Posted on Feb 15, 2022 in Market Report
January sales on TRREB were down 18% from January a year ago, this was not unexpected. New listings were also down by 16%, but more importantly the number of ‘active’ listings (what you can buy) was down by 44% from last year. This number represents just over a half-month’s supply. Still January sales were the second best on record...Posted on Jan 05, 2022 in Market Report
Mortgage Rates will be higher. Our forecast is that variable rates will be still at 2% by year end and fixed rates will be 3%. Buyers still have to qualify at 5.25% so these changes will have a minimal impact..png)
Inflation is baked into the cost of new housing as it will be higher by 10+% in 2022. This will a...Posted on Dec 03, 2021 in Market Report
October sales at 9783 units were 8% higher than in September. While October sales were 7% lower than in 2020, they are still well above the long-term average of 8,000 units. While sales have been slowing from the start of the year, our forecast is that sales will run at elevated levels into the spring market (maybe not at 2021 numbe...Posted on Nov 03, 2021 in Market Report
For successful buyers and sellers, September was an excellent month. Sales on TRREB were at 9,046 units, the third highest mark for this month, although down 18% from September a year ago. More importantly, sales in September were 5% higher than August. This is the first month over month sales increase since the peak in March. Since...Posted on Sep 17, 2021 in Market Report
AFFORDABILITY in housing and not sale numbers has taken over the real estate discussion for most people with the politicians jumping on board. For 2021 year-to-date, the number of sales under $600,00 was 13,049 units or 15% of total sales on TRREB. In 2020 to the end of August, the numbers were 13,437 and 23%. While the drop-in unit...Posted on Aug 18, 2021 in Market Report
As we previously forecasted, sales in July continued to slow from the previous month. TRREB reported 9390 sales, down 15% from July of last year and 15% from June. On the other hand, July sales were the biggest since 2016 for the month. Looking forward, we expect August sales to be even lower than July. The true test of sales activi...