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February 2021 - Posts

With Toronto condo sales rebounding, prices could heat up later this year
It won’t happen overnight, but with Toronto condo sales clearly on the rebound, struggling condo prices could soon be following them upward before the end of the year. That’s the message from RBC Senior Economist Robert Hogue who, earlier Read More...
One-bedroom rents in Toronto and Vancouver reach lowest point since 2017
As we creep closer to the one-year anniversary of Canada’s first COVID-19 lockdowns, the country’s major rental markets continue to see prices fall as rental supply climbs and empowered renters negotiate with landlords. New figures released Read More...
Canadian home sales set another record in January, prices post 23% increase
It’s still early in the year, but January 2021 is looking awfully similar to basically every month in the second half of 2020, at least as far as the country’s high-flying housing market is concerned. While we started sounding like a broken Read More...
Canadian home prices soared 9.6% in January, highest increase since 2017: Teranet
A Canadian home price tracker known to be one of the most reliable measures of appreciation just recorded its highest annual increase since October 2017. The Teranet-National Bank Home Price Index rose 9.6 percent over the previous year in January, led Read More...
Mortgage rates to start rising from record-lows before end of 2021: Capital Economics
Rock-bottom mortgage rates have been a major driver of red-hot home buying activity across Canada since the country emerged from the widespread lockdowns of spring 2020. Those rates are likely to stay near all-time lows for the first half of 2021 but Read More...
Here Are Canadian Regions With Below Average Home Prices And The Homes You Can Buy There
By comparison, new listings dropped nationally by 2.9% y-o-y, with just 52,342 properties being added to the market last month. As such, the overall housing market was highly competitive for home buyers in January, as indicated by the sales-to-new-listings Read More...
Canadians Under 35 See Net-Worth Climb, But Toronto Is A Big Exception
Canadian households saw net-worth make big gains over the past few decades. Using Statistics Canada (Stat Can) data from the recently released Survey of Financial Security (SFS), we can see how net-worth evolved for each age group from 1999 to 2019. Generally Read More...
TRREB Forecasts Strong Demand for Real Estate in 2021 Highly-Anticipated Outlook Report and New Digital Digest Unveiled
TREB) is unveiling its must-read Market Year in Review & Outlook 2021 Report and eagerly awaited digital digest containing TRREB’s annual market outlook, up-to-date Ipsos consumer polling results, the most recent Altus new home and commercial Read More...
The East Gardiner: a stretch of highway, or a new neighbourhood?
Back in 2015, Toronto’s biggest issue was traffic congestion. Or, at least, that was how it seemed at City Hall, when city council approved a $919-million project to reconstruct one section of the Gardiner Expressway. Much has changed since then. Read More...
Detached home prices rose over 20% in every Toronto suburb in January
Ever since the housing market rally began in 2020’s second half, the number of Toronto region communities recording 20 percent-plus annual price gains in their detached home markets has been climbing each month. Of the 30 suburban cities and towns Read More...
New purchase requests outpaced refinances in January: nesto
The appetite for homeownership in Canada has been strong to start the year thanks in large part to low interest rates, according to nesto, an online mortgage brokerage. A report from the firm showed that 60% of the brokerage’s users intended to Read More...
New forecast says 2021 will be second-best year ever for Toronto home sales
Homebuyers were out in full force again in January, snapping up 6,928 homes across the Toronto region. And, according to a new forecast, this momentum out of the gate is expected to persist throughout the entire year. The Toronto Regional Real Estate Read More...
Toronto home prices up over 15% in January, sales continue to surge
After a busier-than-usual December home buying season, purchasers across the Toronto region spent the first month of 2021 continuing their buying spree. January home sales were up over 50 percent compared to the same month last year. Robust buyer activity Read More...
8 things to focus on in 2021...before it's too late!
Here are 8 things you should be working on this year 2021,it's that important! 1 Decide how you want to feel every morning! It’s up to you. 2 Work on your mind and body daily! Your life is in your hands. 3 Set goals that are specific and change Read More...
GTA REALTORS® RELEASE JANUARY 2021 STATS
GTA Real Estate Market Update by Toronto Real Estate Board • January 2021 home sales amounted to 6,928 – up by more than 50 per cent compared to January 2020. This strong start to 2021 included sales growth across all major segments including Read More...
K-shaped housing market
If you’ve been following the housing market (in most cities) over the last year, this chart likely won’t surprise you. It is from a recent City Observatory article by Joe Cortright talking about the “k-shaped housing market” that Read More...
City selects $500M plan for Hamilton's downtown entertainment facilities
The winning proposal of the multi-million dollar renovation to Hamilton's downtown entertainment facilities proposes massive changes to FirstOntario Centre, FirstOntario Concert Hall and the Hamilton Convention Centre, as well as a series of high-rises. Read More...
Oshawa CMA, which includes Whitby and Clarington, ranked as fastest growing population in Canada
The Oshawa Census Metropolitan Area (CMA) is leading the country in population growth. That’s according to a new ranking from Statistics Canada, which reports the Oshawa CMA had a population growth rate of 2.1 per cent in 2020. According to the Read More...
Here’s what’s happening with the hard-hit condo market in Mississauga
Although the COVID-19 pandemic did not impact the GTA housing market quite as profoundly as some thought it might, the province's lockdown measures made cities a little less desirable than rural and suburban areas with larger homes and yards, and Read More...
New suburban condos just outsold the 416 for first time ever
Over half of the new condos sold in 2020 in the GTA were located in suburban “905” areas of the region — a first in the several decades that market data has been collected. There were 9,288 new condo units sold by home builders last Read More...
For the first time ever, there were more pre-construction condos sold in the 905 area than Toronto last year
Smaller apartments with big appeal for investors helped the 905 areas outside the city dominate the Toronto region’s 2020 condo market in a trend that is expected to continue in 2021, said Shaun Hildebrand, president of market research firm Urbanation. Read More...