Finishing the first quarter of the year, the average home in Toronto is spending more time on the market then it did last year, and as a result, there are more homes available in relation to sales. Since mid-2017 the average days on the market (DOM) has been growing year-over-year for in Toronto. This has … Continue reading Inventory is growing and sitting longer
From 2016 to 2018 condo prices rose 40% in Toronto. After years of slow growth in comparison to the detached market, the condo sector was getting its time in the sun. But that window of success may now be closing. To start 2019 the average condo price has barely outperformed inflation, while sales are slipping … Continue reading The party may be over for condos
Spring is here and with the March housing stats released, the winter housing season is officially behind us. Picking up from the story line that January and February provided, the March data once again showed low sales and lower new listings levels. But it also showed two new trends emerging: a city vs. suburbs sales … Continue reading March Housing Numbers
The last time Toronto had a major housing correction was nearly 30 years ago. After a decade of price growth, and five years of rapid price growth through the late ‘80s, prices retreated in Toronto in 1990. What ensued was seven years of falling home prices before a rebound finally took shape. In the end … Continue reading What if a ’90s price drop happened today?
The Building Industry and Land Development Association (BILD) released the February numbers for new home sales today, and the results were not pretty. Yes, it was positive that sales of single-family houses climbed from 259 to 639 year-over-year; however, that number is still only 44% of the volume of sales from 2017. The real story … Continue reading Plummeting New Home Sales
In the federal budget two programs were extended to first-time buyers to help them enter the housing market. The first provided mortgage assistance for households making under $120,000 and the second increased the amount individuals could borrow from their retirement savings plan to put towards a down payment. These initiatives will be implemented nation-wide in … Continue reading Impact of New Mortgage Programs
The first two months of 2019 have not been very memorable for the GTA’s housing market. Prices are up nearly 2% while sales are down by the same amount. In many ways it would seem that very little has changed from last year; however, a closer look shows that it continues to get harder to … Continue reading Entering the Market