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Category: Housing Market (51 posts)

New Home Sales in GTA Heat up Again in June: BILD

New Home Sales in GTA Heat up Again in June: BILD

July 30, 2020 | Posted by: Maurice Kwok

Following two months of “historically slow” sales as a direct result of the COVID-19 pandemic, new home sales are starting to surge again in the Greater Toronto Area (GTA). In fact, durin ... [read more]

House prices bounced up 6.5% in June compared to last year, CREA says

House prices bounced up 6.5% in June compared to last year, CREA says

July 17, 2020 | Posted by: Maurice Kwok

Canada's housing market showed signs of recuperation from COVID-19 last month, with prices and sales numbers well up from where they were a year earlier. The Canadian Real Estate Association said Wed ... [read more]

Six offers for Toronto home despite stiff competition

Six offers for Toronto home despite stiff competition

July 9, 2020 | Posted by: Maurice Kwok

285 Brookdale Ave., Toronto Asking price: $1,095,000 Selling price: $1,425,000 Previous selling prices: $1,370,000 (2017); $960,250 (2014); $328,000 (2001); $269,200 (1995) Taxes:&n ... [read more]

Toronto real estate buyers turn to the suburbs as more people work from home

Toronto real estate buyers turn to the suburbs as more people work from home

July 8, 2020 | Posted by: Maurice Kwok

Torontonians are increasingly heading to the suburbs and further afield, driving up sales in Niagara, St. Catharines, Burlington and Hamilton, as they search for more space after months of being coope ... [read more]

Toronto home sales rebound in June as market shrugs off coronavirus slowdown

Toronto home sales rebound in June as market shrugs off coronavirus slowdown

July 7, 2020 | Posted by: Maurice Kwok

Toronto home sales rebounded in June, with the average selling price up 12 per cent over the past year, as competition heated up after a brief slowdown from the coronavirus pandemic. Once again, ... [read more]

Pandemic accelerates sale plans for Toronto condo

Pandemic accelerates sale plans for Toronto condo

June 29, 2020 | Posted by: Maurice Kwok

85 Bloor St. E., No. 1503, Toronto Asking price: $469,000 Selling price: $580,000 Previous selling prices: $389,000 (2016); $332,500 (2011); $203,260 (2006) Taxes: $2,090 (2019) Days on the ... [read more]

Inside a 5-Bed Riverdale Home That Just Went for $500k Over Asking

Inside a 5-Bed Riverdale Home That Just Went for $500k Over Asking

June 26, 2020 | Posted by: Maurice Kwok

This 5-bed detached home at 63 Withrow Avenue in North Riverdale just went for $500,000 over asking after being on the market for just two days. Besides being just steps from one ... [read more]

Canadian home sales and new listings on the rise in May

Canadian home sales and new listings on the rise in May

June 15, 2020 | Posted by: Maurice Kwok

OTTAWA, ON, June 15, 2020 /CNW/ - Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and new listings were up noticeably in May 2020  ... [read more]

‘Serious’ buyers make two bids for Bloor West house

‘Serious’ buyers make two bids for Bloor West house

June 8, 2020 | Posted by: Maurice Kwok

571 Windermere Ave., Toronto Asking price: $1,399,000 Selling price: $1,701,000 Previous selling price: $306,000 (1998) Taxes: $5,760 (2019) Days on the market: Two List ... [read more]

Signs of life in Toronto housing as sales surge 53% from April

Signs of life in Toronto housing as sales surge 53% from April

June 3, 2020 | Posted by: Maurice Kwok

Activity in Canada’s largest housing market warmed up in May after going into a deep freeze at the onset of the COVID-19 pandemic, and the local real estate board says the momentum should contin ... [read more]

Pandemic puts downward pressure on residential rents

Pandemic puts downward pressure on residential rents

May 25, 2020 | Posted by: Maurice Kwok

As the COVID-19 pandemic dampens tenant demand, there are mounting signs that residential rent inflation is slowing, particularly in urban markets that have been racked by affordability concerns for y ... [read more]

CMHC predicts house prices could drop up to 18 per cent

CMHC predicts house prices could drop up to 18 per cent

May 22, 2020 | Posted by: Maurice Kwok

Canada’s national housing agency is predicting home prices could plummet up to 18 per cent and mortgage arrears could soar to 20 per cent, a forecast some economists and real estate experts say ... [read more]

Canadian home sales sank 57% in April as COVID-19 pandemic hammered market

Canadian home sales sank 57% in April as COVID-19 pandemic hammered market

May 20, 2020 | Posted by: Maurice Kwok

Canadian home sales tanked and price dipped in April over the previous month, marking the weakest activity since 1984 as the coronavirus pandemic slammed the housing market. Last month, 16,612 homes ... [read more]

Home sales hammered by stay-at-home measures in Toronto, Vancouver, Calgary

Home sales hammered by stay-at-home measures in Toronto, Vancouver, Calgary

May 5, 2020 | Posted by: Maurice Kwok

Home sales in Vancouver, Calgary and Toronto plunged in April, according to local real estate boards, as the COVID-19 pandemic closed businesses and led to mass layoffs across the country. In the Van ... [read more]

