Speed read – TL;DR: ⚡GTA ➡️ BOC suggested interest rates should stay where they are. ➡️ Buyer confidence has returned combined with low inventory – we are seeing offer dates again… ➡️ We maybe seeing the floor now? ⚡Mississauga ➡️ Overall sales are down almost 50% compared to last year. …
Happy New Year! I am excited to see what 2023 will bring. And to all my friends who celebrate the Lunar New Year, this year is the Year of Rabbit! It is a time for family gathering, eating special foods and treats, counting our blessings from the previous year and of course Red Pockets!! My wife, Claire, and I will be …
Merry Christmas 🎄 from my family to yours! Speed read – TL;DR: ⚡November sales are down 49.4%, new listings are down 11.6%, the average price is down 7.2%, similar numbers for the last 3 months. ⚡BoC increased the interest rate by another 0.5% to 4.25% on Dec. 7. ⚡ Bill 23 is now passed – what you need to know! ⚡ …
Last update Dec 12, 2022 Update: Bill 23 was passed by the Ontario legislature on November 28. More Homes, Built Faster Act was passed by the Ontario legislature on November 28 and was done fairly quickly. This is the Ontario government’s plan to build 1.5M homes in the next 10 years. Many local municipalities are against this provincial act. One …
GTA Market Stats Highlights The October numbers are a continuation of the August and September numbers. The biggest drop has already happened. Even with the rate hike in September and October, the market didn’t stray from the trend we have seen in the past few months. Sales are down 49.1%, and new listings are down 11.6% down year-over-year. That’s the …
September is the start of the fall market. With our 5th interest rate increase in 2022 on Sept 7, the market numbers are out! Sales are down almost 46% from last year, and average prices are down 0.5% in Mississauga. We may see more interest rate increases in October and maybe December. Inflation looks to be heading in the right …
Are We At The Bottom of The Market? The GTA Real estate market has had quite the ride in 2022. From historically low interest rates that caused an ultra hot seller’s market, and the 4 interest rate hikes since March and now a 5th, 0.75% increase, have really raised the cost of borrowing to the point of bringing the real …
Home prices continue to cool. With a full 1% interest rate hike on July 13th, buyers are pulling back and waiting to see how this uncertain market settles down. For the GTA market, sales are down by 47.4%, active listings are up 57.6% and the average price is up 1.2% compared to last July. The average price is $1.074M. Days …
2022 has been quite a rollercoaster of a year. In Q1, we saw home values surge almost 30% year over year in values. With historical low-interest rates and the demand for housing was the main driving force. Inflation was rising fast and the Bank of Canada (BOC) started increasing the interest rates. Mortgage rates were at 2.7%, 4 rate hikes …
You make a purchase, you live in payments. If you’re waiting for prices to come down more, you’re only going to end up paying more. Interest rates have come up by 1.25% with another hike expected in July and another in September. If you bought at the peak in February at low interest rates, you’re still paying less than if …
