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Market Update for October 7
A 20-year low in new home listings last month is buying Toronto area home prices, which in September, rose slightly month-over-month to $1.09 million. It was the second consecutive monthly price increase, but on a year-over-year basis, the average house and condo...
Market Update for September 30
Developers are waiting longer for approvals and consumers are paying more. Toronto area municipalities are taking 40 percent longer on average to approve housing development applications than they did two years ago, and the cost of processing those permits has soared...
Market Update for September 23
There’s a significant shift happening in Canada — and it’s between the renter population and the homeowner population. While the number of homeowners in Canada is growing at 8.4%, the renter population is growing at 21.5%, more than double the rate, according to...
Market Update for September 16
Most people have probably come away from COVID-19 with a few purchases they now question, but for Canadian homebuyers who purchased a home during the pandemic, that home wasn’t one of them, at least that’s according to a new survey that found 63% of home buyers have...
Market Update for September 9
Housing markets are unique for their location, type, quality and size, so a decline in the average housing price is not the same as a decline in the price of an average house, which sometimes makes it difficult to decide whether it’s the right time to buy or sell....
Market Update for August 26
Housing market crash unlikely … Immigration and smaller household sizes are expected to help drive prices upward. New data released Monday by Statistics Canada found home prices increased by a mere 0.1 per in July compared with June — the smallest increase in more...
Market Update for August 19th
Toronto new condo sales decline 19%, but prices rise, according to Urbanation. Sales of new condominiums in the greater Toronto area have declined by 19 percent in the second quarter of this year, while the average price per square foot reached a record high of...
Market Update for August 5
Canada’s Tax Authority Has Been On A Multi-Billion Dollar Real Estate Crackdown! Canadian real estate owners are stuck paying huge penalties after trying to avoid taxes owed. New data from the Canadian Revenue Agency (CRA) shows their crackdown on real estate...
Market Update for July 29
Here we go again… another prediction for the real estate market. Canada’s housing market could be facing its biggest downturn in recent history, according to a new report from RBC. After the price of residential properties soared during the pandemic — with some of the...
Market Update for July 22
Mortgage rates are rising, but here’s why you won’t see a rash of Canadians losing their homes. Canadians will run up their credit cards, fall behind on their utilities and juggle car payments. The one thing they don’t do in significant numbers is fall behind on their...