Toronto Market Getting Steadily Stronger

Prices for all property types continued the typical summer pattern in August, with prices for both freehold homes and condominiums lower than in July. Compared with last year, there are some definite positive signs: Prices were higher than last August for both freehold and condo properties. In fact, for the first time this year, prices… Read More

GTA Market for Rental Properties Growing Stronger

A recent report conducted by Ryerson University’s Centre for Urban Research and Land Development found that Toronto is the fastest-growing city in Canada and the U.S. by a huge margin. Immigrants are being attracted in droves by employment opportunities – for example, in the first half of 2019 alone, 81,600 new jobs were added and, on a… Read More

GTA Summer Market Showing Signs Of Strength

Toronto area prices were lower in July than in June for all property types, which is completely normal for the summer months. Sales in July were 3% lower than in June, while the total number active listing was 9% lower, and so the inventory of homes for sale dropped to just above 2 months’ supply,… Read More

Summer Slowdown Has Begun In Toronto

Following the normal seasonal trend, prices and sales in June were lower than in May, beginning the slowdown that typically begins in mid June and continues until late August. Because of our short summer season, many buyers and sellers decide to take a break until after labour day, and the market therefore tends to ‘thin… Read More

Toronto Market Continues To Build Momentum In May

Toronto area prices rose again in May, for the fourth month in a row, and were also higher than last May. Freehold prices in particular were significantly higher than the previous month, and have now pulled even with last year after being lower for the first four month of the year. Condominium apartment prices also… Read More

Home Sellers: The Curse Of The First Offer

Sometimes when everything goes right we have trouble accepting that fact. Perhaps nowhere is this phenomenon more clearly illustrated than in the case where a seller receives a good offer right away. The annals of real estate are well stocked with stories of sellers who refused to take a good, but not perfect, first offer,… Read More

Ontario Government ‘More Homes, More Choice’ Act

On June 6, the Ontario Government passed new legislation to deal with the housing crisis through a five point plan: 1. Speed: cut out government bureaucracy that slows down the development process; 2. Cost: encourage developers to build more housing by reducing the layers of permits, government approvals and charges by municipalities and making these… Read More

Toronto Market Gains Strength In April

After a slow start to the year, hampered by a lingering and unpleasant winter, the Toronto area market kicked into a higher gear in April. Sales for the first three months of the year were very similar to 2018, but April sales of 9,042 houses and condos were 16% higher than last year. The number… Read More

New Mortgage Qualification Rules – More Unintended Consequences

As previously reported here, the B-20 ‘stress test’ mortgage qualification rules (requiring buyers to qualify ‘as if’ the mortgage rate were 2 points higher than it actually is) has resulted in a significant reduction in the number of real estate sales across the country. In turn, this caused an unintended knock-on impact on economic activity… Read More

Interest Rates Unlikely To Rise In 2019

The latest data from Statistics Canada shows that GDP has actually fallen in four of the past six months, suggesting that, after the longest (if one of the weakest) recoveries ever, we are heading toward a recession within the next year or so. Click to view monthly GDP chart This is why the Bank of… Read More