GREATER TORONTO – In a month where the number of available listings in Toronto was scarce – even compared to the previous month’s below-average total of 11,346 – the average price of GTA homes broke yet another record, according to new numbers from the Toronto Real Estate Board (TREB). The Board’s newest Market Update […]
Market Update: CMHC Introduces Tighter Mortgage Lending Limits for August 2013
TORONTO – For the fourth time in five years, Canadian banks’ leashes have been pulled a little bit tighter when it comes to mortgage financing. As reported by Reuters’ Andrea Hopkins, earlier this month the federal government made a cautious move to restrict the dollar value of mortgages insured by the Canada Mortgage and Housing […]
2013 Yields Strong Spring for Residential Construction in Toronto
GTA REAL ESTATE – Toronto experienced “significant gains in construction intentions” this May, according to Statistics Canada. The government agency’s July 8 report, entitled Building Permits, May 2013, shows that the value of building permits issued during May in the City of Toronto – a whopping $1,443.6 million – reflected an increase of 34.3 per […]
CMHC Predicts “Modest Growth” for Ontario Housing Market in 2014
GTA REAL ESTATE MARKET – The Canadian Mortgage and Housing Cooperation (CMHC)’s Housing Market Outlook for the first quarter of 2013 featured some predictions for the Canadian real estate market, including the market right here in Ontario. CMHC predicts that over the next two years, Ontario will experience employment growth mirroring that in the US […]
Canadian Home Sellers Refusing to Lower Prices: Financial Post
Garry Marr’s recent Financial Post piece entitled “Are stubborn sellers killing the real estate crash?” raises a great question about the current housing market not just in Toronto and the GTA, but across the rest of Canada as well: when are Canada’s home sellers going to acknowledge that the real estate “bubble” has burst and […]