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Royal LePage: National home prices rise sharply in second quarter as housing supply struggles to keep up with surge in demand

Vlad Poptamas




According to the Royal LePage House Price Survey and Market Survey Forecast released today, the aggregate1 price of a home in Canada increased 6.8 per cent year-over-year to $673,072, in the second quarter. Once provinces allowed regular real estate activity to resume, demand surged in many markets. Inventory levels, already constrained pre-pandemic, have failed to keep pace.

“Home prices shot up in the second quarter as a crush of buyers entered the market, attracted by extremely low interest rates and the perception of bargains to-be-had,” said Phil Soper, president and CEO of Royal LePage. “Across Ontario and Quebec in particular, the demand for housing outpaced the growth in supply, especially in the early weeks post-lockdown. The surge in the number of first-time buyers was felt acutely, as these housing consumers soaked up supply without contributing to it.”

Soper continued, “We are now seeing sellers return to the market in key supply-constrained regions in numbers sufficient to meet demand. Home buyers should enjoy more reasonable conditions with stable prices and improved selection in the second half of the year.”

The Royal LePage National House Price Composite is compiled from proprietary property data in 64 of the nation’s largest real estate markets. When broken out by housing type, the median price of a standard two-storey home rose 8.0 per cent year-over-year to $794,392, while the median price of a bungalow increased 3.9 per cent to $550,289. The median price of a condominium increased 5.3 per cent year-over-year to $503,983. Price data, which includes both resale and new build, is provided by Royal LePage’s sister company RPS Real Property Solutions, a leading Canadian valuation company.

“COVID-19 shaped the real estate market during the second quarter in every possible way,” said Soper. “As consumers and Realtors®2 complied with April’s shelter-at-home directives and only urgent housing needs were serviced, sales volumes plummeted to one-third of normal in our largest cities. As the reality of extended and potentially permanent work-from-home employment sunk in, people pondered both the location and size of their homes. Simply put, larger homes in smaller communities have become more fashionable. As competition for these properties heats up, bidding wars are more common in what were our quieter cities and towns.”

Across Canada, the 11 regions to post the highest year-over-year gains in median home price were in Ontario. In order, Mississauga (13.5%), Windsor (12.2%), Markham (11.9%), Ottawa (11.7%), Niagara/St.Catharines (11.3%), London (10.5%), Brampton (10.4%), Toronto (10.2%)/Greater Toronto Area (10.0%), Guelph (9.9%), Kitchener/Waterloo/Cambridge (9.8%), and Milton (9.7%).


Immigration has been disrupted by pandemic travel restrictions, with the impact to real estate markets varying across regions and housing segments. Royal LePage’s 2019 Newcomer study showed that upon arriving in Canada, only 15 per cent of newcomers purchase their first home. The average time period after which newcomers will purchase a property is three years after arriving in Canada.3

“Our research shows that many of the newcomers to our nation who intended to buy a home this year have already been living in Canada for three or more years,” said Soper. “A short-term drop in the number of new immigrants and international students will not directly impact home sales in the current year, as most newcomers will rent their first home. We may feel the impact of fewer new Canadians in our residential investment market with less demand for rental units. Mitigating the impact of this trend is a surge in first-time buyer interest. Some landlords may choose to sell to eager millennial families if rental demand softens.”

Lengthy Economic Recovery and Revised Royal LePage Forecast

As home sellers return to the market, inventory levels are expected to rise, relieving the acute upward pressure on home prices that characterized the supply-constrained second quarter of 2020. Uncertainty clouds Canada’s real estate outlook as a lengthy recovery for the Canadian and world economies is expected. The negative impact on home prices should be muted by the balanced nature of Canadian housing, as chronic housing supply shortages offset dampened medium-term demand.

Royal LePage has revised its forecast slightly upward, with the national aggregate price expected to end 2020 up 2.3 per cent to $663,000 in the fourth quarter compared the same period in 2019.


Greater Toronto Area

Pent-up demand coupled with a lack of supply in the Greater Toronto Area (GTA) resulted in significant price appreciation in the second quarter. The aggregate price of a home in the GTA increased 10.0 per cent year-over-year to $899,001 in the second quarter of 2020. When broken down by housing type, the median price of a standard two-storey home increased 10.7 per cent year-over-year to $1,050,323 and the price of a bungalow rose 6.4 per cent year-over-year to $852,260. During the same period, condominiums in the region continued to see strong price appreciation, with the median price rising 9.3 per cent year-over-year to $599,235.

