Toronto Area Market Remains Balanced Through The Fall

Once again, year-over-year average prices in the Toronto area were higher in November than last November, though both sales and active listings were lower. Prices continue to track 3-5% above last year, as they have every month since the summer. If the seasonal pattern holds true, prices should drop about 4% in December; this will… Read More

Toronto Prices and Sales Move Higher in October

In a continuation of the ‘return to normal’ trend that we have seen since early this year, Toronto area prices and sales in October were higher than both the previous month and the previous year. The seasonal pattern that we saw repeated year after year over the past 20 years (up until the bubble started… Read More

CMHC Housing Market Assessment For 4th Quarter

The Canadian Mortgage and Housing Corporation (CMHC) publishes regular reports on the state of the housing market across Canada. Click here to view the latest report, for the fourth quarter of 2018. Highlights of this report include: For Canada as a whole, house prices are overvalued and vulnerable to a market correction. However, prices have… Read More

Rising Interest Rates Are Causing Increased Anxiety

Results of a recent cross-Canada Ipsos poll conducted by MNP Ltd. show that Canadians in general and Ontarians in particular are concerned about continued increases in interest rates. One third of respondents said that they are worried that higher interest rates could push them closer to bankruptcy – up 6% from the same poll three… Read More

The Fall Market Has Arrived

Overall, the Toronto area market continues to follow the trend established early this year, a trend very similar to what we saw for more than 15 consecutive years before last years ‘bubble and burst’: slower in December/January and July/August, and strong from February through June and from September through November. Right on cue, September average… Read More

Toronto Real Estate Market Following A Smooth Trend

After the tumultuous up-and-down price action that we saw in 2017, the return to a normal seasonal pattern in 2018 has been very welcome. Prices and sales spiked upward in extreme fashion in early 2017 and then, after the Ontario government issued its 16-point ‘Fair Housing Plan’ in April, the bubble deflated rapidly through the… Read More

The Dog Days Of Summer Are Upon Us

The summer heat wave in Toronto has brought with it the typical slowdown in the real estate market. Prices and sales in July were lower than in June (as they are every year), though higher than last June. This probably sounds very confusing; the chart below should help to clarify what is going on. As… Read More

Toronto Market Remains Strong in June

For the first time this year, both sales and selling prices in the GTA were higher than the same month in 2017, ending six months of ‘lower than¬† last year’ comparisons. This is because the market has been steadily improving throughout this year, while the market fell steeply from May, 2017 onward, after the Ontario… Read More

Toronto Prices Up Four Months In A Row

Toronto area prices increased again in May, the fourth straight increase this year. While prices remain lower than last year, they will likely be on par with 2017 prices by next month, and then higher for the rest of the year. The reason for this is the extreme bubble last spring, which resulted in off-the-chart… Read More

Toronto Market Continues to Normalize

For the third month in a row, average selling prices have increased in the Greater Toronto area. While prices are still significantly lower than this time last year, they are very much in line with the historical trend that existed before the aberrational late 2016/early 2017 bubble came and went.   For example, year-to-date average… Read More