Mattamy Homes Offers Mortgage Coverage, Boosting Sales

0:00It's March 25. From your city to your ears, this is Vancouver News today, powered by AI. I'm Corey with the story. Canadian homebuilders are rolling out bold incentives to draw buyers back into a sluggish market. Matamie Homes in Alberta is offering to cover one full year of mortgage payments. Betting it will help 200 to 300 people jump in. Despite lower interest rates not fully doing the trick. This move focuses on easing monthly cash flow rather than big price cuts, which only shave off small amounts long-term. It lines up nicely with the federal first time buyer rebate worth up to $50,000 on new homes valued at $1 million or less. Developers like Matamie admit the offer stem from softening prices and fierce competition to grab sales. Brokers report more perks popping up from free upgrades to extra parking spots as buyers shop around for the best deals. Other builders, such as Foxwood Homes in Ontario, cover up to $12,500 in property taxes and utilities for a year.

1:05Extending it due to strong interest. These tactics are making phones ring and boosting side visits. Economists expect even more creative strategies ahead, since new construction has price limits that resale homes don't, pushing builders to innovate, and keep quality perceptions high.