“Prior to the market disruption caused by the pandemic, the GTA was on track for double-digit price growth in 2020. While the first half of the second quarter saw market activity severely curtained, as soon as the market woke up in late May, sales quickly accelerated,” said Kevin Somers, chief operating officer, Royal LePage Real Estate Services Limited. “However, with listings not keeping pace and buyer competition high, we are again seeing double-digit price appreciation in the region.”

Royal LePage is forecasting that the aggregate price of a home in the Greater Toronto Area will increase 4.0 per cent to $882,000 in the fourth quarter of 2020 compared to the same quarter last year.

“While buyer demand outstripping inventory has been typical of the Toronto market, the return of buyers before sellers in the second half of the quarter amplified price growth,” said Somers. “Sellers are now returning and while buyers should not expect bargains, they may find the second half of the year more reasonable for inventory and price appreciation.”

Greater Montreal Area

The Greater Montreal Area aggregate home price rose 7.7 per cent year-over-year to $449,996, in the second quarter of 2020.

With the resumption of real estate brokerage activities on May 11, after being shut down for more than a month, all property categories in the region saw significant price appreciation. The jump in appreciation was largely due to substantial pent-up demand from buyers who had to put their activity on hold during the shutdown.

Looking at prices by property type, the median price of a standard two-storey home in the Greater Montreal Area saw a strong increase of 8.7 per cent this quarter, compared to the second quarter of 2019, reaching $566,874. The median price of a bungalow rose 7.2 per cent year-over-year to $351,015, during the same period. Despite an increase of new listings in June, the median price of a condominium increased by 5.6 per cent year-over-year to $351,889.

“While we were experiencing unprecedented demand for real estate prior to the pandemic, the suspension of transactions during the lockdown has widened the gap between supply and demand,” said Dominic St-Pierre, vice president and general manager, Royal LePage for the Quebec region. “In my 18-year career, I have never seen such a tight ratio between the number of active listings and sales, reaching a new high in this seller’s market, despite the fact that the Montreal region has been hit the hardest by the pandemic and shutdown in Canada.”

As a result, Royal LePage is forecasting the aggregate price of a home in the Greater Montreal Area will increase 3.5 per cent to $452,000 in the fourth quarter of 2020 compared to the same quarter last year.

Greater Vancouver

The aggregate price of a home in Greater Vancouver increased 1.9 per cent year-over-year to $1,109,069 in the second quarter of 2020. Broken out by housing type, the median price of a standard two-storey home in Greater Vancouver increased 3.7 per cent year-over-year to $1,455,027 in the second quarter. During the same period, the median price of a condominium in the region remained relatively flat, decreasing 0.4 per cent year-over-year to $638,242, while the median price of a bungalow decreased 1.1 per cent to $1,189,692.

“The Greater Vancouver real estate market is continuing its recovery that began in 2019. While the pandemic caused a significant disruption in early spring sales, continued low inventory has maintained prices,” said Randy Ryalls, general manager, Royal LePage Sterling Realty.

Real estate in the city of Vancouver posted healthy year-over-year gains in the second quarter. The median price of a two-story home rose 7.6 per cent to $2,088,932 compared to the same period in the previous year. During the second quarter, the median price of a bungalow rose 2.6 per cent year-over-year to $1,434,738, while the median price of a condominium decreased 2.0 per cent to $738,128.

“Stronger price appreciation for two-storey homes compared to condominiums reflects buyers’ preference for larger properties and less shared areas, a trend that has evolved as a result of the pandemic,” said Ryalls. “This has opened up excellent opportunities for those seeking city-centre condos.”

Royal LePage is forecasting that the aggregate price of a home in Greater Vancouver will increase modestly by 0.5 per cent to $1,087,000 in the fourth quarter of 2020 compared to the same quarter last year.

