Detached housing starts trending higher despite rising prices
The Canada Mortgage and Housing Corporation released its monthly housing starts data for August 2019, reporting the trend reaching 218,998 units, up from the 208,931 in July. The trend is a six month moving average of seasonally adjusted annual rates.
Condo price growth continues to outpace detached home segment
The report looks at the first seven months of 2019 compared to the same period in 2018. Considering transactions in January to the end of July, the median price per square foot of a condo unit in the GTA increased 9.1% year-over-year to $743.
Greater Toronto Area resale market conditions remain tight through the summer
According to the latest report from the Toronto Real Estate Board, the Greater Toronto Area’s resale market remained tight through August 2019.
Will the housing market kick into high gear this fall?
The next time you hear from me, it will be September. Kids will be back in school and families everywhere will consider summer over. Honestly, I’m kind of looking forward to it.
Here’s where home prices have doubled in the City of Toronto in the last 5 years
The Toronto housing market has long had a reputation for being the hottest in the nation – even in the aftermath of provincial and federal policies introduced to cool prices, the city continues to see home values appreciate at a blistering pace.
New single-family home sales soar 136%, but activity remains below long-term average
The Building Industry and Land Development Association's monthly new home report announced there were 566 new single-family home sales in July 2019, which is a 136% year-over-year increase, according to Altus Group.
Have condo rents in the Greater Toronto Area peaked?
Condo rental rates were flat during this time period, averaging between $2,600 and $2,650 a month. Purpose-built rental listings were around $2,000 a month in January 2019 and have since increased more than 7% to $2,133.
Buying a detached home and the importance of patience
I have a confession to make - I’m slightly conflicted about the state of the Greater Toronto Area’s housing market. Is there actually an affordability crisis? Does the mortgage stress test actually need to be adjusted?
Ontarians don’t think municipalities should have greater tax powers
The Ontario Real Estate Association commissioned a study, conducted by Navigator, to better understand the Public Perception Regarding Municipal Government Programs. The online survey included people aged 18+ in Ontario.
Canadian home sales climb for the fifth month in a row
Despite the stress test, Canadian home sales are returning to healthy levels, according to the monthly report from the Canadian Real Estate Association. In July 2019, national home sales increased for the fifth consecutive month.
