The Canadian government launched Build Canada Homes to accelerate affordable housing, including transitional and supportive homes, partnering with various communities. It announced $165 million via the Apartment Construction Loan Program to build 370 rental homes at The Bull Tower in Toronto's entertainment district. The $55 billion program aims to support over 131,000 new rental homes nationwide by 2031-2032, boosting housing supply and the economy.
First-time homebuyers in Ontario should get home insurance to protect their property and liability, and never skip a home inspection to avoid costly repairs. Pay off mortgages faster by increasing payment frequency. Budget for closing costs beyond the down payment, including legal fees and taxes. Obtain a written warranty that the home wasn’t used for illegal purposes. Research thoroughly using available guides and consider working with an experienced real estate agent familiar with the area.
Toronto's program supports new rent-geared-to-income, supportive, affordable, rent-controlled, and purpose-built rental homes through grants, loans, fee relief, and tax exemptions for eligible projects.
Eligible projects must reserve at least 1 in 5 units as affordable rentals and keep rents controlled at affordability levels for at least 40 years.
Toronto offers interest-free pre-development loans up to $50K per affordable home, while another stream waives planning, permit, and select development-related fees and charges.
An Indigenous-focused stream offers grants, loans, and fee waivers; city council set a target of approving 5.2K affordable rental and supportive homes for Indigenous people.
Toronto's second purpose-built rental call closed in Early-Fall 2026; staff are reviewing >50 applications, with selected projects expected later in Fall 2026.
Halloween falls on October 31 because the ancient Gaelic festival of Samhain, considered the earliest known root of Halloween, occurred on this day.
In the eighth century, Pope Gregory III designated November 1 as a time to praise all saints.
Soon, All Saints' Day incorporated some traditions of Samhain and the evening before was known as All Hallows Eve, and later Halloween.
Over time, Halloween evolved into a day of activities like trick-or-treating, carving jack-o-lanterns, festive gatherings, donning costumes and eating treats.
Today’s the day to eat candies and sweets to your heart’s content! Happy Halloween!
The federal government is providing $165 million through the Apartment Construction Loan Program to build 370 rental homes in Toronto's entertainment district. The Bull Tower project at 128 Peter Street aims to support local housing needs and create an inclusive community near transit, parks, and amenities. This initiative seeks to offer opportunities for families to thrive and contribute to a stronger city.
Toronto's housing market shows a 2.1% drop in sales but a sharper 14.1% decline in new listings, tightening supply. Average home prices fell 4.5% year-over-year to about $993,410, with condos down 7.1%, townhouses 6.2%, and single-family homes 4.7%. The sales-to-new-listings ratio of 41.9% indicates a balanced but tightening market. Rent prices slightly decreased, while mortgage rates remain around 4.59% for a 5-year fixed term.
Ontario is projected to fall over 550,000 homes short of its 1.5 million new homes target by 2031 due to fragmented and outdated zoning and building codes. A provincial zoning code with standardized rules for housing types and limits on restrictions like parking and setbacks is recommended. Changes to building codes, such as allowing single-stair buildings up to six storeys, could reduce costs and delays. Increasing housing supply is essential for lasting affordability.
For Canada, a home price index helps gauge home prices and trends in local neighborhoods, giving REALTORS® a clearer read on shifting market conditions.
Unlike avg. or median prices, the index tracks how buyers value housing features, aiming for steadier comparisons that better reflect underlying price trends.
The approach supports apples-to-apples price comparisons, helping REALTORS® explain values more accurately and giving clients clearer market context for informed home decisions.
Each month, the index uses >20 yr of listing system data and statistical models to define a typical home from sold property features.
Those benchmark homes are then tracked across neighborhoods and house types, giving REALTORS® another tool to spot trends and guide client conversations.
A national index for 11 major metros slipped <0.5% MoM in the latest reading, marking eight declines in nine mo and reversing the prior uptick.
National prices sat at their weakest level since Early-Q2 2023, now ↓~4% from the Late-Q4 2025 peak reached nationally <1 yr earlier.
A rebound earlier in the year faded quickly: the adjusted measure ↓~0.5%, its first pullback in six mo after support from jobs and affordability.
Across major metros, yearly losses deepened to ~4% nationally. Vancouver, Hamilton, and Toronto led declines, while Quebec City, Montreal, and Winnipeg still posted gains.
Looking ahead, higher bond yields were expected to lift new mortgage costs, limit borrowing capacity, and pressure affordability as home sales began declining again.
Canadian borrowers could continue facing affordability pressure as borrowing costs remain elevated and economic uncertainty shapes the housing market.
Rate relief could improve affordability, but its impact will depend on inflation, economic conditions, and the Bank of Canada’s policy path.
Buyers may remain cautious, while higher financing costs continue influencing purchasing power, refinancing decisions, and overall housing demand.
For borrowers and investors, planning around current financing conditions remains important rather than relying entirely on future rate declines.
