Canadian Inflation Rate Remains Low

Canadian Inflation Rate Remains Low

For the past two-and-a-half years, policy makers have sought to explain why Canada, a country with sound economic fundamentals and a rock-solid banking system, was pulled down by the global spread of the U.S. financial crisis. As a new threat bubbles up in much of the world, though, there’s no need for excuses. The latest… Read More

Toronto Real Estate Market Still Going Strong

Toronto Homes Selling Prices 2009-2011

Late last year, the consensus view was that the Toronto real estate market would slow down in 2011 and that prices, while continuing to rise, would do so more modestly. There were even some that expected prices to fall this year. Well, there’s not much sign of a slow-down in the market so far. Average… Read More

Low Inventory of Homes for Sale Keeps Real Estate Markets Strong

Re/Max Canada Report

Housing markets have been remarkably hearty over the past decade and the stage is set for a better than expected 2011.  Inventory has proven to be an effective form of market self-regulation, providing both an ideal climate for price escalation and a shelter in periods of softer home-buying activity.  As a number of city centres… Read More

Optimistic Forecast for Real Estate Sales and Prices in 2011

Prices Going Up

The Canadian Real Estate Association has boosted its forecast for 2011 existing home sales after a stronger-than-expected hand-off from 2010. CREA now expects sales via its Multiple Listing Service to hit 439,900 units, representing an annual decline of 1.6%. In 2012, national sales activity should rebound by about 3% to reach 453,000 homes, it said…. Read More

Banks Raise Fixed Term Mortgage Rates

Banks Raise Mortgage Rates

A rise in bond yields has prompted TD Canada Trust to raise some of its fixed-term mortgage rates by as much as a quarter of a percentage point. CIBC followed late in the day with similar rate hikes. “When bond yields go up it means the cost of funding for the bank has risen for… Read More

Will We See the End of the Toronto Land Transfer Tax?

The Burden of Toronto's Land Transfer Tax

During last year’s election campaign, Rob Ford promised to repeal the hated Toronto Land Transfer Tax. As reported by Toronto Real Estate Board (TREB)  president Bill Johnston in today’s Toronto Star, realtors have been fighting against this unfair tax since it was first proposed in 2007, with strong support from the public. Earlier this week, TREB… Read More

2011 Toronto Real Estate Market Off to a Good Start

Toronto Area Price s Mid Jan 2011

Results for the first two weeks of January show that real estate prices in Toronto are remaining strong. The average selling price for the Greater Toronto area was $413,565, approximately 5% higher than the average price of $395,307 for the first two weeks of January 2010. Sales volume remains low, with total sales of 1,563… Read More

Long-term Future is Bright For Canadian Condos

"Condominium towers"

Drive around any major Canadian city and you’re likely to see lots of new condominium buildings under construction. You may wonder who is going to buy and live in those condos – and the answer is, everyone. In 2006, when the last Census was held, the number of owner-occupied condos in Canada was more than… Read More

Toronto Real Estate Prices Remain Strong

Toronto area selling prices for the first half of December are higher than in November, which is unusual for this time of year. This suggests that the spring market in 2011 will once again be strong, supported by continued low interest rates and a paucity of homes for sale.

Toronto Real Estate Market Stabilizing

Toronto Area Prices 2010

Evidence is accumulating that the Toronto area real estate market is returning to normal after a wild roller coaster ride that began in late 2008 when the financial crisis hit the world economy like a tsunami. Prices and sales volumes fell from late 2008 until early 2009; rebounded sharply upward from early 2009 until mid 2010; fell again during this past summer; and have rebounded again since September.