Near the end of last year I wrote a blog post entitled "What's in store for Toronto real estate in 2019?" Now that we know how things played out, let's revist the 11 factors I listed as headwinds (will slow the market down) or tailwinds (will boost the market). I classified each of them as Known, Likely, or Possible. In this post I'll split them into what I got right, what I got wrong, or somewhere in between. 1) What I got right i)  OSFI B-20 "Stress... [read more]

Here's your Toronto real estate market report for October. It's the seventh month in a row that GTA-wide sales volumes are up by double-digits versus last year > April +16.8% > May +18.9% > June +10.4% > July +24.3% > August +13.4% > September +22.0% > October +14.0% But keep in mind last year's 78,020 sales were the lowest total since 2008. You know we like to dig a little deeper here. Below is what I saw in the October stats. As always, these... [read more]

Here's your Toronto real estate market report for September. It's the sixth month in a row that GTA-wide sales volumes are up by double-digits versus last year > April +16.8% > May +18.9% > June +10.4% > July +24.3% > August +13.4% > September +22.0% But keep in mind last year's 78,020 sales were the lowest total since 2008. You know we like to dig a little deeper here. Below is what I saw in the September stats. As always, these are just selected... [read more]

We all know that the 2016 real estate market in Toronto was hot in terms of price growth. TREB just released its December 2016 Market Watch report today. I'm predicting that one month from now you're going to be reading articles crying "2017 Toronto real estate prices continue to skyrocket!" Here is why. I'll use detached houses to illustrate. [Detached represent 72% of house transactions and 42% of all transactions. As usual, all figures I... [read more]

Since 2018 is just around the corner now, I've been asked a couple of times what I think the Toronto real estate market will look like next year. In short, the year starts out with more headwinds than tailwinds. Known Headwinds <<< First, in case "headwinds" is too jargon-y, a headwind is something that slows the momentum of something (think of an airplane). I've broken these down into known, likely, and potential.  1) OSFI B-20:... [read more]