Artificial Intelligence

Ureteroscope Market to Touch $1,498.1 Million by 2027; Increasing Demand for Efficient Kidney Stone Removal Devices Worldwide to Aid Market Growth: Fortune Business Insights™




Pune, Aug. 14, 2020 (GLOBE NEWSWIRE) — The global ureteroscope market size is projected to reach USD 1,498.1 million by 2027, exhibiting a CAGR of 5.5% during the forecast period. Increasing incidence of kidney stones is expected to stoke adoption of these devices, states Fortune Business Insights™ in its report, titled “Ureteroscope Market Size, Share & COVID-19 Impact Analysis, By Product (Flexible, Semi-flexible, and Rigid), By Application (Urolithiasis, Urolithial Carcinoma, and Others), End User (Hospitals, Specialty Clinics, and Others), and Regional Forecast, 2020-2027”.

A study published by the US National Institutes of Health (NIH) in 2018 revealed that kidney stone disease prevalence and its recurrence is rising. According to the study, 12% of the global population suffers from urolithiasis, which is the process of formation of stones, at some point during their lifetime. Affecting all races, sexes, and age groups, the disease is evidenced to be more prevalent in men than women. Ureteroscope aid in treating stone diseases as they help in pinpointing the location of the stone formation and help remove them efficiently. Thus, the growing prevalence of urolithiasis (or nephrolithiasis) is anticipated to boost the adoption of these devices in the coming years.

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As per the report findings, the global ureterscopy market value stood at USD 981.8 million in 2019. Aside from this, the report provides the following:

  • Panoramic overview of the general industry trends and outlook;
  • Detailed analysis of the factors shaping the market size, share, and overall growth;
  • Thorough evaluation of the market segments; and
  • In-depth research into the regional developments and competitive dynamics of the market.

Market Driver

Close Linkage between Diabetes and Kidney Stones to Support Market Growth

Kidney stones, or renal calculi, are crystal mass formations that can originate anywhere along the urinary tract. These stones are of various types such as calcium, uric acid, struvite, and cysteine. Research has found that diabetes is one of the most common risk factors for developing kidney stone because the high blood sugar levels in diabetics make their blood more acidic, creating the ideal environment for stones to form. According to the medical journal European Urology, people with type 2 diabetes having high insulin resistance are 92% more likely to form kidney stones than non-diabetic people. With diabetes expected to become more widespread in the coming decades, the demand for stone removal procedures is likely to rise and boost the ureteroscopes market growth in the process.

The global economy is in absolute turmoil because of the COVID-19 pandemic outbreak. Some industries remain largely unaffected by the outbreak, some are thriving, but most are in doldrums. Although the healthcare industry is flourishing, certain markets within the industry are experiencing staggered growth. Wading through these troubled times is a difficult task and Fortune Business Insights™ aims at equipping your business with the most comprehensive market insights, collated and analyzed by our expert and experienced research team.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Regional Insights

Robust Healthcare Infrastructure to be the Key Driving Factor for North America

The US and Canada boast of a strong and developed healthcare infrastructure, with health facilities actively adopting modern medical devices and technologies. This is additionally bolstered by favorable reimbursement policies and growing demand for advanced medical procedures. Together, these factors enabled the market size in the region to reach USD 370.1 million and have a share of 37.7% in 2019. Based on these numbers, it is expected that the region will further strengthen its hold on the ureteroscope market share during the forecast period.

In Asia Pacific, the market is anticipated to expand at a considerable rate owing to increasing presence of global companies in developing countries such as India and China. Improving healthcare expenditure is also aiding the regional market growth.

Competitive Landscape

Key Players to Concentrate on Widening Distribution Networks

One of the key focus areas for players in the ureteroscope market is the development and expansion of their global distribution networks. In pursuit of this goal, most companies in this market are collaborating or acquiring regional players to establish their foothold in foreign markets.

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Industry Developments:

  • November 2019: Olympus Corporation inked a deal with the Monaco-based medical products company, Rocamed, to distribute the RocaFlow Double Chamber Pump System and Tubing Sets in Europe. The set includes ureteroscopes for kidney stones and trans-urethral resection of the prostate.
  • April 2019: Dornier MedTech commercially released its innovative AXIS™ Single-Use Digital Flexible Ureteroscopes and other stone management products in the US. AXIS has been specifically designed to prevent cross-contamination between patients by ensuring a clean, sterile ureteroscope for every patient.

