Amidst government interventions, rising mortgage rates, and declining sales activity within the Greater Toronto Area (GTA), luxury condo prices have remained comparatively resilient. According to new figures released last week by Royal LePage, luxury condo prices outpaced luxury detached homes in the GTA over the first four months of the year, with average prices rising […]
While the housing market may appear to be stabilizing itself, when compared to the whirlwind number of sales and steep pricing last year, the latest Market Figures report released by the Toronto Real Estate Board (TREB) shows April home sales are at its lowest level in 15 years. Typically, April tends to be a big month for the […]
Last week, three of the five largest banks in Canada, TD Bank, CIBC, and RBC, raised their benchmark rates for five-year fixed mortgage rates, igniting concern amongst homebuyers and homeowners. TD Bank began the rippling effect of rising interest rates last Wednesday, increasing its five-year fixed rate 45 points, from 5.14% to 5.59% – not […]
Since January, home sales across the Greater Toronto Area (GTA) have been tumbling when compared to the same time last year. Economists, however, are hopeful that come Spring, the market will adjust and bounce back. When comparing year-over-year, sales these past few months in the GTA have plummeted 30 per cent or more, with average […]
When trying to find a place downtown Toronto we stumble upon a lot of one-to-two bedroom condos in sky-high towers. When looking for a place in the suburbs, we find many single detached family homes. What the city lacks are ground-centered housing types like small apartment blocks, multiplexes, stacked townhomes, and courtyard apartments – also […]
Last Wednesday, The Toronto Real Estate Board released its market figures for the month of March, and the findings are not looking too hot for Toronto’s housing market. The report, which displays home sales and prices across the Greater Toronto Area (GTA), shows a steep decline with residential sales dropping nearly 40 per cent, while […]
Sales volumes may have been down these past few months, but the intent to buy a home across the country has significantly increased. According to a recent poll done by RBC Homeownership, one-third of Canadians are likely to buy a home in the next two years. This number, up from seven percentage points from last […]
