TREB Published August, 2019 Resale Market Figures Toronto Real Estate Board (TREB) President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,711 residential sales through TREB’s MLS® System in August, 2019. This result represented a 13.4 per cent increase compared to 6,797 sales reported in August, 2018. On a month-over-month basis, after preliminary seasonal adjustment, sales were up by 0.8 per cent. “GTA-wide sales were up on a year-over-year basis for all major market segments, with annual rates of sales growth strongest for low-rise home types including detached houses. This reflects the fact that demand for
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Category: Toronto Business Posts TREB Published July, 2019 Resale Market Figures
TREB Published July, 2019 Resale Market Figures Toronto Real Estate Board (TREB) announced that Greater Toronto Area REALTORS® reported 8,595 sales through TREB’s MLS® System in July 2019. This result was up by 24.3 per cent compared to July 2018. On a month-over-month basis, sales were up by 5.1 per cent, after preliminary seasonal adjustment. New listings entered into TREB’s MLS® System in July 2019 were up by 3.7 per cent compared to July 2018 and by a much lesser annual rate than sales, With annual growth in sales far outstripping annual growth in new listings, market conditions clearly tightened compared to in
View Article...Category: Toronto Business Posts TREB Published June, 2019 Resale Market Figures
Toronto Real Estate Board (TREB) announced that Greater Toronto Area REALTORS® reported 8,860 sales through TREB’s MLS® System in June 2019, representing a 10.4 per cent increase compared to June 2018. Over the same time period, total new listings remained at a similar level for the month of June, 2019 and active listings at month-end of June, 2019 were down by 5.7 per cent. Sales and new listings statistics for the first half of 2019 compared to first half of 2018 painted a similar story to that of June, 2019. Sales were up by 8.5 per cent, while
View Article...Category: Toronto Business Posts In Toronto stepping up from Renting To Buying A Condo Is Getting Harder
In Toronto stepping up from Renting To Buying A Condo Is Getting Harder Runaway price growth for single-family homes is a thing of the past in Toronto and Vancouver today, thanks to rising interest rates and tougher mortgage rules. But with prices still high, buyers have turned to other options. Or really the one other option that exists in buying the condos. “Trouble is, this stronger demand for condos resulted in sharper price gains and affordability erosion,” Royal Bank of Canada economists Craig Wright and Robert Hogue wrote in their latest affordability report, released on
View Article...Category: Toronto Business Posts Bank of Canada may follow Fed with rate cuts later this year, traders bet
Bank of Canada may follow Fed with rate cuts later this year, traders bet The Bank of Canada is likely to join the U.S. Federal Reserve with an interest rate cut this year to deal with the fallout from rising trade tensions, according to trading in the swaps market. Investors are betting Canadian policy makers will follow an expected U.S. rate cut in September. The chances of a Bank of Canada match at the Oct. 30 meeting jumped above 50 per cent Tuesday, up from about 25 per cent last week, according to data compiled by
View Article...Category: Toronto Business Posts Canadian mortgage rates decreases to the lowest level in 2 years
Canadian mortgage rates decreases to the lowest level in 2 years House prices may be as high as ever in Toronto in June, 2019, but Toronto homebuyers are being offered some of the lowest mortgage rates seen in 2 years as lenders battle to drum up new business. Rates on a standard five-year fixed-rate mortgage have fallen to their lowest level in two years, according to rate comparison website, Ratehub.ca. Borrowers just about everywhere across the country can take their pick of offerings well below three (3) per cent at the moment, says James Laird, the site’s
View Article...Category: Toronto Business Posts Toronto is the fastest growing city in the U.S. and Canada, and that may not be good
Toronto is the fastest growing city in the U.S. and Canada, and that may not be good Torontonians could find themselves “doubling up” on housing with friends or relatives in the incoming years as the city’s breakneck population growth outstrips the supply of new housing, an urban planning expert is warning. In an analysis published online this week, researchers Frank Clayton and Eva Shi of Ryerson University’s Centre for Urban Research and Land Development found that Toronto is the fastest-growing city in the U.S. or Canada, and by a long shot. Toronto added more than
View Article...Category: Toronto Business Posts Canada housing market has become riskier, IMF has warned
Canada’s housing market has become 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
View Article...Category: Toronto Business Posts TREB Published January, 2019 Resale Market Figures
TREB Published 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
View Article...Category: Toronto Business Posts 40% of Canadians are paying no income taxes, Prime Minister Trudeau knows this is right
40% of Canadians are paying no income taxes, Prime Minister Trudeau knows this 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
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