For the first time in years the detached markets of Toronto and Vancouver seem to be heading in opposite directions. Even when adjusted by our experimental nine-month time shift, Toronto is showing some strength while Vancouver appears to be in a free fall. After nearly five years of price alignment (with a nine-month time delay), one … Continue reading Vancouver/Toronto Comparison: Detached Update
The GTA finally has reason to be optimistic about home sales. After a nearly two-year sales drought, April showed strong year-over-year growth to kick off the spring season. The overall volume may still have room to grow to match the high sales years of 2015 and 2016, but any time there is a 17% improvement, … Continue reading Mortgage Rates, Mortgage Rates, Mortgage Rates!
Every month the average home price in the Greater Toronto Area is reported to reflect the current state of the market. However, the number that is shared only ever reflects the average amount spent on a home, it never captures the market shares of the different home types. This missing information is important because these … Continue reading The average home isn’t what it used to be
Even in a strong market like Toronto, the time of year you buy or sell a home can have an impact on its price. The spring housing season may be when the most sales and new listings show up on the market, but it is not necessarily the best time to buy or sell a … Continue reading When it’s best to buy and sell
The March stats for new home builds offered another mixed bag of results. Single-family homes saw their sales rebound from 2018, though remain below the 10-year average; however, their prices fell in both year-over-year and month-over-month results. Condos saw sales fall again, and while prices were up year-over-year, they were down compared to February, marking … Continue reading New home stats for March…still not great
In theory in real estate, the list price of a home is designed to give potential buyers a pretty clear indication of what the sellers are hoping for. In Toronto's housing market, however, list prices can mean almost anything. Some homes are put on the market at oddly low prices that immediately suggest the agent … Continue reading Questioning List Price
The B-20 stress test cost the Canadian housing market $15 billion in 2018. That was the number quoted in a CIBC report analyzing the financial impact the B-20 stress test had during its first year in existence. The report estimated that the housing market lost out on $25 billion worth of new mortgages in 2018, … Continue reading The Impact of the Stress Test