TREB Published March, 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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Category: Toronto News Posts TREB Published March, 2019 Resale Market Figures
TREB Published 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
View Article...Category: Toronto News Posts TREB Published February, 2019 Resale Market Figures
TREB Published 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 for federally insured mortgages.
View Article...Category: Toronto News Posts Protect Yourself Against Fraudulent Income Tax Return
Protect Yourself Against Fraudulent Income Tax Return For Canadian income tax payers Canadian income taxpayers should be vigilant when they receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA) requesting personal information such as a social insurance number, credit card number, bank account number, or passport number. These scams may insist that this personal information is needed so that the taxpayer can receive a refund or a benefit payment. Cases of fraudulent communication could also involve threatening or coercive language to scare individuals
View Article...Category: Toronto News 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 News 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
View Article...Category: Toronto News Posts Toronto area home sales declined to 10-year low in 2018 and number of listings down
Toronto area home sales declined to 10-year low in 2018 and number of listings down. 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
View Article...Category: Toronto News Posts TREB Published December, 2018 Resale Market Figures
TREB Published 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
View Article...Category: Toronto News Posts Toronto Detached Home Prices Down $200,000 From June, 2017
Toronto’s detached home is having another rough month. Numbers from the Toronto Real Estate Board( TREB) has been demonstrated that purchaser indecision and substantial downward pressure to the detached home segment in July, 2017. Generally speaking, detached homes across TREB market area demonstrated lower prices, less sales, and more inventory. Prices Down Up To $205,000 From June, 2017 Detached home prices remain in positive field, but there are indication of big declines. The benchmark price, the price of a typical detached house, fell to $963,900 across TREB, a 6.16% reduction from the month before. This price is still
View Article...Category: Toronto News Posts Home sales in Toronto declined in June, 2017
Home sales in the Greater Toronto Area went down 37.3 per cent in June, 2017 compared with a year ago, Toronto real estate board mentioned Thursday as purchasers moved to the sidelines following the introduction of regulations that are targeted at cooling down Toronto real estate market. The Toronto Real Estate Board mentioned 7,974 houses changed hands in June, 2017, while the number of new listings on the market climbed 15.9 per cent year-over-year to 19,614. The average price for all properties was $793,915, up 6.3 per cent from the same month last year, but down 8.1 per cent
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