Sales Commentary Sales on the Toronto Regional Real Estate Board in June were 6474 units. This was the lowest sales month in 18 months (not counting December). The question is: when will we reach the bottom? Trying to predict the top or the bottom of any market is difficult. The best one can do is follow the trends and watch for a reversal. You can always find the top after the fact – ...Read More

      Sales Commentary Everyone wants to know when we reach the top and the bottom of a real estate market. The reality is that you only know these points after the fact. About a month later. For the public, it is all about prices but for the real estate industry we also focus on the volume of sales as an indicator too. Sales in May on TRREB were down 38% from May a yea...Read More

  Sales Commentary Let us hope no one was waiting for the Spring market! April sales at 8,000 units were 27% lower than in March. To gain perspective, the March to April decline in 2021 was 13%. The importance is that sales in March will be the peak month for both 2021 and 2022. Also, we are now forecasting year-end sales will be down about 22% from 2021 in the ninety thousand range. Pr...Read More

Sales Commentary Looking at March numbers is like looking in the rear-view mirror. Sales at 11,000 units were down 30% from March a year ago which was the biggest sales month in 2021. Our guess is that March this year will be the biggest sales month of 2022. Everyone wants to know what will happen for the balance of the year. As you recall, we forecast a market ‘pause’ for April b...Read More

Sales Commentary February sales on TRREB followed the trend from January. At 9097 sales, this was 17% lower than for January of 2021. Another way to look at these numbers is that the sales jump from January to February due to seasonality was 61% in 2022 compared to 58% in 2021. In other words, we are tracking in line to last year. Yes, sales are lower, but so are new listings for the month and ...Read More

Sales Commentary January sales on TRREB were down 18% from January a year ago, this was not unexpected. New listings were also down by 16%, but more importantly the number of ‘active’ listings (what you can buy) was down by 44% from last year. This number represents just over a half-month’s supply. Still January sales were the second best on record. Besides comparing the sa...Read More

iew Larger ImagePANDEMIC ACCELERATED VALUE OF HOME OWNERSHIP AT LUXURY PRICE POINTS TO NEW HEIGHTS IN MAJOR CANADIAN CENTRES IN 2021 Demand for Canadian luxury real estate shifted into high-gear from coast to coast in 2021 as both domestic and non-resident consumption of tangible assets, such as homes, reached new levels, according to a report released today by RE/MAX Canada. “...Read More

  WHAT FACTORS WILL IMPACT THE MARKET IN 2022?   Mortgage Rates will be higher. Our forecast is that variable rates will be still at 2% by year end and fixed rates will be 3%. Buyers still have to qualify at 5.25% so these changes will have a minimal impact.   Inflation is baked into the cost of new housing as it will be higher by 10+% in 2022. This will also impact the resal...Read More

  SALES COMMENTARY October sales at 9783 units were 8% higher than in September. While October sales were 7% lower than in 2020, they are still well above the long-term average of 8,000 units. While sales have been slowing from the start of the year, our forecast is that sales will run at elevated levels into the spring market (maybe not at 2021 numbers because this will be a record sales...Read More

  SALES COMMENTARY For successful buyers and sellers, September was an excellent month. Sales on TRREB were at 9,046 units, the third highest mark for this month, although down 18% from September a year ago. More importantly, sales in September were 5% higher than August. This is the first month over month sales increase since the peak in March. Since then, we have had five straight months...Read More