Market Recovery Remains Gradual in September

The 12-month rolling sales total shows that the recovery in sales activity has been gradual. At 79,302 homes, the annual rate of sales has increased by only 2.4% since reaching its bottom in May 2018. Activity remained 31% below its peak of 115, 620 sales in April 2017 and also 12%below the 10-year average rate of 90,564 sales. In fact, the last time annual sales were below 80,000 homes was during the economic recession period in 2009. Against the backdrop of a strong local economy and fast-growing population, pent-up demand for housing purchases is accumulating in the GTA as the market rebalances following the excessive growth last year and new mortgage rules this year.

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Holiday Travel Tips for Your Home

The festive holidays are approaching, and calendars are already filling up. Whether you’re staying with family around the country or taking an extended leave to escape the winter, you may be planning to leave your home vacant for more than a day or two. To ward against coming home to the wrong kind of holiday surprise, here’s what to do before you depart. Cheap Wi-Fi cameras Security equipment might sound high-tech and expensive, but securing your home against potential intrusion doesn’t cost much. For around $30, you should be able to outfit your home with WIFI cameras which are home assistant compatible. Shut the main water off Remember to shut off the main water supply if you plan to be away from your home for more than a day. In the event of a plumbing failure, your home could fall prey to serious water damage. Install smart water sensors in your basement Installing a smart water sensor in your basement can easily save a lot of money and worry. Some models will alert you to leaks a...

GTA REALTORS® Release November 2024 Stats

Greater Toronto Area (GTA) home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year. “As we approach the end of 2024, I am pleased to report an improvement in housing market conditions. Many home buyers patiently waited on the sidelines for reduced inflation and lower borrowing costs. With selling prices remaining well off their historic peak and monthly mortgage payments trending lower, the stage is set for an accelerating market recovery in 2025,” said Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce. GTA REALTORS® reported 5,875 home sales through TRREB’s MLS® System in November 2024 – up by 40.1 per cent compared to 4,194 sales reported in November 2023...

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