photos/iAftdIcgpFc

Build your own headboard

Headboards can really upgrade a bedroom, but when purchased are quite pricey! But headboards are surprisingly easy to DIY. All you’ll need is some plywood, foam, and fabric as well as the right building tools. 

Make your own tufted headboard for under $150 in an afternoon. 

Steam cleaning the carpets

Every once in a while you’ll want to clean your carpets to keep them from collecting dirt, dust, allergens, and stains. 

Before steam cleaning you’ll want to remove all furniture, vacuum and spot treat any tough stains. Then, you can either use a carpet cleaner bought online or rented from your local hardware store for under $150! So easy, and so worth it. 

Bright lights with fun shades.https://unsplash.com/photos/NGb91VwnOWY

Take apart and clean your lights

Flush mount lighting and ceiling fans are prone to collecting dust and are rarely (if ever) cleaned. Take it upon yourself to go the extra mile and dust off those ceiling lights, your lungs will thank you later! 

Cleaning the fridge

Yes, it’s a grubby job, but there’s nothing like a sparkly clean fridge to lift one’s cooking spirits. Start by clearing out your fridge and emptying containers filled with old food and sauce you completely forgot about (gross, but worth it for the environmental impact of saving waste!) 

Next, remove any drawers and shelves. Take them to a bathtub or laundry sink and spray them down with some antibacterial cleaner. While they sit, spray down the inside of your fridge and wipe with a damp cloth. Rinse off the shelves and drawers and place them back in the fridge. 

Once it’s time to put things back in the fridge, opt for an organization method that works for you. We love the suggestion of using the top fridge shelf for ready-to-eat, or close to expiry items! 

A simple backspace, making your kitchen even cleaner.https://unsplash.com/photos/DlO0yz4U67A

Re-tile your kitchen backsplash

2020 brought a wave of hot new tile trends that will leave older kitchens looking outdated. Most kitchen backsplash tiles range from $4-10 a square foot. So, depending on the size of your kitchen, this is a project you can do for under $300! 

Follow this simple DIY tutorial to nail your first backsplash project!

https://www.youtube.com/watch?v=uDLtF9ET6rY

Whatever your New Year home resolution, make sure to take it slow. Don’t rush into a million projects; start with the things you think will give you the most satisfaction and take it from there! 


Source: Realtor.ca/blog

https://www.realtor.ca/blog/postpage/16461/1367/12-simple-diy-resolutions-under-300

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It’s not that hard to build a basic outdoor fire pit. You can do it in an afternoon, with a little elbow grease and less than $100.


TOOLS

  • shovel
  • level

Show All

MATERIALS

  • retaining wall blocks (we used about 36)
  • metal fire pit ring
  • 7” square concrete pavers or fire brick for the bottom of the pit (we used about 15)

STEP 1

Plan Location and Layout

A fire pit should be built at least 15 feet from any structure and close to a water source. Ideally, you’ll want it on level ground; it’ll make building it much easier and sitting around it more comfortable.

STEP 2

Determine the Size

The size of your fire pit will be determined by your metal fire ring. Place the ring and retaining-wall blocks on the ground to figure out the size of the fire pit. Mark the outside of the circle with the edge of a shovel.

STEP 3

Dig a Hole

Move the retaining wall blocks out of the way and dig inside the marked hole. Make the hole at least 7” deep.

STEP 4

Line Hole With Sand

Add a 1” layer of all-purpose sand in the hole and tamp it down flat. You may want to use a level to make sure it's all on the same plain.

STEP 5

Add Base Row

Lay the bottom row of blocks inside the hole. Place the outside of the block on the very edge of the sand.

STEP 6

Place Metal Ring

Place the metal ring on the sand inside the base row of blocks.

STEP 7

Insert Bricks Into Fire Pit Floor

Lay the pavers or fireplace bricks in the bottom of the fire pit. Cover as much area as possible.

STEP 8

Add Pea Gravel

Fill the gaps between the blocks and the pavers with pea gravel.

STEP 9

Place Remaining Rows of Blocks

Stack the outer blocks to your desired height. Stagger the seams of each layer.


To see the original article and video, check out: https://www.diynetwork.com/how-to/outdoors/hardscape/build-a-fire-pit-in-a-few-hours-for-under-100

Source: DIYNetwork.com


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