Canadian home sales rise 5.5% in May, reverse mortgages surge: Real estate news roundup
By
Moira Wyton
Summary
Canadian real estate market shows signs of recovery with national home sales rising 5.5% in May 2024, the largest monthly increase since November 2024. The article also covers the growing popularity of controversial reverse mortgages in Canada, issues with collapsing appliance stores leaving customers without support, and features a property of the week. Additionally, it provides the week's lowest fixed and variable mortgage rates in Canada.
Source
bskyCanadian home sales rise 5.5% in May, reverse mortgages surge: Real estate news rounduptheglobeandmail.comKey quotes
· 4 pulledNational home sales jumped 5.5 per cent in May, the largest increase since November, 2024
While homeowners cry foul over depressed prices, some buyers are using the market slump to score a little more bang for their buck
Controversial reverse mortgages explode in Canada
Collapsing appliance stores leave customers in the lurch
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