In the News

  • The Globe and Mail | June 5, 2024

    Housing market’s signs of life give buyers pause for thought ahead of BoC policy meeting

    The long-delayed spring real estate market in Toronto saw sparks of life in late May as some buyers attempted to get in ahead of a potential summer revival.

    Pritesh Parekh, real estate agent with Century 21 Legacy Ltd., says the largest cadre of buyers remained in wait-and-see mode leading up to the Bank of Canada’s policy meeting this week.

    He saw traffic slowing down on his listings as the rate announcement drew closer.

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  • Storeys Insiders | May 22, 2024

    Canada’s Housing Plan: Exploring An Insider’s Perspective

    Ultimately, the success of Canada’s Housing Plan will depend on how the changes are implemented, how well they align with provincial and municipal efforts already in the works – and how the market responds.

    April saw a very big federal announcement around tackling the housing supply and affordability crisis: the highly ambitious (and very long-awaited) Canada Housing Plan. By now, we've all had time to absorb what the feds have in store, with lots of experts weighing in on the “hits” and “misses” of this massive housing strategy.

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  • Storeys Insiders | April 18, 2024

    Why Is The Toronto Real Estate Market So Resilient? An Expert Explains

    High interest rates. Budget-crushing inflation. A tough employment market. The GTA has certainly faced its fair share of obstacles over the last couple of years, and yet… the city's real estate market just keeps on swimming.

    Despite economic uncertainty, the GTA market – and really, the Canadian market overall – has shown remarkable resilience. So while home prices did decline with the interest rate hikes in the last couple of years, they didn't actually decline all that much, even when buyers all but disappeared.

    If you look at the last few months, property prices have come bouncing up again, with a trajectory that could quickly bring us back to where we were before the Bank of Canada started raising rates.

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  • BNN Bloomberg | April, 2024

    How will the Bank of Canada’s interest rate decision impact real estate?

    Real estate experts say many potential homebuyers are waiting for rate cuts before entering the real estate market following the Bank of Canada’s latest decision to hold rates, but demand remains high for some properties.

    Victor Tran, mortgage and real estate expert at Ratesdotca, said in a statement to BNNBloomberg.ca Wednesday that the housing market “continues to be in a holding pattern” characterized by tight supply and “stiff competition for desirable properties.”

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  • Storeys Insiders | March 21, 2024

    Expert: Market Uncertainty Means Turbulent Times Ahead

    Understanding the volatility of the Ontario real estate market means wrapping our heads around the many contributing factors impacting supply, demand, and, frankly, the opportunity to afford it all.

    For years, the market has been characterized by dizzying highs and stomach-churning lows. From skyrocketing interest rates to band-aid government policies, the volatility has left many prospective buyers, sellers, and investors feeling apprehensive and uncertain.

    Right now, it looks like we’re in an upward trend again. Sales and new listings are up as we head into a spring market, and buyer confidence has grown with the repeated Bank of Canada rate holds — and the possibility of drops in the coming months.

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  • Global News | March 13, 2024

    Navigating Toronto’s condo market this spring? Here’s what to expect

    Following a year of uncertainty, fuelled primarily by aggressive rate hikes, buyers who had previously hesitated on the sidelines are now shifting their expectations for their potential purchases and the prospect of decreasing interest rates is instilling confidence among them.

    Spring is definitely in the air as more units are being listed for sale, showings are increasing and condo sales are up 7.2 per cent from a year ago, according to the latest TRREB data.

    According to Right at Home Realty president John Lusink, the stir in activity can be linked to the exceptionally warm weather Toronto’s been experiencing recently.

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