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October 2020 Newsletter

Kristy Towson

Compass Mortgage Group

Mortgage Broker




August 2020 another record-setting month for many Canadian housing markets

Home sales recorded over Canadian MLS® Systems increased a further 6.2% in August 2020, raising them to another new all-time monthly record.

Unlike the previous two months in which activity was up right across the country, sales in August were up in about 60% of local markets. Gains were led by the Greater Toronto Area (GTA) and British Columbia’s Lower Mainland. With ongoing supply shortages in so many parts of Canada, it is interesting to note that the GTA and Lower Mainland also saw a considerable amount of new supply become available in August.

Actual (not seasonally adjusted) sales activity posted a 33.5% y-o-y gain in August. It was a new record for the month of August, and the sixth-highest monthly sales figure of any month on record. Transactions were up compared to last August in almost all Canadian housing markets.

So far this year, some 341,463 homes have traded hands over Canadian MLS® Systems, up 0.8% from the first eight months of 2019.

Safety reminders for your home office

(NC) As many of us continue to work remotely, having a functioning home office is essential. From lighting to storage to décor, there are several factors to consider, so it’s easy to overlook safety. Here are some key steps to help ensure your new workspace is safe as well as productive.

Safeguard your computer. With hackers exploiting the increase in remote working, it is critical to keep operating and anti-virus packages up to date. Perform frequent updates to help prevent malicious software from invading your computer and network. Change your passwords regularly and back up your files.

Avoid overloading outlets. Each year, electrical malfunctions account for 35,000 home fires, according to the Electrical Safety Foundation International. Make sure your outlets contain arc fault circuit interrupters (AFCIs), which can prevent fires caused by damaged or overheated wiring or electrical devices. In case of an emergency, keep the easy-to-use First Alert EZ Fire Spray in your home office to quickly defuse small electrical fires. The light aerosol can design makes it easy to hold, use and store.

Set up a clutter-free space. Keep your work area organized to prevent potential hazards. Avoid injuries by keeping scissors, staplers and all sharp or heavy office tools away from edges of the desk, especially if you have children or pets. Secure all phone lines and electrical cords along a wall or under a desk to keep them away from heat sources and high-traffic areas.

Install and maintain alarms. Beyond the office, installing smoke and carbon monoxide (CO) alarms will help protect your entire home. For optimal protection, install working smoke and CO alarms on each level of the home, inside every bedroom and outside each sleeping area. To properly maintain your alarms, test them regularly, change the batteries every six months and replace the units every 10 years.

Find more home fire safety tips at firstalert.ca.


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