How to Become a Homeowner on a First-Time Buyer’s Budget It's not easy being a first-time home buyer right now. At the end of last year, housing affordability hit an all-time low.1 Additionally, mortgage rates have risen significantly since 2021, while inventory remains tight for many property categories, but especially for starter homes. Even lower-priced condos are harder to snag these days, as investors and downsizers muscle out first-timers by offering stronger, often... [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]

My Home Didn’t Sell! Now What?   When it comes to listing your home, most home sellers want three things: 1) to make a lot of money, 2) to put in minimal time and effort, and 3) to sell quickly. But the reality is, selling a home is rarely that simple. And homeowners who try to do it themselves—or receive bad advice—can end up stuck (months later) with a property that hasn’t sold.  If that’s you, don’t panic! We’ve outlined the... [read more]

GTA Housing Market Prices Declined 9.2% While Real Estate Sales reduced by 48% in December 2022   The Greater Toronto Area (GTA) housing market experienced a marked adjustment in 2022 compared to record levels in 2021. Existing affordability issues brought about by a lack of housing supply were exacerbated by sustained interest rate hikes by the Bank of Canada. “Following a very strong start to the year, home sales trended lower in the spring and summer of 2022, as... [read more]

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]