California home prices to grow more slowly next year, Realtors forecast, but sales may be stronger

Ultra-low mortgage rates and pent-up demand for single-family homes will offset continued economic uncertainty and a supply shortage in 2021, with the net result being a 3.3% increase in California home sales and a modest 1.3% increase in the median price next year versus 2020, according to a California Association of Realtors forecast published Tuesday.

With only a few months left to go, sales this year are expected to be

Read More Read more

Canadians opt for longer commutes as home prices grow in suburbs

For Al Figueiredo, the scenic drive down highway 116 to Crystal Beach was enough to convince him to leave Toronto.

The school teacher who splits his time between remote work and working in the city, decided to leave Toronto’s Trinity Bellwoods neighbourhood in late June for Fort Erie, Ont.

Figueiredo says the extra space, newer home and slower pace of life were worth the punishing one-and-a-half to two-hour drive to Toronto. Even if Zoom classes end and Figueiredo is expected to return to the classroom full-time, he says he prefers the company of his commuting radio station CHFI to cheerless interactions with neighbours in the city.

As prices rise in the suburbs of major Canadian cities, telecommuting workers like Figueiredo are looking further afield than what would be typically considered a “comfortable” commute.

Read more:
Employers, employees need to update expectations as pandemic continues, expert says

Story continues below advertisement

Read More Read more