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Maroc Maroc - STOREYS.COM - A La Une - 18/Dec 17:51

STOREYS Year End Real Estate Series

As far as Canadian real estate goes, 2024 largely followed in 2023’s tracks. The year was characterized by many of the same challenges, from crushed affordability to downcast home sales to insolvencies that ran the gamut of big projects and small. But there was some semblance of reprieve this year that set it apart from last, with the Bank of Canada lowering its policy interest rate for the first time in the cycle in June. This ended up marking the first of five rate cuts that punctuated the latter half of 2024, sending a signal to real estate sector stakeholders that better days are not far ahead. On top of that, the year brought a fresh sense of urgency from government when it came to housing supply and affordability. Love 'em or hate 'em, there's no arguing that housing was the issue on every policy-maker's lips. The jury's still out on whether or not that lip service will affect any real change.As we round out 2024, the STOREYS team has taken some time to reflect on the stories that struck us, including (our takes on) the most important trends, newsmakers, issues, and policies of the year. So stay tuned!STOREYS' Trend Of The Year: The Pivot To Purpose-Built Rentals STOREYS' Newsmaker Of The Year: The Receiver STOREYS' Issue Of The Year: The Condo Market

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