Is the Canadian real estate industry too big to fail? Maybe. It just depends on how you define failure. While RBC has said that homes sales in Canada could drop as much as 30% this year, they’ve also said they believe there is a “low risk” of a full market collapse. Similarly, RE/MAX has also […]
Royal LePage is predicting that Toronto area home prices could still rise this year, despite the COVID-19 crisis. In its first-quarter report, released Tuesday, the brokerage says that if the pandemic recedes by the end of second quarter, prices could jump up 1.5 per cent year-over-year, to $856,263 by the end of 2020. However, if […]
Real estate lawyer Mark Weisleder has some pragmatic advice for buyers, sellers and real estate agents facing conundrums around closing deals: “You must find a way to make it work.” The partner with Rea lEstate Lawyers LLP says the fallout from the coronavirus pandemic is leading to all manner of glitches between the time when […]
The Canadian housing market is in turmoil — at least that’s what the stock market is suggesting. Real estate firms like Brookfield Property Partners LP have seen their shares slide by more than 50%. So far, the impact on residential housing is unclear. But early data indicates that private homeowners should be nervous. “The national […]
With open houses now prohibited in many regions amid the COVID-19 pandemic, real estate agents are looking for ways to showcase their properties without putting their clients and potential buyers at risk. Enter the video walkthrough, a feature typically reserved for the sale of luxury homes with generous marketing budgets. But we’re here to tell […]
Virtual tours and video walkthroughs are often used by new home and condo developers to showcase their unbuilt projects to potential homebuyers. Using advanced imaging capabilities and other tech, these tours offer customers an immersive 3D experience with life-like visuals to make them feel like they’re actually there. With sales centres and model homes now […]
On any regular day, jumping through the hoops of closing a real estate transaction can be a handful — there’s paperwork to sign, lawyers to meet with, and mortgage appraisals to be had. Like many other aspects of the Canadian real estate industry, and our daily lives, COVID-19 has thrown the typical process of closing […]
Two of the Toronto region’s foremost authorities on the housing market are readying updates to their 2020 forecasts as the COVID-19 pandemic casts a long shadow on home buying activity and early impacts on purchaser behaviour are becoming increasingly apparent. Altus Group, which tracks sales, pricing and construction in Toronto’s new home market, had projected […]
Data released earlier this month by the Toronto Regional Real Estate Board (TRREB) gave us the first glimpse of the huge blow the COVID-19 pandemic would deliver to the city’s housing market. After a strong showing in the first half of March, Toronto home sales fell 16 percent in the second half of the month […]
While the COVID-19 outbreak is expected to slow spring homebuying activity, many real estate professionals are hopeful that the market will rebound later in the year. The majority of respondents to a survey by the National Association of Realtors said they believed that buyers and sellers would return to the market as delayed transactions after […]
Goldman Sachs’ chief economist predicted that advanced economies would shrink by about 35% in the second quarter of 2020 compared with the first three months. The economist, Jan Hatzius, praised global policymakers’ responses meant to keep households and businesses afloat but said that Europe should do more and that wealthy countries needed to help developing […]
The March, 2020 monthly report from the Toronto Regional Real Estate Board (TRREB) shows continued strength in the Greater Toronto Area (GTA) housing market, along with the initial signs of turbulence due to the COVID-19 pandemic and associated economic challenges. A total of 8,012 home sales were recorded in the GTA in March, 2020, increasing […]
Two months ago, Toronto real estate agents and mortgage brokers were expecting a red-hot market, predicting that home sales and prices would surge back to 2017 heights. Then the COVID-19 pandemic hit, leading to closures, layoffs and an economic downturn – and making two months feel more like two years ago. “It’s like throwing sand […]
Health and economic measures to slow the spread of COVID-19 are in full-effect across the province, and the repercussions on the real estate market in the GTA and the City of Toronto are clearly visible. The issue of a low supply of real estate listings in Toronto is exacerbated as a result of these measures, […]
In a bleak world, Canadians are luckier than most, according to a snapshot of global statistics released this week by the website Worldometer. The stats show that, so far, Canada has fared comparatively well throughout this pandemic, thanks to the fact that the country is organized, its people are disciplined and its health-care system is […]
Earlier this week, the Toronto Real Estate Board released its market report for March 2020, which includes information about property transactions in the GTA. As Covid-19 keeps locals on lockdown and nearly halts the economy, most people are wondering how significantly the virus impacted the real estate landscape. We spoke to Jason Mercer, TREB’s senior […]
The overall picture for home sales activity through the Toronto Regional Real Estate Board (TRREB) in March shows a strong year-over-year sales increase of 12.3 per cent with 8,012 homes changing fingers compared to 7,132 sales the year prior. compare to March 2019 New listings across the region increased just three percent to 14,424 and […]
Generations after the lower stretch of Don River and its mouth into Lake Ontario was straightened and channelized for industry, the mistakes of the past are being corrected. The undoing of what was called the ‘Don Improvement Project’—from a time when environmental issues were not well understood—is part of Waterfront Toronto’s wider redevelopment of Toronto’s […]
Ontario has announced that MPAC assessments have been postponed until 2021. If you’re unfamiliar, MPAC, or the Municipal Property Assessment Corporation, is the non-profit responsible for assessing the value of homes throughout Ontario. They then communicate their values to the local governments so that each municipality can determine the amount of property tax that is […]
As Canada prepares to weather the worst of the COVID-19 pandemic, there are already hopeful signs emerging from China where the novel coronavirus originated months ago. China is maintaining a long streak of reporting no new local COVID-19 infections as its economy is gradually ramping back up after coming to a screeching halt earlier in […]
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