Where We Are At - the GTA Real Estate Market in February 2019

Dated: 02/08/2019

Views: 149

News outlets usually don’t focus on the big picture because for industry insiders, that’s old news. So I will take this opportunity to share not just the monthly stats, but also the decennial (love that word) stats.
 
The Monthly Stats:
 
  • The Toronto Real Estate Board (TREB) published the numbers for January this week, and we saw moderate growth in pretty much all housing categories and regions, both year over year, and month over month.
  • For the balance of 2019, TREB forecasts a moderate increase in the number of transactions that will occur, and a slight increase in price growth.
  • TREB, along with Banks and Mortgage industry lobbyists, suggest that Federal government-imposed “stress tests” that banks are now forced to use to qualify home buyers for mortgages has negatively impacted affordability. They are pressuring the government to amend the mortgage qualification process to make financing more accessible to everyone. Cick here for more info.
  • The rental market in the GTA is expected to remain tight, with low vacancies driving up rental prices.
For a more detailed summary of TREB’s January 2019 report, here is a link to the press release that summarizes it quite nicely.
 
The Decennial Stats:
 
It’s my job to study those monthly numbers for my clients. These trends impact how to price a new listing and how to negotiate for a buyer. However, as an Owner, Buyer, or Seller looking at a mid-or-longterm property investment, it’s important to focus on the big picture. Here is a chart showing the last 24 years in local real estate.
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Susan Taylor

Selling homes since 2006, I thrive on the game of real estate! Whether it’s negotiating the sale of your property, helping your family find your dream home, or working with you as a property invest....

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