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2023 Real Estate Market Outlook (And What It Means for You)

Tuesday Jan 3rd, 2023

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2023 Real Estate Market Outlook

2023 Real Estate Market Outlook (And What It Means for You) Last year, one factor drove the real estate market more than any other: rising mortgage rates.  In March 2022, the Bank of Canada began a series of interest rate hikes in an effort to pump the brakes on inflation.1 And while some market sectors have been slow to respond, the housing market has reacted accordingly. Both demand and home prices have softened, as the primary challenge for buyers has shifted from... [read more]

Interest Rate Hikes Drive Down Home Sales and New GTA Real Estate Listings in November 2022

Friday Dec 9th, 2022

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Interest Rate Hikes Drive Down Home Sales and New GTA Real Estate Listings in November 2022 Homeownership market activity in November continued to be influenced by the impact of higher borrowing costs on affordability. Sales were down markedly compared to the same period last year, following the trend that unfolded since the commencement of interest rate hikes in the spring. New listings were also down substantially from last year, and at a very low level historically. The fact that the... [read more]

5 Year Rule of Real Estate

Monday Nov 7th, 2022

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5 Year Rule of Real Estate

5 Year Rule of Real Estate   You need to know about the 5-year rule. 🏡 Some financial experts caution against buying a home unless you plan to own it for at least 5 years. This is because there are costs associated with purchasing and selling a home, and it may take time for the property’s value to rise enough to offset those expenditures.  If you aren’t sure about your new area or think you will need to move soon for work or family, you may be better... [read more]

Home Inspection Mistakes

Friday Nov 25th, 2022

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Home Inspection Mistakes

Home Inspection Mistakes   🚩Don’t make these common home inspection mistakes!🚩 Home inspections are a make-or-break moment, but there’s no need to panic. Just be sure to avoid these common mistakes: 1️⃣Miss Attending Your Inspection It’s the perfect chance to find out where everything is located and see first-hand what repairs and updates may be needed. 2️⃣Expect a Perfect Report The key is to understand which problems are simple... [read more]

NEW GTA HOME LISTINGS DOWN WHILE THE AVERAGE REAL ESTATE SELLING PRICE LEVELS OFF IN OCTOBER

Thursday Nov 3rd, 2022

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October 2022 Housing Report

NEW GTA HOME LISTINGS DOWN WHILE THE AVERAGE REAL ESTATE SELLING PRICE LEVELS OFF IN OCTOBER TORONTO, ONTARIO, November 3, 2022 – Despite the continued housing market transition to a higher borrowing cost environment, the average selling price in the Greater Toronto Area (GTA) found some support near $1.1 million since the late summer. GTA home sales continued to adjust to substantially higher interest rates in October 2022, both on an annual and monthly basis. However, new... [read more]

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