Real Estate News

Toronto Home Sales Soar In July

Toronto Home Sales Soar In July

Toronto home sales defied the normal summer slowdown to soar in July, outpacing even June sales levels as buyers are increasingly overcoming tougher mortgage qualification rules and returning to the market. With new listings slow to come onto the market, prices rose in July as demand outpaced supply. Looking forward, larger price increases may be coming for the Greater Toronto Area because the region continues to have an insufficient supply of housing to meet market demand. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Home Sales Rise in June as Supply Remains Tight

Toronto Home Sales Rise in June as Supply Remains Tight

Toronto home sales jumped again in June, nudging prices higher and narrowing affordable options for buyers. Sales increased 10.4 per cent in June compared to the same month a year earlier. The average selling price in the Greater Toronto Area in June was $832,703 - up 3 per cent compared to June 2018. Looking forward, as the Greater Toronto Area continues to grow, in terms of employment, population and overall diversity, I anticipate that price growth in the housing sector will continue. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Home Sales Surge In May

Toronto Home Sales Surge In May

Toronto region home prices climbed last month as sales volumes roared ahead by almost 19 per cent compared with the same month last year. Average home prices climbed to $838,540 in May, up 3.6% compared with a year ago. Looking forward, if we continue to see growth in sales outstrip growth in new listings, price growth will accelerate. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Home Sales Surge In April

Toronto Home Sales Surge In April

Toronto home sales roared ahead in April, climbing almost 17 percent from last year's sluggish sales level. The average sale price for all types of homes climbed 1.9 per cent over last April to $820,148, pushed higher by tighter market conditions. Looking forward, with sales climbing more rapidly than new listings in April this suggests an acceleration in home price growth this year. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Region Home Sales Flat In March

Toronto Region Home Sales Flat In March

Toronto region home sales were flat in March from the same month a year earlier as buyers remained on the sidelines and available inventory fell. The federal government's tougher mortgage stress-test rule is still affecting home buyers' ability to qualify for a mortgage, and is continuing to act as a drag on sales. Looking forward, I anticipate that sales for the balance of 2019 will closely follow 2018 sales levels and sale prices will continue to move moderately higher. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Home Prices Rise In February

Home Prices Rise In February

The average sale price for all types of homes in the Greater Toronto Area in February rose 1.6 per cent year-over-year to an average of $780,397. Home sales fell by 2.4 per cent in February compared with the same month last year. Looking forward, temperatures need to rise for the market to shake off the February blahs. When this happens sellers and buyers will return. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Area Home Prices Predicted To Rise 4 Percent This Year

Toronto Area Home Prices Predicted To Rise 4 Percent This Year

January home sales increased slightly compared to January 2018. Many traditional housing market drivers remain in place to support improved sales in 2019 - a growing population, low unemployment and lower mortgage rates compared to 2018. Looking forward, the average selling price is forecasted to increase 4.2% this year across all housing categories to $820,000. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Home Sales Take Hit In 2018

Toronto Home Sales Take Hit In 2018

The number of homes sold in Toronto and the surrounding area fell in 2018, along with the number of new listings, as homebuyers and sellers adjusted to a new reality of higher borrowing costs and stricter mortgage rules. It is important to note that market conditions were improved in the second half of the year, both from a sales and pricing standpoint. Looking forward, I expect that the home price growth we saw in the second half of the year for all home types will continue with price growth the strongest in the condominium market. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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GTA Home Prices Continue To Rise In November

GTA Home Prices Continue To Rise In November

Toronto area home prices rose last month, up 3.5 per cent in November on a year-over-year basis to an average of $788,345 for all types of homes, driven by a decline in inventory. Detached home prices have stabilized in the Toronto region in recent months, but most of the price growth continues to come from condominiums. Looking forward through 2019, I do not expect a return to double digit price growth though I expect price growth above the rate of inflation and this will continue to be driven by gains in the condominium sector. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Greater Toronto Area Home Sales and Prices Climbed in October

Greater Toronto Area Home Sales and Prices Climbed in October

Housing sales and average sale prices in the Greater Toronto Area rose in October, compared with a year ago. While the detached home market is showing signs of slow improvement, the less expensive housing categories are continuing to drive most of the price increase in the GTA. Looking forward, a strong regional economy and steady population growth will continue to support the demand for housing ownership as we move into 2019. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Area Home Prices Tick Upward In September

Toronto Area Home Prices Tick Upward In September

The Toronto-area housing market continued to make modest year-over-year price gains in September, with the average selling price across all housing types, from detached homes to condos, up 2.9 per cent to $796,786. While higher borrowing costs and tougher mortgage qualification rules have kept sales levels off the record pace in 2016, many households remain positive about home ownership as a quality long-term investment. Looking forward, the real challenge in the housing market, as the Greater Toronto Area population continues to grow, will be supply rather than demand. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Home Prices Rise Against Tighter Supply In August

Home Prices Rise Against Tighter Supply In August

August appears to have cemented the Toronto region's real estate recovery, with average resale home prices up 4.7 per cent year-over-year to $765,270. Inventory of homes available for sale continues to be very low. Looking forward, buyers who are shopping for a home could be faced with higher prices if demand continues to accelerate over the next year, which is expected. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Home Sales And Prices Rise in Toronto Region in July

Home Sales And Prices Rise in Toronto Region in July

In a sign that the Toronto area real estate market is in recovery mode, year-over-year resale home prices and sales rose for a second consecutive month in July. It appears that some people who initially moved to the sidelines due to the psychological impact of the Fair Housing Plan and changes to mortgage lending guidelines have re-entered the market. Looking forward, the higher home sales so far this summer appear to signal a stronger second half of this year that the real estate board and industry executives have been predicting. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Home Prices Inch Up in June

Toronto Home Prices Inch Up in June

Toronto’s housing market is showing signs of stability after enduring a months-long slump in the wake of new mortgage rules and provincial policies designed to cool off rising prices. Both home sales and average prices showed slight year-over-year gains in June. The upward movement is a sign that buyers and sellers are starting to move back into the market however there still isn’t much movement in terms of listings. As we move forward and continue to see improved sales, we are going to see upward pressure on home prices if we don’t see a lot of movement on the inventory front. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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