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 more home owners to list, leading us back to a more balanced market.
Our economy continues to expand which is good for everyone and with immigration pushing the demand for housing expect to see improved home prices over the coming months.
As in all markets there are pockets of highs and lows which leaves room for everyone to "get a foot in the door" of the market. If you're looking for a new home feel free to give me a call, it would be my pleasure to talk shop and help you out any way I can....always with no obligation (don't you hate those pushy sales guys??) ;)