Top 7 Tips To Attract the Best Offers for Your Home     Not long ago, home sellers were in their heyday, as historically-low mortgage rates triggered a real estate buying frenzy. However, the Bank of Canada shut down the party when it began raising interest rates last year.1 Now, it’s not as simple to sell a home. While pandemic-era homebuyers were racing the clock—trying to lock in a low mortgage rate and gain a foothold in the market—current buyers... [read more]

Lesser Property Listings & Stronger Demand for Home Ownership Resulted in 16.5% Increase in Real Estate Transactions in June 2023 TORONTO, ONTARIO, July 6, 2023 – Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to... [read more]

National Real Estate Market Update for 2023 There’s an old adage in real estate: location, location, location. But ever since the Bank of Canada began its series of inflation-fighting interest rate hikes last year, a new mantra has emerged: mortgage rates, mortgage rates, mortgage rates. Higher rates had the immediate impact of cooling homebuyer affordability and demand. But when the Bank of Canada announced in early March that it would put additional rate changes on hold, the... [read more]

GREATER TORONTO AREA HOME SALES AND LISTINGS DROP IN FEBRUARY 2023 Uptick in Home buying Expected Later This Year February sales in the Greater Toronto Area (GTA) were down substantially from the pre-rate hike levels of early 2022. However, the number of new listings also dropped substantially year-over-year. The result was that the average selling price and MLS® HPI continued to level off after trending lower through the spring and summer of last year. “It has been... [read more]

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]