December 2021 News Letter

calendarDecember 6, 2021

peopleThe Mortgage Advisors

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2021 already a record year for Canadian home sale

Home sales recorded over Canadian MLS® Systems were up 8.6% between September and October 2021, marking the largest month-over-month increase since July 2020.

Sales were up month over month in about three-quarters of all local markets, and in all major cities.

The actual (not seasonally adjusted) number of transactions in October 2021 was down 11.5% on a year-over-year basis from the record for that month set last year. That said, it was still the second-highest ever October sales figure by a sizeable margin.

On a year-to-date basis, some 581,275 residential properties traded hands via Canadian MLS® Systems from January to October 2021, surpassing the annual record of 552,423 sales for all of 2020.

“After a summer where it looked like housing markets might be calming down a bit, October’s numbers suggest we might be moving back towards what we saw this Spring, with regards to current market demand and supply conditions,” said Cliff Stevenson, Chair of CREA. “That said, one month of data is not a trend, so we’ll be watching how the balance of this memorable year plays out closely. And remember, in what is still a rapidly changing landscape, your local REALTOR® can provide much more granular and timely information and guidance about what is going on in the neighbourhoods where you live or where you might like to in the future,” continued Stevenson.

Tips to help avoid post-holiday financial stress

(NC) The holiday season can be expensive. Between entertaining and choosing the perfect gifts, your wallet can take a hit.

Even if you do find some great bargains, credit card interest rates can quickly eat up savings from discounted prices if you carry a balance forward.

Reduce financial stress and boost your financial resilience in the new year by following these tips:

  1. Set a budget for gift spending before you start shopping — one for each person on your list, as well as a total limit for all gifts.
  2. Plan to pay the total amount owing on your credit card by the due date to avoid interest charges. If this is not possible, pay as much as you can — at least your minimum payment.
  3. Avoid taking cash advances on your credit card, as you will be charged interest immediately.
  4. Check your monthly statement carefully and report any unauthorized transactions to your credit card company immediately. This is especially important in January, since fraud occurs more frequently during the holiday season.

The Financial Consumer Agency of Canada has more tips and resources to help you budget and pay off your credit card at


Have mortgage questions?  We are here to help, reach out to anyone of our mortgage agents with any questions you may have.

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