List of the Leading Companies Operating in the Ureteroscope Market are:

  • AED.MD (CA, USA)
  • PENTAX Medical (Tokyo, Japan)
  • Richard Wolf GmbH. (Illinois, United States)
  • Stryker (Michigan, United States)
  • Elmed Electronics & Medical Industry & Trade Inc. (Ankara, Turkey)
  • KARL STORZ (Tuttlingen, Germany)
  • Olympus Corporation (Tokyo, Japan)

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Prevalence of Urolithiasis, By Country/Region
    • Technological Advancements in Ureteroscope
    • Recent Industry Developments (Mergers, Partnerships, and Acquisitions)
    • Impact of COVID-19 on Ureteroscope Market
  • Global Ureteroscope Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Product
      • Flexible
      • Semi-flexible
      • Rigid
    • Market Analysis, Insights and Forecast – By Application
      • Urolithiasis
      • Urolithial Cancer
      • Others
    • Market Analysis, Insights and Forecast – By End User
      • Hospitals
      • Specialty Clinics
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa

TOC Continued….!

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Artificial Intelligence

MobiusTrend: Hologram AR + Visual Technologies in e-Commerce




HONG KONG, Aug. 14, 2020 (GLOBE NEWSWIRE) — MobiusTrend, a market research organization in Hong Kong, recently released a research report on ‘Hologram AR + Visual Technologies in e-Commerce‘. It has been 20 years since the advent of Internet search engines. During this time, search methods and patterns have changed dramatically. Meanwhile, visual search has been on the rise in recent years, and it has overlapped with the image research on the technology, but they are not the same. Concerning the inputting, visual research usually refers to the pattern of using a smartphone or other types of cameras to identify information about all objects in the physical world. Then, the search engine uses image recognition technology to identify the valid information it represents and present it to the audience in an intelligently displayed manner in a specific visual display application.

Google Goggles can be treated as the earliest visual search app when it was launched in 2009 by Google. Moreover, it was first developed for Android smartphones and later for iOS in 2010. The Goggles aims to search for information that identifies objects in the real world and allows it to search for products using the bar code of an object.

Visual search has great commercial potential because its model is searching for what users want to buy in the most direct way, as well as to retrieve relevant product information. But the existing text search and voice search can only find a range of current objects, which are difficult to achieve precise retrieval.

AR also opens up a whole new world of visual search. Ikea has developed apps that use AR technology to show the size and placement of furniture. Users can freely decorate their own coffee table, wallpaper, and lighting fixtures. At the same time, visual search can also have more applications to the aspects of spatial detection, intelligent decoration, and spatial beautification. Through the more precise visual search and recognition technology, users can screen out a lot of effective information. Moreover, AI can also take this opportunity to collect user data and launch personalized, customized services.

Facial recognition technology is a kind of biometric identification technology, which is based on facial feature information. It uses camera equipment to collect facial images or videos and extracts facial image features for searching and matching with feature templates stored in the database. When the similarity exceeds the set threshold, successful matching results will be output; otherwise, unsuccessful matching results will be output. Face recognition is based on digital image processing, which has always been a frontier research direction. The later stage of digital image processing technology will develop into artificial intelligence (AI).

WIMI’s holographic system is an exclusive research and development breakthrough. WIMI’s leading WIMI AI face technology application has gained lots of praise in this industry. Phones, equipped with WIMI’s facial recognition technology, can use face swiping to unlock. Sound system, equipped with speech recognition and speech recognition technology, can achieve voice interaction.

WIMI’s holographic cloud is a content delivery manner of augmented reality. Meanwhile, it allows you to see and interact with three-dimensional images that combine the non-existing objects with the real world. The images are projected from a mobile phone or computer onto other media via projection devices. Besides, the most commercially valuable aspect of WIMI is holographic technology.

WIMI AI-MBT platform is a high-performance holographic cloud management platform, which is mainly used to provide AR+3D applications for customers. WIMI opens its API interface to premium customers. Through API interface, media platforms can develop customized system functions, including automatic management of advertising resources, advertising resource analysis and internal system integration, customized special functions, a single platform to manage multiple accounts and a series of other functions. Media platforms can display their advertising space resources in an all-round way in front of advertisers.

There are some differences between AR search and visual search. Visual search refers to a search that uses the real world as input information of any objects. But the feedback of search results is limited to the device being used while guiding the users to visit web pages or applications. AR search is to enhance users’ cognition of the world around them, by superimposing information or visual effects on the surrounding environment and searching visual input and information output.

