In early 2022, home prices were at record highs across Ontario and those looking to sell were met with perfect conditions. But once the Bank of Canada began raising interest rates, buyers slowly gained the upper hand as prices, sales, and listings declined. To determine where competition remains fierce as the year draws to a close, ...
It's been a tumultuous year for Toronto's housing market, with prices, sales, and new listings dropping dramatically with each passing month. For one faction of the market, the worst may be yet to come. In Move Smartly's latest Toronto Area Real Estate Market Report, John Pasalis, President of Realosophy Realty, highlights the "red ...
There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident decision. 1. Should I Wait To Sell? &nbs ...
Several real estate industry observers say the housing market isn't roaring back, despite October delivering the first month-over-month uptick in home sales since February. Their outlook on the market comes as the Canadian Real Estate Association revealed Tuesday that sales totalled 35,380 in October, a 1.3 per cent increase from ...
If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. If you’re willing to work with a trusted agent to consider a newly built home, you may have even more options and incentives than you realize. That may be why the National Association of H ...
Activity in Toronto’s housing market appears to be levelling off following a sharp decline over the spring that saw home prices drop significantly. But a new national report from RBC suggests that property values in the city and across Canada are still falling, albeit at a slower pace. “Nationwide, our view is that that benc ...
It’s shaping up to be a quiet fall for Canadian real estate. Sales are down, prices have plummeted, and with another interest rate hike looming, sleepy conditions are expected to persist in the months to come. This is according to a new report from RBC Economics, authored by Assistant Chief Economist Robert Hogue, which forecasts pric ...
Rising interest rates are letting the air out of the Greater Toronto Area's bloated housing market, but while housing prices stabilized in October, sellers appear to be in a holding pattern, and it's showing in the numbers as new listings took a historic tumble in October. The Toronto Regional Real Estate Board (TRREB) reports a levelling o ...
Despite the continued housing market transition to a higher borrowing cost environment, the average selling price in the Greater Toronto Area (GTA) found some support near $1.1 million since the late summer. GTA home sales continued to adjust to substantially higher interest rates in October 2022, both on an annual and monthly basis. However, new listings are also ...
The majority of neighbourhoods in the Greater Toronto Area have entered underbidding territory, but homes remain out of reach for many first-time buyers. According to new data from real estate agency Wahi’s Market Pulse Tool, 86 per cent of GTA neighbourhoods were in underbidding territory in October. Despite the lower bids, however, h ...
Room design ideas are a dime a dozen. But you want your place to look like those expensive home design website images you drool over, don’t you? Of course you do! Problem is, your budget may not match your design aspirations. Fear not! Making your home look high-end isn’t always about spending tons of cash. It’s a matter of taking t ...
While higher mortgage rates are creating affordability challenges for homebuyers this year, there is some good news for those people still looking to buy a home. As the market has cooled this year, some of the intensity buyers faced during the peak frenzy of the pandemic has cooled too. Here are just a few trends that may benefit you w ...
The average rent for a one-bedroom condo in Toronto has risen by more than 20 per cent in a year as many would-be home buyers remain sidelined by higher borrowing costs. According to the Toronto Regional Real Estate Board’s (TRREB) latest Rental Market Report, the average rent for a one-bedroom condo apartment hit $2,481 in Q3 2022. The figure is not only ...
Some Highlights Even with higher mortgage rates, the mortgage process doesn’t need to be something you fear. Here are some steps to help as you set out to buy a home. Know your credit score and work to build strong credit. When you’re ready, lean on the pros and connect with a lender so you can get pre-a ...
The Government of Ontario is raising the foreign homebuyer tax in an effort to remedy the province's housing crisis. Effective October 25, the Non-Resident Speculation Tax will increase from 20 per cent to 25 per cent, making it the highest in Canada. According to the province, concerns have been swirling for ye ...
Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would rebound quickly. As the 2022 CEO Outlook from KPMG says ...
After over a decade of sustained demand and frenzied housing price growth in the Greater Toronto Area (GTA), experts are signalling alarm bells as buyers recoil from the market in the face of historic inflation. The region's housing market cooled noticeably in September, according to the latest Building Industry and Land Deve ...
If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why. What Is Pre-Approval? &nb ...
Whether you’re currently in the process of looking for your first home, or have just started to think about it, I have some first-time homebuyer tips to help make your journey as easy as possible! Get Pre-Approved Having your mortgage pre-approved is an important step in the process and benefits you in three ways: Pre-approval ...
Some Highlights If you’re planning to sell your house this year, you likely have questions about what the shift in the housing market means for your home sale. You might be wondering: Should I wait to sell? Are buyers still out there? And can I afford to buy my next home? Connect with a trusted real estate profession ...
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