Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last yea ...

        As temperatures drop to some of the lowest values Toronto has seen in years, data released Friday suggests that the city's housing market is cooling at an equally frantic pace.   Both home sales and prices were down by staggering year-over-year percentages in January of 2023, according to the Toronto Regional Real Estate Board  ...

        As we moved from 2022 into 2023, the Greater TorontoArea (GTA) housing market unfolded as expected. The number of January sales and the overallaverage selling price were similar to December 2022. On a year-over-year basis, both sales and priceswere down markedly, continuing to highlight the impact of higher borrowing costs on affordability overthe last year. &nbs ...

        A new analysis by realtor firm Re/Max says the Toronto real estate market may be better positioned than previously thought to weather the financial downturn expected this year, though there still may be some choppy waters ahead.   The new report compared average price and new mortgage values in different markets across the country between the third quarter ...

        Doom and gloom headlines have been the big story in the Toronto real estate world through 2022 and into the new year, but for all the negative forecasts about spiking interest rates and furrowed brows of experts, there is new evidence that things aren't actually all that terrible in the housing market.   The RE/MAX Canada 2023 Canad ...

        There are plenty of good reasons you might be ready to move. No matter your motivations, before you list your current house, you need to consider where you’ll go next.   In today’s market, it makes sense to explore all your options. That includes both homes that have been lived in before as well as newly built ones. To help you decide ...

        Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to mov ...

        Very few provinces will be exempt from the “growth-dampening effects” of high interest rates, lofty inflation, and global economic uncertainty, says a new study from Desjardins.   The study, authored by principal economists Marc Desormeaux and Hélène Bégin, examines a range of factors working for and against the ec ...

        The Greater Toronto Area (GTA) housing market experienced a tough year in 2022, as the number of new home sales declined to its lowest level since 2018 on the back of successive interest rate hikes from the Bank of Canada.   The Building Industry and Land Development Association (BILD) revealed on Tuesday morning that just 25,400 new homes were so ...

        With rising inflation, competitive bidding wars, and sky-high prices, navigating Toronto's housing market as a first time buyer can be a headache.    While it's always a good idea to consult real estate agents and financial advisors before making the big move, I decided to ask an unconventional source for real estate advic ...

        Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations accordingly. As realtor.com explains:   “. . . some of the more prominent pandemic trends have changed ...

        The rate at which properties are trading hands has slowed in Ontario due to buyer apprehension in the market. Lack of inventory and the need for more affordable have contributed to the market slowness.   In December, many homes in Ontario stayed on the market for longer than usual. In the Toronto Region, homes are currently listed for an average o ...

        Canada's topsy-turvy housing market may finally be cooling off from the shock of successive interest rate hikes, kind of like how you stop a hard-boiled egg from cooking by dunking it in cold water.   Ontario has proven a hotspot in runaway housing prices through the madness of the last decade or so, and that same sustained price acceleration has given ...

        From our famous bagged milk and maple syrup to the roof over our heads, life in Toronto feels more expensive than ever. As many homeowners struggle with mortgage payments amid successive interest rate hikes, the rest of the population is toughing it out through a frenzied rental market that only grew more expensive last month.   ...

        There have been two incidents this month of homeowners coming back from a trip to find their house has been sold or listed on the market without their consent.   Earlier this month, Toronto police warned the public of two people who impersonated the owners of an Etobicoke-area home, allegedly hired a real estate agent, and listed the house for sale.   ...

      One of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:   “In a preapproval [sic], the lender tells you which types of loans you may be eligible to take ou ...

        Last year, the Canadian Government took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their p ...

        Even as 2022 drew to a close, few experts had high hopes for the Greater Toronto Area (GTA) real estate market going into the new year.   A  November report from RE/MAX Canada forecasted prices in the region to plummet by an astronomical $140,000 in 2023, and the following month, Royal LePage projected the aggregate price of a GTA home will decrea ...

      Some Highlights Buying a home is a major transaction that can seem even more complex when you don’t understand the terms used throughout the process. If you’re looking to become a homeowner this year, it’s important to know these housing terms and how they relate to the current market so you feel confident throughout the home ...

    Buying property in Toronto seems a bit to me like playing a slow, measured version of the lottery, but with better odds of success and a far greater barrier to entry.   Scratch tickets may not turn many people into millionaires, but anyone who purchased a home in Canada's biggest city ten years ago could realistically have tacked an&nb ...