Real Estate News

Toronto's real estate market has shifted, with February home sales dropping significantly from last year and new listings increasing, granting buyers considerable leverage in negotiations. Amid economic uncertainty and trade tensions with the U.S., now is a strategic moment for potential buyers to capitalize on a market that's ripe with opportunity. […]

Navigate Toronto's Shifting Real Estate Landscape: January Home Sales Dip, Prices Edge Up Amid Lower Interest Rates. Prepare for Spring 2025: Leveraging Lower Borrowing Costs in Uncertain Times. […]

We expect momentum to rise heading into the spring. Further interest rate cuts in 2025 should result in improved conditions over the next 12 months. In addition, the federal government's easier borrowing policies went into effect last month and now allow borrowers to put smaller down payments on homes that cost up to 1.5 million. […]

It was a pretty busy November as Toronto-area unit home sales increased by 40 per cent, prompting tighter market conditions and a modest rise in home prices. The Bank of Canada's final interest rate announcement is scheduled on December 11 and the bank is expected to reduce its benchmark rate again. […]

Greater Toronto Area home sales skyrocketed 44 per cent in October compared with the same month last year. After a sluggish spring and early fall real estate market, it appears that the Bank of Canada's rate cuts are beginning to have an impact. […]

Toronto area home sales increased in September as buyers were starting to take advantage of more affordable market conditions brought about by lower borrowing costs and more inventory. Changes over the past month to mortgage lending guidelines will give home buyers more options. […]

On Wednesday, the Bank of Canada cut its key policy rate by 25 basis points for the third time in a row, shrinking it to 4.25%. With interest rates moving lower and plenty of supply to choose from it is the ideal time for buyers to get a mortgage pre-approval and nail down a deal. […]

Greater Toronto Area home sales in July were higher compared to July 2023 as demand slowly seeps back into the market on anticipation of further rate cuts from the Bank of Canada.  […]

Home sales were lower in June compared to June 2023, with many potential buyers staying on the sidelines despite the highly anticipated Bank of Canada interest rate cut. Moving forward, as sales pick up alongside lower borrowing costs, elevated inventory levels will help mitigate against a quick run-up in selling prices. […]

The Bank of Canada's much anticipated decision to lower its key interest rate could be the sign that many would-be homebuyers have been waiting for to make their move. […]

Many people thought Toronto's housing market was heading for a traditional spring surge but it seems to have hit a standoff instead. […]

Greater Toronto homes sales in March were down 4.5% from last year, but there was enough competition between buyers that the average home price rose moderately year-over-year. Price growth is expected to accelerate during the spring and even more so in the second half of the year, as sales growth catches up with listings growth and sellers’ market conditions start to emerge in many neighbourhoods. […]

We have recently seen a resurgence in sales activity compared to last year as the change in tone from the Bank of Canada has led to demand for homes to heat up across the Greater Toronto Area ahead of the spring real estate market.  The market assumption is that the Bank of Canada has finished raising interest rates. As we move through 2024, an increasing number of buyers will re-enter the market with adjusted housing preferences.  […]

Toronto area home sales soared in January for the second straight month. Homebuyers, who fear a cut to the central bank's key rate will open the floodgates of pent-up demand and send prices skyrocketing all over again, are now speeding up their plans to try to buy before the frenzy while hesitant sellers are waiting to list until they see prices on the upswing. It's created a perfect storm for bidding wars and over-asking price sales. […]

Toronto-area real estate sales fell to a 23-year low in 2023 as higher mortgage rates put home ownership out of reach for many would-be buyers. Relief seems to be on the horizon as borrowing costs are expected to trend lower in 2024. Assuming borrowing costs trend lower this year, look for tighter market conditions to prompt renewed price growth in the months ahead.  […]

High borrowing costs and uncertain economic conditions continued to weigh on the Greater Toronto Area real estate market in November. As mortgage rates trend lower next year and the population continues to grow at a record pace - expect demand to increase relative to supply. This will eventually lead to renewed growth in home prices. We wish you and your loved ones a safe and joyous holiday season. See you in 2024! […]

New listings were up and sales were down in October as high interest rates pushed many first-time home buyers to the sidelines. We do not expect activity to rebound over the remainder of the year, with the Bank of Canada repeatedly saying that it is prepared to raise interest rates above the current five per cent if inflation remains high. We look forward to helping you with your real estate needs! Call us at 416-949-1684 or visit http://www.stevemoranhomes.com  […]

Greater Toronto Area home sales slid 7.1 per cent last month compared with September 2022 as the impact of high borrowing costs and uncertainty surrounding future Bank of Canada decisions contributed to the downward trend in sales. The consensus view is that borrowing costs will remain high until mid-2024, after which they will start to trend lower. I am eager to help you with your real estate needs! Call me at 416-949-1684 or visit http://www.stevemoranhomes.com  […]

Higher borrowing costs and continued uncertainty about the economy resulted in fewer home sales in August compared to August 2022. In the short term, we will likely continue to see some volatility in terms of sales and home prices, as buyers and sellers wait for more certainty on the direction of borrowing costs and the overall economy. I am eager to help you with your real estate needs! Call me at 416-949-1684 or visit http://www.stevemoranhomes.com  […]

The average price of a Toronto home dropped from June to July as the market became more balanced with home sales trending lower and new listings trending higher. The average price for a home in Toronto is now approximately 1.12 million. Over the long term, the demand for ownership housing will remain strong on the back of record population growth. I am eager to help you with your real estate needs! Call me at 416-949-1684 or visit http://www.stevemoranhomes.com […]