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 […]
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 […]
When the province deemed real estate an essential service due to the coronavirus, it was recommended that realtors stop doing open houses. Realtor Colleen Koehler said that when Ontario Premier Doug Ford kiboshed gatherings of five or more, that essentially put an end to open houses altogether. Koehler, head of the Kitchener-Waterloo Association of Realtors, […]
The booming Greater Toronto Area has again taken top spot on the North American Crane Index, with the region hosting an astounding 27 per cent of the cranes counted in 14 of the continent’s largest and most active urban markets. The Q1 2020 report, compiled by international construction services firm Rider Levett Bucknall, presents a […]
Toronto-Dominion Bank’s CEO has expressed confidence that the domestic financial system and household purchasing power will regain valuable lost ground once the coronavirus threat recedes. Speaking to BNN Bloomberg earlier this week, Bharat Masrani stated that the rate of recovery in the post-outbreak environment will heavily depend on how fast things get back to normal. […]
With Ontario announcing the shut down of the industrial construction industry in the province on Friday, and alongside with it, many residential construction projects as well, pre-construction buyers suddenly have a few questions on their mind. Until April 2, all construction was considered an essential business and allowed to stay open after the province ordered […]
Aside from replenishing the national inventory, building new homes might also play a vital role in bringing the US economy back to health once the COVID-19 outbreak is contained. The National Association of Home Builders reported that building 1,000 average single-family homes creates 2,900 full-time jobs and generates approximately $110 million in taxes and fees, […]
The latest home sale figures released by the Toronto Regional Real Estate Board (TRREB) revealed a “clear break” in market activity in the GTA between the periods before and after the COVID-19 pandemic hit Ontario. According to TRREB, the overall March sales result was driven by the first two weeks of the month, which saw […]
Speaking from Queen’s Park on Friday afternoon, Ontario Premier Doug Ford announced a halt to all residential construction in the province. As of 11:59 p.m. on April 4, the only projects allowed to continue will be those single-family, semi-detached and townhouse properties which have secured either footing or above-grade structural permits. Renovations to residential properties […]
On April 1, Attom Data Solutions released its February 2020 U.S. Foreclosure Market Report. As the U.S. housing market was cruising along at breakneck speed prior to the COVID-19 virus landing on American shores, the numbers were predictably immaculate: only 48,004 properties in the nation had recorded foreclosure filings in February. It was the lowest […]
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