Greater Toronto real estate prices are once again moving lower as investors pull back. Toronto Regional Real Estate Board (TRREB) data revealed prices moved lower in September. It marked the third consecutive month for falling home prices, nearly wiping out gains made after a central bank pause. Despite a new pause, home sales are falling and inventory is rising ...

        Toronto's real estate market may be in a months-long slump thanks to prohibitive interest rates, but despite a serious plunge in the number of sales, prices haven't been following suit — and some stakeholders are saying they are due to actually increase by the end of the year.   The experts at Royal LePage have amended their earlier prediction&nb ...

        Canadian home buyers have taken a step back from the real estate market in the last month as interest rates remain high. The cost of borrowing has made buying a home a harder prospect and as a result, many potential buyers are choosing to shelve their home buying plans for the time being. Toronto and the Greater Toronto Area (GTA)  is no exception to this, wi ...

        Home sales in the Greater Toronto Area (GTA) took yet another hit in September, falling 12% from the month prior.   In total, there were just 4,642 home sales reported in the GTA last month, according to a new report from the Toronto Regional Real Estate Board (TRREB). This is not only a noticeable change from the 5,294 sales in August, but is also a 7% dec ...

        The full effect of the Bank of Canada’s July rate hike is evident in August’s drop in national sales activity, however, this slowdown is typical for the end of summer. It’s still unclear how the Bank of Canada’s September announcement to pause rate hikes will impact buyers, but Zoocasa’s Broker of Record & Industry Relat ...

        Deposit and down payment–two words that are commonly used and often interchanged. While they’re both upfront costs in the home buying process, the two terms are entirely different.   A deposit is money you attach to an offer to show a home seller that you’re interested in buying their property. A down payment is a percentage of the home pr ...

    If your listing expired and your house didn’t sell, you’re likely feeling a little frustrated. Not to mention, you’re also probably wondering what went wrong. Here are three questions to think about as you figure out what to do next.   Did You Limit Access to Your House?   One of the biggest mistakes you can make when selling your house&n ...

        Affordability in Toronto has diminished rapidly in the last few years. In spite of some price drops in 2023 in response to interest rate hikes, the home price in the city still sits at over $1,000,000. The average home price across Toronto and the Greater Toronto Area (GTA) combined is $1,082,496.   As the cost in Toronto continues to climb, those ...

        The long-anticipated, but delayed, recession on the Canadian economy has finally arrived, according to a new report by Oxford Economics.   Highly indebted households and overvalued home prices are the driving factors leading to a pullback in consumer spending, which has slowed significantly since early 2023 — even with strong immigration, strong job g ...

        Although talks of recession are certainly loaded with doom and gloom, downcast conditions could tempt the BoC to hold rates at 5% until mid-2024.   The Canadian economy is on the cusp of a mild recession, with downturned conditions expected to bleed into 2024. Accordingly, prices are on track to slip an additional 10% by early next year.   Forecastin ...

        There’s an obvious strain on Canada’s housing supply, much of which is caused by a growing number of residents, a shortage of new homes being built, and a lack of affordable options. In January 2023, months of inventory for the Greater Toronto Area (GTA) sat at exactly 2 months, while in August months of inventory edged up to 2.2 months. This ...

        A new study has revealed the worst place in Canada to buy a home, and it might surprise you.   MetroVancouverHomeSource.com looked at each province's average house price and median annual income to determine its rankings.   While British Columbia's housing market makes headlines over and over again for its unaffordability, it's actually Ontario ...

        Canada's housing supply gap — the number of additional units needed to restore affordability to the market — has narrowed slightly, but changing demographic and economic conditions may still affect the figure for better or worse.   Canada will still need approximately 3.5 million more homes by 2030 in order to restore affordability, but changing ...

      Following three rate hikes this year, the release of the Gross Domestic Product numbers for June and the second quarter of 2023 proved that increases to the overnight lending rate have been successful in slowing the economy. The Bank of Canada announced today that it is finally hitting the pause button on the current 5% overnight lending rate, offering some relief to ...

        Though the real estate market is known to fluctuate, over time home prices generally trend upwards – which is good news for homeowners. In most cases, the longer it’s been since purchasing your home, the more its value tends to increase. The exact amount of equity you’ve built in your home will vary depending on whether you have any loans or outs ...

        Experts predict home prices will decline across much of the country, including Ontario, this fall, as Canada faces sky-high interest rates coupled with a demand for homes far outpacing supply.   RE/MAX Canada has released its 2023 Fall Housing Market Outlook Report, which forecasts that several Ontario real estate markets will experience decl ...

      Toronto's housing market may have already gotten about as affordable as it's ever going to get, economists are now saying, with inflated mortgage interest rates pushing sales activity way down, and with it, prices, at least to some degree.   But, even during this respite from the usual freneticism of the market, it will still run you a ...

        Statistics Canada has dropped its latest report on the country's GDP, and it's showing the interest rate is continuing to have an impact across the country, especially in the housing sector.   The monetary tightening from the Bank of Canada this year has been felt to a large degree in the construction industry at a time when low housing supply continues to ...

        As Canada grapples with a housing shortage, an underlying factor seems to have gone unnoticed: the true count of non-permanent residents (NPRs) residing in the country.    The official numbers, widely quoted and relied upon for policy planning, are underestimating the NPR population by nearly one million individuals. This revelation, brought to light b ...

        This summer has been a time for stabilization in the Canadian real estate market. Home prices levelled out, inventory inched upward, and buyer hesitancy returned to soften sales. Now that summer is almost to an end, what might we see happen in the fall market? Here are the 5 market predictions our real estate experts have their eyes on:   Investors and Buye ...