I was following up on a report from Scotia Capital about the world economy and was pleased to see something that matched what we in the industry have been seeing first hand....Canada continues to have a good economy and is a great place to be invested in real estate. Below is a direct quote from the report which I have included a link to further down in my blog.
"Canada’s housing ...
Posted by Robert Atkinson
on September 28, 2011
Well, with 15% fewer listings this May compared to last May, and mortgage rates still at record lows the Toronto Real Estate market continues to perform well, favoring sellers over buyers. Sales were up 6% over last May. “Positive economic news and low borrowing costs led to strong sales through the first five months of the year, including the increase in May,” said Toronto Real Estate ...
Posted by Robert Atkinson
on June 13, 2011
Toronto Real Estate Board states “The number of listings has been below expectations so far this year. Increased competition between home buyers has led to an accelerating annual rate of price growth,” which has pushed home prices up to a 9% increase over last April, setting the average home price to $477,407. There is an expectation that this new spike in prices will encourage ...
Posted by Robert Atkinson
on May 7, 2011
This spring continues the pattern of being a popular time to buy and sell homes. The Toronto Real Estate Board reports9,262 transactions through the TorontoMLS® system in March 2011, representing the second best March result on record. The number of transactions was 11 per cent lower than the record result reported in March 2010.
“The strong home sales reported in March and ...
Posted by Robert Atkinson
on April 5, 2011
If you're selling your house, one of the first steps you'll take is setting an asking price, a task that requires the ability to find the perfect balance between attracting solid offers and ultimately receiving top dollar.
If you're working with a Realtor, you'll probably hear talk of fair market value, which typically means the highest value an educated buyer will pay. Fair market value is usually ...
Posted by Robert Atkinson
on October 24, 2010
Last year no one wanted to talk about the market as the focus was on jobs and economy. For those who were looking for a bargain 2009 was the year to sell and buy or just buy. This year, many of the folks who bought last year in the dip sold this year and made a very nice profit, very nice indeed!
This year started off with a bang as many buyers flocked to the market looking for home, ...
Posted by Robert Atkinson
on June 10, 2010
Economists are predicting the current activity in housing to slow down. This means home prices will stabilize as the demand begings to balance with the availability.
See this attached story from the Toronto Sun.
Last year’s comeback for Canada’s housing market will carry through early 2010 but subdued activity is on the horizon as higher prices and interest rates make property ...
Posted by Robert Atkinson
on March 26, 2010
According to many of Canada’s top economists, higher interest rates – and debt servicing costs – may be just around the corner. Exactly when rates will rise is unclear and depends on who you talk to.
In its latest Financial System Review, The Bank of Canada judges that vulnerability of Canadian households to adverse wealth and income shocks has grown in recent years. “At ...
Posted by Robert Atkinson
on February 2, 2010
October 5, 2009 -- In September 2009, Greater Toronto REALTORS® reported 8,196 sales, up 28 per cent from September 2008. The average price for September transactions was $406,877 – up by 10 per cent compared to the same month last year. “We have experienced an increasing rate of existing home price growth in the GTA as sales have continued outpace 2008 results,” said TREB President ...
Posted by Robert Atkinson
on October 8, 2009
Bank of Canada dropped the prime lending rate 0.25% and the banks followed. Further assurances were given that the rates are expected to remain low into 2010.
Prices have become more affordable and we are seeing an increase in home sales above what is typical of the spring market. This means that 'serious' buyers are moving fast to scoop the better homes as soon as they hit the market, ...
Posted by Robert Atkinson
on April 23, 2009