Greater Toronto real estate buyers are returning, but the market has a long way to go. Toronto Regional Real Estate Board (TRREB) data shows that both sales and home prices climbed in November. The positive market news is overshadowed by the unusually lofty levels of inventory that continue to rise. Rising prices demonstrates FOMO is […]
Canadian immigration policy changes may mean a drastic shift for new home prices in the coming month. Statistics Canada’s October New Housing Price Index (NHPI) shows the sharpest monthly drop since 2009. The drop comes after the index returned to positive growth, potentially warning that last month’s immigration announcement has shifted buyer outlook. Canadian New […]
Demand for new homes in Toronto has fallen to one of the weakest levels in years, despite soaring incentives. Altus Group and developer-group BILD GTA data shows new homes sales plunged even lower in October. Even with prices down more than 30% since peak and falling rates, buyers are still sitting the market out. The […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Makes A Huge GDP Revision, BoC Made Supersized Rate Cut On Bad Data Canada’s economy is doing much better than previously believed, and that’s a problem. Statistics Canada made astronomical revisions to real GDP, adding the equivalent of an extra year […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Rental List Prices Make First Drop Since COVID, BC & ON Cities Lead Lower Canadian rental prices just made their first annual drop in years. The average monthly asking price for a rental fell to $2,151 in October, down 1.2% from […]
Canadian rents are showing the first sign of weakness since the pandemic kicked off. A new report from Urbanation & rentals.ca shows the average rental price fell to $2,151 per month in October, down 1.2% since last year. It was the first year-over-year (y/y) drop since July 2021, with the 3-month trend showing annual growth […]
The Greater Toronto real estate price boom continued to unwind last month. Toronto Regional Real Estate Board (TRREB) data shows the price of a composite benchmark (typical) home fell once again in October. Prices have now rolled back to where they were 3-years ago, falling nearly half the cost of a home just 10-years prior. […]
Greater Toronto condo owners holding out for the monetary easing cycle got some bad news last month—it didn’t matter. Toronto Regional Real Estate Board (TRREB) data shows the benchmark (typical) condo apartment price plunged lower in September. The declines aren’t softening either, instead picking up pace and making one of the largest monthly drops on […]
The Greater Toronto real estate rut continued last month. Toronto Regional Real Estate Board (TRREB) data shows the price of a typical home fell once again in September. Despite a mild improvement in sales, inventory climbed much faster helping to apply further downward pressure on prices. The benchmark is now within spitting distance of prices […]
Toronto real estate has once again assumed its natural position as one of the biggest bubbles in the world, according to a Swiss banking giant. UBS released its 2024 Global Bubble Index, an annual scorecard of the riskiest real estate markets in the world. Toronto climbed into 5th place, but managed to lower its risk […]
