There have been a bunch of recent stories in the media about how we're now in a buyer's market. I just did a Google search for "Toronto buyer's market" in news, and voila: The year 2016 A.D. will go down as a hot year for Toronto real estate. Year-end average house prices in the 416 were up 22% over the previous December, which was the second highest gain in the last two decades (behind 29% in 2007). Average condo prices were up 16%, the third highest... [read more]

With 2019 almost upon us, I thought I'd share my thoughts on what I think the Toronto real estate market will look like next year. I've already shared some thoughts in this BNN Bloomberg article, but obviously I can go deeper here. Just as I concluded in my "What's in store for 2018?" (which I think played out pretty accurately), the year starts out with more headwinds than tailwinds. I'll use a similar format to last year, where I break down the headwinds and... [read more]

Every month recently has been a lot different than the prior. In February things were hot. March was a tale of two halves, with the first half continuing hot, and then the brakes coming on in the second half after all three levels of government started implementing COVID-19 measures. Then April was one long month of riding the brakes, with 2,975 GTA sales representing the lowest April in the last 25 years (as far back as TRREB supplies monthly numbers for). May was a bit of bounceback... [read more]

Every month recently has been a lot different than the prior. In February things were hot. March was a tale of two halves, with the first half continuing hot, and then the brakes coming on in the second half after all three levels of government started implementing COVID-19 measures. Then April was one long month of riding the brakes, with 2,975 GTA sales representing the lowest April in the last 25 years (as far back as TRREB supplies monthly numbers for). May was the start... [read more]

A real split is developing in the freehold versus condo markets. We've seen them act differently before (which is why I run separate charts), but it's getting pretty extreme now. This year has been such a wild ride. In February things were hot. March was a tale of two halves, with the onset of COVID-19 mesures. Then April was one long month of riding the brakes, followed by the start of recovering in May and June as listings rose (as did sales). And then the... [read more]