The GTA housing market showed some improvement during August as sales and prices increased from July. The 15% monthly gain in sales was unusual for August, which is typically the slowest period of the summer for home buying. Nonetheless, sales were down 34% from a year ago and represented a 20-year low for August. Over the past 12 months, total sales volume of 91,412 transactions fell back to its late-2020 level and below the 10- year trend level of approximately... [read more]

One question that many people grapple with is whether you should try to purchase a condo unit versus renting it. This article will help you to consider the five advantages of buying versus renting a condo, so that you can make the best decision for your life circumstances. Advantages of Buying   #1: Building equity Condominiums are often thought of as starter properties because their price points are typically more affordable than detached homes. A lower purchase price means a... [read more]

In an attempt to cool the real-estate market and reduce inflation, the Bank of Canada has increased the overnight interest rate by 0.25%. An increase in the cost of borrowing is certain to have an impact on the number of homeowners and homebuyers. According to economists, Canadians could see as many as four interest rate hikes this year, each comprising an additional 25 basis points. By the second half of 2023, the interest rate is expected to reach 1.75 per cent. Those with fixed-rate... [read more]

We have almost finished with the first quarter of 2022 and it has not been short of events happening.  Two years and counting, we are still battling COVID-19, Inflation is at a level not seen in over three decades (According to Statistics Canada, Canadian inflation surpassed 5% for the first time since September 1991, rising 5.1% on a year-over-year basis and up from a 4.8% gain in December 2021.) civil unrest everywhere, debt is at an all time high, major interruptions/backlog in the... [read more]

Although no one has a crystal ball and it is hard to say for certain what will happen, here are some educated predictions for 2022. Toronto's real estate market in 2021 has put home purchases out of reach for many millennials and first-time buyers.  Tougher lending, qualifying and mortgage approvals are also forcing buyers to lower their expectations when purchasing.  Unfortunately, most experts are predicting house prices to continue to rise in 2022, but perhaps at a... [read more]