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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com

1 February 2019

New home sales in Toronto are falling

It looks like buyers of new real estate have finally reached their maximum financial capacity in Toronto.

Following years of extremely high prices growth, new homes sales in Toronto fell to their lowest mark in 20 years in 2018. Moreover, the supply of unsold condominiums went up, two new reports say.

According to Shaun Hildebrand, president of condo research firm Urbanation, it’s important to be very cautious when investing in new condos, especially in case of the short-term perspective, as we can see a tendency of a slower prices growth now. “The market is normalizing, following recent unprecedented activity,” – he says.

Toronto’s real estate market is cooling sharply after the new mortgage rules were implemented and the interest rates went up. The city now joins London and Sydney where markets are also facing a slowdown, as international investors lower their activity and domestic buyers are scared away by high prices.

31 January 2019

Homebuyers in Ontario may find out about the price offers for the home they want

Ontario government is thinking about letting realtors reveal other price offers to potential homebuyers amid high competition.

On Thursday, the government launched a consultation on reviewing the Real Estate and Business Brokers Act, particularly changing this rule.

Today, in case there are several offers, the broker is allowed to reveal only the number of offers and not the exact prices.

As a result, many buyers at the hot real estate market tend to blindly offer more than they have planned only trying to outpace their competitors.

30 January 2019

Housing market decline represents a strong threat to the entire economy

Following recent evidence of economic rebound, the report from the Canadian Real Estate Association (CREA) says the national home sales last year fell by 11.1% annually.

It’s the largest drop since the recession in 2008. Moreover, it follows a 4.64% decline in 2017, making it more possible to see further decrease threatening the economic stability.

According to CREA, such weakness could become more obvious soon, as each unsuccessful sale accounts for about $64,000 lost in a possible spin-off economic activity. In addition to it, only 3 transactions are already equivalent to the economic activity generated from just 1 new job.

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22 February 2019

Home prices growth in Canada may remain moderate during the next two years The recent Reuters survey of analysts shows that once hot real estate mark...Read more >>

21 February 2019

Political leaders offer more measures on improving housing affordability NDP Leader Jagmeet Singh explained how his party could improve hou...Read more >>

20 February 2019

Should we expect a rate hike from the central bank in March? With today’s economic challenges – weak real estate market, difficulties with oil and tr...Read more >>
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