Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

How Biden’s Neighborhood Homes proposal impacts real estate investors

Dubbed the Neighborhood Homes Tax Credit, the proposal is part of the larger American Jobs Plan legislation — also known as Biden’s infrastructure plan. Here's a look into how it impacts real estate investors.

MortgageReal Estate

OJO Labs expands into Canada’s “tight” housing market

Natalka Falcomer named president of Canada operations

Real estate platform OJO Labs is expanding into Canada, the company announced this week.

Canadian customers can now work directly with the OJO concierge team to connect with local agents and mortgage professionals from Royal Bank of Canada, said Natalka Falcomer, who was named president of OJO Home Canada.

“OJO Labs provides intuitive, personalized consumer experience, streamlining the process by matching homebuyers and sellers with the insights, tools, and industry experts they need at just the right time,” Falcomer said. “This is crucial in Canada’s nuanced marketplace, which is moving at lightning speed.”

Canada’s housing market reached record heights over the last year due to increased demand for bigger living spaces combined with other factors, Falcomer said — leaving Canadian homebuyers facing the tightest market on record. 

The price of the average Canadian home that sold in June was $679,000, a 25% increase from the prior year. As is the case in the U.S., while sale prices have skyrocketed, the number of sales is beginning to trail off, largely due to the combination of low inventory and record prices.

The Canadian Real Estate Association, an industry trade group, said Thursday that home sales have fallen for three consecutive months after hitting an all-time high in March 2021. Just over 50,000 Canadian homes changed hands during June.

Markets in British Columbia and Ontario have surged over 30% over the last year, and it’s primarily the suburbs that have shown the biggest gains. The annual increase in Vancouver came in at around 14%, while in Toronto it was 20%, CREA said.

John Berkowitz, OJO Labs CEO, said the company will now offer coverage in the Greater Toronto Area, Southwestern Ontario, the Greater Ottawa Region, Calgary Metropolitan Region, Edmonton Metropolitan Region, Central Alberta, Saskatchewan, Nova Scotia, Newfoundland and Labrador, Vancouver, Fraser Valley, Okanagan-Mainline, Victoria and Vancouver Island.

This year alone, OJO Labs acquired real estate search site Movoto and personal finance platform Digs. It also launched in 2020 The OJO Select Network, which matches agents with home buyers and sellers based on customer needs.

Leave a comment

Most Popular Articles

The housing market is losing steam

Mortgage applications for new home purchases decreased 3% from May and 23.8% year over year, suggesting buyer fatigue in the housing market.

Jul 20, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please