Luxury home sales in Toronto climbed in the first 11 months of 2019 and, with momentum continuing to build in the market as the year winds down, the outlook for 2020 is looking more and more promising. Much like the rest of the city and surrounding region's housing market, luxury real estate took a big dip in market activity in 2018 after a spectacular - though ultimately unsustainable - 2017 performance. This year started slow, but activity has crept higher in recent months led by... [read more]

According to a new survey commissioned by Royal LePage, newcomers represent one in every five homebuyers (21 per cent) in Canada. If the current international migration level is maintained, newcomers are expected to purchase 680,000 homes over the next five years. "In addition to supporting Canada's economic growth, newcomers to Canada are vital to the health of our national real estate market," said Phil Soper, president and CEO of Royal LePage. "The combined demand for... [read more]

The Toronto housing market is poised to nearly reach peaks obtained in 2017, the hottest year on record for residential real estate in Canada's biggest city. This sums up the year-end forecast from TREB. The board anticipates home sales this year will clock in at 83,000 units - surpassing last year's tally - while the average price soars to $820,000, just shy of the all-time high in 2017. "Price increases will be driven by the average condominium apartment price growth in the... [read more]

Slipping sales figures for the Greater Toronto Area appear to be stabilizing, with the latest report from the Toronto Real Estate Board (TREB) showing little year-over-year difference in the volume of local home sales recorded in March, with just one fewer unit sold. Similarly, the 7,187 residential sales recorded last month represent just a 1% drop in sales measured quarterly. Along with flat March and Q1 sales versus the stronger numbers seen in 2018, new listings have delcined in even... [read more]

As Fall draws to a close and the new year approaches, plenty of industry experts are making predictions about what 2019 will have in store for the Canadian housing market. This year saw housing activity take a major plunge, following the introduction of stricter mortgage qualification rules in January. While sales and prices have warmed up since then, there are still several factors that could rein in the market come 2019. Here are some predictions for what the market might look like in... [read more]