GO Back Facebook Twitter LinkedIn Email Toronto has been infamous as one of the least affordable cities in the world. Buying a house in Toronto is always tough, but it might be the time for prices to come down. The cause, however, is going to be a full-on market crash. Why is it so? An…
Blog Category: Finance
GTA Home Prices Continue to Rise in June as Inventory Shortage Hampers Buyers
GO Back Facebook Twitter LinkedIn Email The Greater Toronto Area (GTA) housing market witnessed a surge in home sales during June, driven by strong buyer demand. However, the market faced a significant challenge due to a persistent lack of inventory, creating tight market conditions. This article discusses the latest data released by the Toronto Regional…
Toronto Home Prices Experience Slight Pullback
GO Back Facebook Twitter LinkedIn Email Toronto’s housing market experienced a notable shift as a surprise rate hike by the Bank of Canada in June 2023 had a direct impact on home prices. The Greater Toronto Area (GTA) witnessed its first monthly decline in prices since January 2023. However, despite this pullback, the market still…
Vancouver Home Prices Surge in June Amidst Strong Residential Sales
GO Back Facebook Twitter LinkedIn Email The Real Estate Board of Greater Vancouver has reported a significant increase in home prices and residential sales in June. The limited inventory of homes available for sale in the region has fueled high demand from buyers, resulting in a 1.3% rise in the benchmark price of all home…
Canada’s Resilient Economy Thrives Despite High Interest Rates
GO Back Facebook Twitter LinkedIn Email Despite initial concerns, Canada’s economy is defying expectations and displaying remarkable resilience in the face of soaring interest rates. In response to the country’s robust economic performance, BMO recently revised its GDP growth forecast, predicting an upward trajectory. This article explores Canada’s flourishing economy and analyzes BMO’s insights regarding…
Greater Toronto Area Home Prices Experience Significant Decline Amid Decreased Sales
GO Back Facebook Twitter LinkedIn Email The Greater Toronto Area (GTA) real estate market has witnessed a substantial drop in home prices, with an almost 18% decrease since February of the previous year. The Toronto Regional Real Estate Board (TRREB) reported that the average selling price for February was $1,095,617, showing a modest 5% increase…
Canadian Homeowners Shift from Variable-Rate to Fixed-Rate
GO Back Facebook Twitter LinkedIn Email As interest rates continue to rise in Canada, an increasing number of homeowners are opting for fixed-rate mortgages over variable-rate options. The dwindling popularity of variable mortgages reflects a shifting landscape in borrowing preferences, driven by recent rate hikes and the overall increase in mortgage rates. In this article,…
Canadian Housing Market News May 2023
GO Back Facebook Twitter LinkedIn Email Canada’s housing market is experiencing a robust recovery, characterized by a steady increase in home prices across the country. In May 2023, the average home price in Canada reached $729,044, marking a 2% rise from the previous month and the highest level since April 2022. Notably, Ontario and British…
Canadians Opting for Shorter-Term Mortgages in Hopes of Future Interest Rate Drops
GO Back Facebook Twitter LinkedIn Email As mortgage rates reach their highest levels in over a decade, Canadians are increasingly considering the length of their mortgage term in addition to securing the best rate. With the expectation that interest rates may decrease in the coming years, many homeowners and prospective buyers are opting for shorter…
Canadian Real Estate Market Sees Year-Over-Year Rise in May Home Sales and Prices
GO Back Facebook Twitter LinkedIn Email The Canadian real estate market showed signs of a significant rebound in May, with home sales posting their first year-over-year increase since June 2021 and the average price experiencing its first year-over-year gain in a year. These findings, released by the Canadian Real Estate Association (CREA), indicate a notable…