In the News

  • Globe and Mail | January 3, 2024

    Hoping for Early Spring in a Chilly Housing Market

    Ontario’s real estate market is beginning the New Year with buyers and sellers in a stalemate. Many industry watchers are cautiously optimistic that both sides will find some common ground in early 2024.

    John Lusink, president of Right at Home Realty and says the two camps have conflicting interpretations of the market statistics.

    Buyers pointed to low sales volumes as grounds for negotiating a reduced price; sellers pointed to flat year-over-year prices as a reason to hold firm.

    “The market is stuck,” he says.

    Mr. Lusink says inventory has risen substantially from the very low levels of the two previous years.

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  • Storeys Insiders | December 14, 2023

    An Expert Weighs In On The New Real Estate Regulations

    What the Trust in Real Estate Service Act (TRESA) means to buyers, sellers and real estate professionals.

    On December 1, the province brought in the Trust in Real Estate Service Act (TRESA), updating the rules that govern real estate professionals in Ontario. I won't go through all the changes here: you can check this STOREYS article, or RECO’s new guide to working with an agent for greater detail. In this article, I’ll look at the biggest changes, and what kind of an impact I believe they'll have on buyers, sellers, real estate agents, and the market in general.

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  • Storeys Insiders | November 17, 2023

    What Should Sellers Do In This Market? An Expert Explains

    With skyrocketing costs, it's really no surprise people aren't stepping up to buy, despite the huge selection of properties for sale. So, what can you do as a seller to make it happen? Four things: get the price right, understand the data you’re looking at, learn how long it takes to sell in this market, and (most importantly) work with the right agent.

    If you're a seller in this market, be prepared for a more challenging experience than you would have had earlier in the year. Look closely at current data, work with an agent who's willing to put in the extra work, be willing to negotiate – and be patient.

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  • Storeys Insiders | October 27, 2023

    Expert: In A Buyers’ Market, Buyers Are Frozen On The Sidelines

    A lot of experts are throwing around the term “buyers’ market” these days. Inventory is up an astounding 44% year-over-year and 11% month-over-month, and Right At Home Realty has the highest number of active listings we've seen in a long, long time. Supply is outpacing demand, but today’s buyers probably don't feel like they have much of an advantage.

    Despite the fact that there are way more listings out there, sales have dropped by more than 7% over last year. Affordability and lack of confidence are huge factors: buyers simply aren’t biting.

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  • Storeys Insiders | September 28, 2023

    Expert: Interest Rates Are Putting The Brakes On Buying

    While it's certainly promising that the Bank of Canada held its rate in early September, that doesn't mean we'll be seeing a big difference in buyer confidence this fall. After those last couple of hikes, and with inflation still being higher than it should be, consumers have really put the brakes on buying. It's going to take a lot more than one rate hold to rebuild confidence. In fact, buyers are likely to head back to the sidelines until there's more certainty around interest rates.

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  • Storeys Insiders | August 25, 2023

    ‘We’re In A Holding Pattern:’ An Expert’s Take On Ontario’s Struggling Market

    ​A surprisingly strong housing market and record immigration have delayed the predicted slowdown, but they haven't prevented it. RealServus President John Lusink talks about what the Ontario real estate market holds for buyers, sellers, and agents.

    The short-term global economic outlook remains weak. Inflation has been slow to decline, and with recession concerns, stricter lending standards, and weaker consumer and business confidence, experts predict it will stay above Central Bank targets for most of 2023.

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