Monday, January 3, 2022 / by Evelyn Lopes
Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that led to a record number of home sales and a historically-high rate of appreciation, as prices soared by a national average of 19.9% year over year, according to the Canadian Real Estate Association.1
There were signs in the second quarter that the red-hot housing market was beginning to simmer down. In June, the pace of sales slowed while the average sales price dipped 5.5% below the springtime peak.2
But just when the market seemed to be cooling, home prices and sales volume ticked up again in the fall, leading the Royal Bank of Canada to speculate: “Canada’s housing market run has more in the tank.”3
So what’s ahead for the Canadian real estate market in 2022? Here’s where industry experts predict the market is headed in the coming year.
MORTGAGE RATES WILL CREEP UP
The Bank of Canada has signalled that it plans to begin raising interest rV ...
Friday, December 3, 2021 / by Evelyn Lopes
Every year, it seems the holidays sneak up on us—and every year, that brings with it the dreaded last-minute gift panic. Finding a present that hits all the right notes can be surprisingly stressful, even when it comes to people you’ve known for years.
But have no fear! We’ve lined up a list of gifts for every “type” on your list. And since we work in real estate, they’re all centred around home life. From the coffee snob to the sports enthusiast, these presents are the perfect way to bring beauty, function or a touch of whimsy to your loved one’s home this holiday season.
FOR THOSE WHO ARE ALWAYS IN THE KITCHEN
We all know someone whose kitchen is their happy place—but once all the basics are covered, it can be hard to find the perfect present. These gifts will be a treat for the chef, baker, or food lover on your list, no matter how well equipped they are.
1. The Coffee Snob
Glass Pour-Over Coffeemaker - $75
Have a java lover. ...
Thursday, November 4, 2021 / by Evelyn Lopes
The Toronto Regional Real Estate Board Reports-
NEAR RECORD HOME SALES, LOW INVENTORY SUSTAIN STRONG PRICE GROWTH
TRREB Calls for Housing Solutions as Demand Outweighs Supply
TORONTO, ONTARIO, November 3, 2021
– Home sales in the Greater Toronto Area (GTA) reached the second-highest level on record for the month of October. However, the inventory of homes for sale did not keep up with demand. The number of new listings was down by approximately one-third compared to October 2020. Market conditions tightened across all major home types compared to last year, and the annual rate of average price growth remained in the double digits, including for the resurgent condominium apartment segment.
“The only sustainable way to address housing affordability in the GTA is to deal with the persistent mismatch between demand and supply. Demand isn’t going away. And that’s why all three levels of government need to focus on supply. The federal government h; ...
Tuesday, November 2, 2021 / by Evelyn Lopes
Homebuyers today are facing a huge dilemma. There simply aren’t enough homes for sale.1
Nationwide, the number of newly listed homes dipped slightly in September, down 1.6% from August. According to the Canadian Real Estate Association, that’s only about 2.1 months of inventory, which is far less than the five to six months that is generally needed to strike a healthy balance between supply and demand.2
Given the limited number of available properties, if you’re a buyer in today’s market, you may need to expand your search to include both new construction and resale homes. But it can feel a little like comparing apples to oranges.
Let’s take a closer look at some of the factors you should take into account when choosing between a new build or an existing home.
How quickly do you want (or need) to move into your next home? Your timeframe can be a determining factor when it comes to choosing between a new build or resale.
New Build/ ...
Tuesday, October 5, 2021 / by Evelyn Lopes
Shut Down Home Intruders With These 7 Safety Strategies
A break and enter occurs every 90 seconds in Canada.1 Fortunately, there are some proven tactics you can use to decrease your likelihood of a home invasion.
Most burglars won’t go to extreme lengths to enter your home. They are looking for easy access with minimal risk. A monitored security system can be an effective deterrent—homes without one are 300% more likely to be burglarized—but it isn’t the only way to protect your property.2 The strategies below can help to maximize your home’s security and minimize your chances of being targeted by intruders.
Thinking about listing your home? We have some additional recommendations for you. Contact us to find out the procedures we use to keep our clients and their property safe and secure during the buying and selling process.
Check Your Doors and Windows
According to insurance company SGI Canada, the most common entry point for a burglar is through ; ...