Real estate platform OJO Labs, based in Austin, Texas, recently announced it is expanding its services to Canada.
Through OJO Labs, Canadian homebuyers can utilize the OJO concierge team to be connected with local real estate agents and the Royal Bank of Canada mortgage service, according to Housing Wire.
"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," Natalka Falcomer, OJO Home Canada president, said according to Housing Wire. “This is crucial in Canada’s nuanced marketplace, which is moving at lightning speed.”
The Canadian housing market has been strained over the last year as the demand for bigger living spaces has increased to record numbers.
The price of the average home in Canada in June was $679,000, up 25% from June of 2020, Housing Wire reported. While prices remain high, the rise in the number of home sales in Canada shows signs of slowing down due to the high prices and low inventory. Just over 50,000 Canadian homes changed hands during June.
The Canadian Real Estate Association (CREA) reports that housing markets in British Columbia and Ontario have surged by over 30% this year, Vancouver rose 14% and Toronto 20%, with properties in suburbs showing the largest gains, according to Housing Wire.
John Berkowitz, OJO Labs CEO, said the company will now offer coverage in over a dozen Canadian markets throughout the country.
According to the company's website, OJO's real estate platform "fuses machine intelligence and human expertise" to guide homebuyers and sellers on their real estate journey.