Real Estate
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Teranet: Expect Loss of Real Estate Momentum in Toronto, Ottawa, and Montreal

Posted on 25 April 2020

Canada’s largest land registry operator saw Canadian real estate prices moving higher. The Teranet–National Bank of Canada House Price Index (HPI) shows prices increased in March. Analysts from the creator of the index warned the pandemic is likely to have an abrupt shift soon. As the lockdown carries on, they expect the index to cool in almost every market – especially those in East ...

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Toronto real estate sales plunge as virus weighs on market: Realtor

Posted on 25 April 2020

Canada’s largest real estate market “hit the brakes” in the last full week of March as sales plunged and sellers pulled listings in the face of the COVID-19 crisis, according to a Toronto-based realtor. What had been a gradual softening in Greater Toronto Area sales after a strong February turned decidedly negative last week, with sales down 37 per cent compared to the same period ...

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Toronto home sales take a dive in April, prices remain steady

Posted on 25 April 2020

Due to the coronavirus pandemic and social distancing measures, Toronto's typically strong housing market has seen a drop in sales and the slightest drop in prices. Home sales declined by a 69 per cent in early April compared with the same period last year, according to the Toronto Regional Real Estate Board (TRREB). New listings also declined, falling to 63.7 per cent compa ...

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Local real estate market sees drop in home buying interest

Posted on 17 April 2020

While several industries have taken a hit with the pandemic, the real estate market is seeing a decrease in home-buying interest both locally and nationally.  In Guelph, while sales activity and new listings have increased for the month of March compared to previous years, active listings and the months of inventory have dropped.  “Naturally in terms of buyers basically a ...

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Canadian real estate markets hit hard by pandemic

Posted on 17 April 2020

Vancouver real estate agent David Hutchinson pulls out some bright blue medical gloves and tugs them onto his hands before entering a condo that's coming onto the market. "It's uncharted territory, a completely different ballgame, and we're learning everything on the go," he said as he got his cellphone ready to do a virtual showing from the empty unit. Welcome to selling re ...

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Royal LePage Releases Canadian Market Survey Forecast

Posted on 17 April 2020

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 suggested the odds of the country’s real estate bubble being burst are low. And now it ...

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“We saw a major shift”: How did Covid-19 impact the real estate market? We asked TREB’s senior analyst

Posted on 17 April 2020

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 market analyst, about how Co ...

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Toronto Home Prices Drop for the First Time in Two Years

Posted on 11 April 2020

Nearly one month into the Ford government implementing state of emergency measures in Ontario, there is no question that everything from local home sales to progress on new developments in Toronto’s real estate industry are going to take a hit — whether only temporarily or long-term still remains uncertain. While the first few weeks of March saw regular activity in Toronto’s housing mar ...

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Toronto realtors are selling through the pandemic

Posted on 11 April 2020

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 on the fire,” says Meray Mansour, a Toronto-based ...

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LEVY: Is Toronto's real estate market a bubble poised to burst?

Posted on 11 April 2020

Less than a month ago, we were receiving a steady stream of real estate flyers in our door, proclaiming that homes in the neighbourhood and well beyond had sold for up to 115% of the listing price. Then the COVID-19 pandemic hit Toronto with a vengeance. The flyers have disappeared — as have real estate signs — during what is supposed to be a peak selling season. One could say the Tor ...