If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs. Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about when making t ...
A new housing forecast report projects home prices decreasing for most units in the Greater Toronto Area (GTA) by the end of 2023. Royal LePage released its 2023 Market Survey Forecast on Tuesday, and the real estate company notes that as the Bank of Canada has started to “aggressively” raise interest rates, prices across several Canadian ...
If you’re trying to decide whether or not to sell your house, recent headlines about home prices may be top of mind. And if those stories have you wondering what that means for your home’s value, here’s what you really need to know. What’s Really Happening with Home Prices? It’s possible you’ve seen news s ...
At the start of 2022, homes across the Greater Toronto Area were selling far over asking as competition remained fierce and borrowing costs stayed low. Come March, though, the Bank of Canada began raising interest rates, and downward pressure started to weigh on home prices across the region. Nine months and seven rate hikes later, the over ...
Home prices have been rising steadily across the country in recent decades, hitting a point where it now takes the typical young adult roughly 27 years to save up for the downpayment (and nothing else) on a modest Toronto-area home. As of November 2022, the average price for a detached house within the City of Toronto itself was more than $ ...
Homeownership market activity in November continued to be influenced by the impact of higher borrowing costs on affordability. Sales were down markedly compared to the same period last year, following the trend that unfolded since the commencement of interest rate hikes in the spring. New listings were also down substantially from last year, and at a very low leve ...
Higher borrowing costs continued to weigh on the Great Toronto Area housing market in November, dragging home sales down nearly 50 per cent compared to a year ago. According to the Toronto Regional Real Estate Board (TRREB)'s latest Market Watch report, just 4,544 homes were sold across the GTA last month, a 49.4 per cent decline from November 2 ...
There’s no denying mortgage rates are higher now than they were last year. And if you’re thinking about buying a home, this may be top of mind for you. That’s because those higher rates impact how much it costs to borrow money for your home loan. As you set out to make a purchase this winter, you’ll need to be strategic so you can ...
Some Highlights As you get ready to sell your house, focus on tasks that make it inviting, show it’s cared for, and boost your curb appeal. This list will help you get started, but don’t forget, a real estate professional will provide other helpful tips based on your specific situation. Connect with a trusted real estate professional for advi ...
Even though prices in Ontario have been declining since the beginning of the second half of 2022, many buyers still apply for a mortgage. In order to make your mortgage application appealing to improve your current mortgage, and to possibly make significant savings with the best mortgage rate, a good credit score is essential. What is a credit score? ...
The average price of a house is forecasted to drop by nearly 12 per cent in the Greater Toronto Area (GTA) next year. According to Re/Max Canada’s housing market outlook for 2023, the GTA’s currently balanced market is expected to continue next year. As per the report, house prices rose 11 per cent from $1,086,155 last year to $1 ...
The average home price in Ontario's cottage country is expected to rise by nearly $60,000 in the coming year. According to RE/MAX Canada's Muskoka Housing Market Outlook 2023, the average home price in the region will rise to $795,378.96 next year, an eight per cent increase from the $736,430.00 average experienced between January 1, 2 ...
If you’re a homeowner, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments. Home equity builds over time and can help you achieve certain goals. According to the latest Equity Insights Report from CoreLogic, the average borrowe ...
The average home price in the Greater Toronto Area is expected to fall by over $140,000 in the coming year. According to RE/MAX Canada's Toronto Housing Market Outlook 2023, the average price of a home in the region will drop to $1,061,853.91 next year, an 11.8 per cent decline from the $1,203,916.00 average experienced between January ...
Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. And others who have already listed their homes may think about removing their listings and waiting until the new year to go back on the market. The truth is many buyers want to purchase a home for the holidays, and you ...
Home prices in the Greater Toronto Area reached historic highs in February of 2022, but their shining moment was short-lived as the Bank of Canada began raising interest rates shortly thereafter. Since March, the Bank has hiked interest rates six times, and a further increase is expected in early December. As rates have risen, home prices have f ...
Amid rising interest rates and stalling prices, new home sales dropped to a historic low in Toronto last month. According to a new report from the Building Industry and Land Development Association (BILD), just 406 single-family homes were sold across the GTA in October. The figure, courtesy of data from Altus Group, is down 64 per cent ...
If you’re thinking about selling your house, you’re likely hearing about the cooling housing market and wondering what that means for you. While it’s not the peak intensity we saw during the pandemic, we’re still in a sellers’ market. That means you haven’t missed your window. Realtor.com explains: &ldq ...
Canada's housing market downturn may be starting to slow, but property values are continuing their downward spiral. In a recent report, Robert Hogue, assistant chief economist at RBC, said that while the downturn may be coming to an end, property values are "still clearly coming down." Canada's aggregate MLS Home Price Index (HPI) fell for a ...
You’ve likely heard people lauding the benefits of home ownership. Canadian real estate has historically seen solid long-term gains, which bodes well for existing homeowners and those who plan to buy and keep the place for the long term. There are several other benefits of owning a home, including a roof over your head, a place to plant roots, prid ...
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