Price Growth Continues to Slow Across GTA and Beyond

The Canadian Real Estate Association (CREA) released its national housing market report for January 2018, announcing a three-year low in home sales through the MLS systems. From December 2017 to January 2018, national home sales dropped 14.5%. On a year-over-year basis, this is only a 2.4% decline. “The piling on of yet more mortgage rule changes that took effect starting New Year’s Day has created home-buyer uncertainty and confusion,” says CREA President Andrew Peck. “At the same time, the changes do nothing to address government concerns about home prices that stem from an ongoing supply shortage in major markets like Vancouver…

Feb 27, 2018 / by admin / No Comments

Toronto Housing Market Hits Deep-Freeze as New Rules Bite

The market has begun to buckle under a raft of measures to curb prices that were soaring at a 20 per cent clip a year ago. The only thing that might be colder than Toronto in January is the city’s housing market. While the bleak mid-winter is never the best time to sell a home in Canada, a string of open houses in the country’s largest city were chillingly empty on a recent Saturday afternoon. Tougher mortgage rules went into effect on Jan. 1 just as higher interest rates began to bite, and the market’s on edge, waiting to see…

Feb 05, 2018 / by admin / 2 Comments