"Sales are up, market conditions have tightened quite a bit, and there has been anecdotal evidence of renewed competition among buyers," said Shaun Cathcart, CREA's Senior Economist.   Whispers of the housing market finally picking up steam this year have now turned up to full volume, with the latest data from the Canadian Real Estate Association (CREA) r ...

        After increasing the overnight lending rate ten times between March 2022 and July 2023, many are expecting the Bank of Canada to start implementing rate cuts later this year. The overnight lending rate is currently at 5%, the highest in more than a decade, and has caused many fixed mortgage rates to similarly reach record highs. This slowed real estate activity in ...

    This year kicked off with a hold of the overnight lending rate, and as a result, fixed rates have begun to come down. In October, the 5-year fixed mortgage rate peaked at 5.49%, but by January 2024 the rate dropped as low as 4.89%. High interest rates don’t just impact homeowners, they also affect the rental market. As interest rates have climbed over the past two y ...

    The palette of Paint Colors of the Year for 2024 reflect hot homeowner trends, including a focus on health and wellness at home and a renewed enthusiasm for bold style statements.    Whether you are drawn to one of the many shades of blue, rich and moody hues or warm neutrals, there are numerous options to refresh and revive your home décor.    Here a ...

        Toronto's real estate market is trying to recuperate from an unprecedented year of paltry sales numbers and, for some property types, falling prices that still haven't had any impact on affordability given current lending rates.   While the fact that our properties have remained incomprehensibly overvalued for so ...

        Affordability concerns in Q4 2023 pushed condo sales to their lowest quarterly level since the Toronto Regional Real Estate Board began publishing condo market data in 2011.   High borrowing costs and persistent affordability concerns weighed heavily on the Greater Toronto Area (GTA) condo market at the end of 2023, pushing quarterly sales to their lowest l ...

      Selling your home can be a daunting task, especially when you consider the ever-evolving trends in the real estate market. In 2024, as technology continues to play a pivotal role in the industry, home sellers need to stay informed about the latest trends. By avoiding these potential issues, you’ll be more prepared to handle the intricacies of the market and successf ...

        The Bank of Canada announced today it is holding the overnight lending rate at 5%, a move that many experts predicted. But with inflation rising in December to 3.4% – up from October and November’s 3.1% – homebuyers may not see interest rate relief as soon as anticipated. The BoC cautioned that economic growth is not expected to pick up until the ...

        Last year was a wild one for real estate in Toronto and across Canada, with steep declines in activity that somehow failed to push prices all that much lower from the highs our housing market is known for.   In fact, with high interest rates, homes got far less affordable across the country over the course of 2023, even in areas where th ...

        Unlike 2021 and 2022, when real estate activity was turbulent and competitive, the 2023 real estate market was less volatile and intense. The 2023 market showed a stronger adherence to traditional seasonal trends, meaning there was a hot spring and summer market followed by a quiet fall and winter. High borrowing costs kept many would-be buyers and sellers out of ...

        Though the presumed timing of rate cuts should help to boost home sales, TD’s Rishi Sondhi tells STOREYS that prices may not follow suit and are expected to slip though the first quarter and flatten in the second.   Canadians could see a lower interest rate as soon as spring according to some experts, though the Bank of Canada’s (BoC) Tiff Mac ...

        After a dismal year of sales, realtors at at least one major brokerage are still maintaining faith that Toronto's housing market (and its prices) will pick back up and return to its more lucrative former glory in 2024.   While some real estate experts have predicted further uncertainty, price declines and even a potential ...

      Exuberant Canadians are hooked on real estate, and consequently are following the central bank unusually close. A new report from BMO shows households have shifted price growth expectations with Bank of Canada (BoC) announcements. As the rate tightening cycle comes to an end, the bank sees the potential for the next round of central bank statements to ...

      The national benchmark price hit its peak in 2023 in June, reaching $760,600, before embarking on a downward trend for the next five months according to the Canadian Real Estate Association (CREA). Most major markets have been following suit, with Toronto, Vancouver, Ottawa, and Winnipeg all seeing prices drop off since summer. This is partly due to seasonality, ...

        The biggest hits were taken in the 905 region, where price declines for each type of housing were greater than those in Toronto.   It's been a tough year for the Greater Toronto Area housing market, with both sale volumes and sale prices taking a tumble. Amidst higher interest rates and increasing unaffordability, many would-be buyers moved to the sidelines ...

    Inventory levels were at historic lows in the Greater Toronto Area (GTA) at the end of 2022. Prospective homebuyers and homeowners were grappling with the higher-for-longer interest rate environment, leading to a slowdown in sales and new listings. These inventory issues persisted throughout much of 2023, with headlines frequently dominated by initiatives to boost the national hous ...

        First impressions are everything, especially when it comes to selling your home. Make your interiors and exterior spaces as appealing as possible because potential buyers want to envision themselves living in your home. If you’re considering putting your home up for sale, now is the ideal moment to develop a checklist to ensure you stay on the right pat ...

        Toronto’s real estate market is expected to rebound in 2024 after the higher cost of borrowing weighed on sales over much of the past year, according to a market survey forecast by Royal LePage.   The Canadian real estate franchiser is estimating that aggregate home prices will rise six per cent over the course of 2024 to an average of almos ...

        A recent survey from the Ontario Real Estate Association (OREA) indicates increasing concern about housing affordability and the cost of living. Things are getting worse and Ontarians want to see bolder action from government.   Housing affordability of top concern   A recent survey from the Ontario Real Estate Association (OREA) ...

        "Slower sales today will lead to slower housing starts in the immediate future, which will hamper new supply coming to market,” BILD's Justin Sherwood warned.   New home sales across the Greater Toronto Area (GTA) have improved over the lows seen throughout the latter half of 2022, but remained muted in November as whispers of springtime interest ...