TREB Released April, 2019 Resale Market Figures TREB Released April, 2019 Resale Market Figures

  TREB Released April, 2019 Resale Market Figures   TREB announced that the Greater Toronto Area REALTORS® reported a substantial year-over-year increase in home sales in April 2019. The number of residential transactions jumped by 16.8 per cent to 9,042 compared to 7,744 in April 2018. On a preliminary seasonally adjusted basis, sales were up 11.3 per cent compared to March 2019.   New listings were also up year-over-year by eight per cent. However, the annual growth rate for new listings was much lower than that reported number for sales. This suggests that market conditions continued to tighten which points

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Toronto housing slowdown reasons Bank of Canada showed Toronto housing slowdown reasons Bank of Canada showed

  Toronto housing slowdown reasons Bank of Canada showed   The Bank of Canada found the prices of the housing market went up way out of affordability range for buyers. The Bank estimated. that between 2015 and 2018, the rising cost of home ownership would have lowered annual home sales nationwide by a hefty 56,000 if the “housing bubble” effect was not present in the market.   The Bank estimated that Only a fraction of that — 10,000 sales — would have been due to the mortgage stress test, All the rest would have been due to rising prices and

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TREB Released March, 2019 Resale Market Figures TREB Released March, 2019 Resale Market Figures

  TREB Released March, 2019 Resale Market Figures   Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 7,187 residential sales through TREB’s MLS® System in March 2019. This result was close to 7,188 sales reported in March 2018. For the first quarter of 2019, sales were down by one per cent (1%) compared to Q1 2018.   The ‘OSFI stress test’ has an impact as to home buyers’ ability to qualify for a mortgage. TREB is still arguing that the stress test provisions and mortgage lending guidelines generally, including allowable amortization periods for insured mortgages, should be

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TREB Released February, 2019 Resale Market Figures TREB Released February, 2019 Resale Market Figures

  TREB Released February, 2019 Resale Market Figures   Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 5,025 homes sold through TREB’s MLS® System in February 2019. This sales total was down by 2.4 per cent on a year-over-year basis. Sales were also down compared to January 2019 following preliminary seasonal adjustment.   “The OSFI mandated mortgage stress test has left some buyers on the sidelines who have struggled to qualify for the type of home they want to buy. The stress test should be reviewed and consideration should be given to bringing back 30 year amortizations

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Canada housing market has grown riskier, IMF has reported Canada housing market has grown riskier, IMF has reported

  Canada’s housing market has grown riskier over the past two years, with risk levels similar to those seen during the financial crisis a decade ago, the International Monetary Fund (IMF) said in a report released this week.   But there is good news: The measures Canadian policymakers have taken over the past several years — particularly foreign buyers’ taxes and tough new mortgage rules — are the right ones to prevent a debt crisis, the report suggested..   In its latest Global Financial Stability Report, the Washington-based agency dedicated to global financial co-operation said the U.S. and Canadian housing

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TREB Released January, 2019 Resale Market Figures TREB Released January, 2019 Resale Market Figures

  TREB Released January, 2019 Resale Market Figures   Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 per cent compared to December, 2018. “It is encouraging to see the slight increase in January transactions on a year-over-year basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line

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40% of Canadians don’t pay income taxes, Prime Minister Trudeau is right 40% of Canadians don’t pay income taxes, Prime Minister Trudeau is right

  40% of Canadians don’t pay income taxes, Prime Minister Justin Trudeau is right   The top 20 per cent is likely paying 70 per cent or more of all income taxes   Trudeau was speaking the complete truth when it comes to income taxes (HST, realty taxes and other consumption taxes are another story). It is just a truth that he may not want many Canadians to know.   On average, two of every five Canadian households do not pay anything towards federally and provincially funded expenses such as health care, education, community and social services, national defence, public

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Toronto area home sales down to 10-year low in 2018 and number of listings dip Toronto area home sales down to 10-year low in 2018 and number of listings dip

  Toronto area home sales down to 10-year low in 2018 and number of listings dip.   Home sales in Toronto and the surrounding GTA area fell to a 10-year low in 2018, as the number of new listings coming to the market declined and home buyers and sellers faced with a new reality of higher interest rates and stricter mortgage rules including mortgage stress tests.   The Toronto Real Estate Board (TREB) says there were 77,426 residential transactions recorded through its Multiple Listing Service (MLS) system in 2018, down 16.1 per cent from 92,263 sales in 2017. The last time sales were lower than this

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TREB Released December, 2018 Resale Market Figures TREB Released December, 2018 Resale Market Figures

    TREB Released December, 2018 Resale Market Figures   Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported a total of 77,426 residential transactions through TREB’s MLS® System in 2018.  This result represented a 16.1 per cent decline compared to 92,263 sales reported in 2017.  Total new listings entered into TREB’s MLS® System were down by 12.7 per cent over the same period to 155,823.   The overall average selling price for 2018 transactions, at $787,300, was down by 4.3 per cent year-over-year for all home types combined across the TREB market area.   Home prices were

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