With the arrival of 5G commercial use and artificial intelligence, the Internet of everything is just around the corner. The accelerated development of visual networking will be conducive to the maturity and upgrading of the AR glasses industry. With the constant upgrade of intelligent hardware, the vigorous development of application ecology, and the continuous improvement of public awareness, the AR smart glasses industry will be greeted with rapid growth in a day.

About MobiusTrend

MobiusTrend Group is a leading market research organization in Hong Kong. They have built one of the premier proprietary research platforms on the financial market, emphasizing on emerging growth companies and paradigm-shifting businesses. MobiusTrend team is professional in market research reports, industry insights, and financing trends analysis. For more information, please visit

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Artificial Intelligence

Predictive Oncology Announces DojoLIVE! Interview with Helomics CIO Mark Collins, ‘Can We Cure Cancer with Artificial Intelligence?’




LOS ANGELES, Aug. 14, 2020 (GLOBE NEWSWIRE) — via NetworkWire — Predictive Oncology Inc. (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, today announces that Mark Collins, Ph.D., chief innovation officer of its Helomics subsidiary, recently appeared on DojoLIVE!, a lively podcast and interview forum that brings together a broad roster of technology, business and thought leaders from a wide range of software companies and startups.

The broadcast, titled ‘Can We Cure Cancer With Artificial Intelligence?’, is available for on-demand viewing on the DojoLIVE! website.

As noted during the interview, Collins possesses a passion for applying science to build high-tech life-science products and services that impact the search for new medicines. He feels that Helomics, a division of Predictive Oncology, is uniquely positioned to deliver on this goal.

Helomics aims to improve outcomes for the cancer patients of today and in the future by harnessing the power of the patient’s own living tumor. The company uses its unique clinically validated Tumor Drug Response Profiling (TDRP) platform to generate a comprehensive profile of the patient tumor to guide the oncologist in individualizing treatment. In use for 15+ years, this platform has generated drug response and genomic profiles on over 150,000 tumors – the largest knowledgebase of its kind in the world.

Helomics is leveraging this unique TDRP platform and huge knowledge base to pioneer the development of AI-driven models of tumor drug response and outcome that, in partnership with pharmaceutical companies, will enable lower cost, faster and smarter discovery of new therapies. Furthermore, once validated, these AI-models will be used as clinical decision support tools to help clinicians individualize cancer treatment with current therapies.

About Predictive Oncology Inc.

Predictive Oncology (NASDAQ: POAI) operates through three segments (Domestic, International and other), which contain four subsidiaries; Helomics, TumorGenesis, Skyline Medical and Skyline Europe. Helomics applies artificial intelligence to its rich data gathered from patient tumors to both personalize cancer therapies for patients and drive the development of new targeted therapies in collaborations with pharmaceutical companies. Helomics’ CLIA-certified lab provides clinical testing that assists oncologists in individualizing patient treatment decisions, by providing an evidence-based roadmap for therapy. In addition to its proprietary precision oncology platform, Helomics offers boutique CRO services that leverage its TruTumor™, patient-derived tumor models coupled to a wide range of multi-omics assays (genomics, proteomics and biochemical), and an AI-powered proprietary bioinformatics platform to provide a tailored solution to its clients’ specific needs.

Predictive Oncology’s TumorGenesis subsidiary is developing a new rapid approach to growing tumors in the laboratory, which essentially “fools” cancer cells into thinking they are still growing inside a patient. Its proprietary Oncology Discovery Technology Platform kits will assist researchers and clinicians to identify which cancer cells bind to specific biomarkers. Once the biomarkers are identified they can be used in TumorGenesis’ Oncology Capture Technology Platforms, which isolate and help categorize an individual patient’s heterogeneous tumor samples to enable the development of patient specific treatment options. Helomics and TumorGenesis are focused on ovarian cancer. Predictive Oncology’s Skyline Medical division markets its patented and FDA cleared STREAMWAY System, which automates the collection, measurement and disposal of waste fluid, including blood, irrigation fluid and others, within a medical facility, through both domestic and international divisions. The company has achieved sales on five of the seven continents through both direct sales and distributor partners. For more information, please visit

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.

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