GTA Real Estate Market Update: January 2024 The volume of home sales has trended down dramatically since the Bank of Canada started raising the Overnight rate (Prime rate) in March of 2022. But things started to shift at the end of last year. RBC reported that the Toronto-area market woke up from its slumber as 2023 drew to a close. Home resales spiked 21% in December. RBC also made some rate predictions in the same report stating that by the end of this year, they anticipate the... [read more]

People have been calling Canadian real estate’s upward trajectory “unsustainable” for almost a decade now. But if a global pandemic, followed by a recession, followed by more pandemic hasn’t been enough to cool the market, it’s fair to wonder when conditions will change enough to give homebuyers some hope in the face of dwindling inventory and high prices. The market will experience its share of changes next year, but Canada’s severe case of real estate... [read more]

February home sales were down compared to the all-time record in 2021 but represented the second-best result for the month of February in history. New listings dropped, but by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. Competition between buyers, however, remained tight enough to support double-digit price growth year-over-year. Undoubtedly, the recent interest rate increase along with the higher rate of inflation will weaken... [read more]