Greater Toronto Area home sales down 69% midway through April due to COVID-19

Greater Toronto Area home sales down 69% midway through April due to COVID-19

April 23, 2020 | Posted by: Maurice Kwok

TORONTO – The Toronto Regional Real Estate Board says home sales were down 69 per cent in the first 17 days of April compared with a year ago as the COVID-19 outbreak put a chill on ma ... [read more]

Canadian home sales dropped 14 per cent in March as COVID-19 crisis shuts down economy

Canadian home sales dropped 14 per cent in March as COVID-19 crisis shuts down economy

April 15, 2020 | Posted by: Maurice Kwok

Home sales across Canada dropped 14 per cent in March, over the previous month, as the coronavirus pandemic shutdown work and thousands of Canadians lost their jobs. Last month, 41,151 homes were sol ... [read more]

CMHC says housing vulnerability moderate, downgrades risk in Prairie cities to low

CMHC says housing vulnerability moderate, downgrades risk in Prairie cities to low

February 20, 2020 | Posted by: Maurice Kwok

Canada Mortgage and Housing Corp. (CMHC) says it has downgraded the vulnerability of several cities in the Prairies while Canada’s housing market remains moderately vulnerable. The federal hous ... [read more]

Housing shortage in Ontario drives up home prices

Housing shortage in Ontario drives up home prices

February 14, 2020 | Posted by: Maurice Kwok

A housing shortage in Southern and Eastern Ontario is driving up home prices, and there is no relief in sight. The benchmark price of a typical home sold in January rose 8 per cent to $840,900 in the ... [read more]

Pace of Canadian housing starts beats expectations in January

Pace of Canadian housing starts beats expectations in January

February 12, 2020 | Posted by: Maurice Kwok

The pace of housing starts climbed in January from a month earlier on gains in Ontario and Quebec while starts declined in Western Canada, according to Canada Mortgage and Housing Corp. The federal h ... [read more]

Offer for Etobicoke townhouse tops asking price by 20 per cent

Offer for Etobicoke townhouse tops asking price by 20 per cent

February 8, 2020 | Posted by: Maurice Kwok

542D Scarlett Rd., Toronto Asking price: $799,000 Selling price: $973,000 (+21.8%) Previous selling prices: $433,000 (2003); $325,325 (2000) Taxes: $4,466 (2018) Days on the ... [read more]

Toronto home sales headed for strong year as population grows, rates stay low, forecast says

Toronto home sales headed for strong year as population grows, rates stay low, forecast says

February 6, 2020 | Posted by: Maurice Kwok

Toronto's housing market is in for a robust year, the area's real estate board said in a new forecast, as the population grows and interest rates remain low. The Toronto Regional Real Estate Board pr ... [read more]

Is Real Estate Growing or Declining in Toronto?

Is Real Estate Growing or Declining in Toronto?

February 3, 2020 | Posted by: Maurice Kwok

Toronto, Canada’s largest city, has been notorious over the years from being the country’s most expensive real estate market, in close competition with Vancouver. But with Canada’s s ... [read more]

Buyer pays 30 per cent above asking price to nab King West loft

Buyer pays 30 per cent above asking price to nab King West loft

February 1, 2020 | Posted by: Maurice Kwok

954 King St. W., No. 326, Toronto Asking price: $498,000 Selling price: $646,100 Previous selling price: $124,330 (2000) Taxes: $2,161 (2018) Days on the market: 11 List ... [read more]

Tight Toronto housing market pushes prices to record highs with biggest gains in three years

Tight Toronto housing market pushes prices to record highs with biggest gains in three years

January 8, 2020 | Posted by: Maurice Kwok

Home sales dropped in Toronto in December, but prices continued to rise as demand outstripped a dwindling supply of units available for purchase. The number of homes sold in Canada’s largest ci ... [read more]

Toronto Home Prices Expected to Skyrocket in 2020

Toronto Home Prices Expected to Skyrocket in 2020

January 2, 2020 | Posted by: Maurice Kwok

After a rocky few years of declining home prices and sales amidst goverment cooling measures, Toronto's real estate market heated up with a vengeance over the latter half of 2019. The Toron ... [read more]

The mortgage stress test is making housing supply issues worse — and making homes even more unaffordable

The mortgage stress test is making housing supply issues worse — and making homes even more unaffordable

December 11, 2019 | Posted by: Maurice Kwok

Canada is experiencing sustained economic and population growth. Millennials and new Canadians are forming households and their desire for home ownership is very strong. Interest rates are low. In thi ... [read more]

Toronto’s rental housing problem: Too many people in too little space

Toronto’s rental housing problem: Too many people in too little space

December 2, 2019 | Posted by: Maurice Kwok

The Toronto region has the highest proportion of renter households in Canada that don’t have enough room for all their occupants, a sign the city’s continuing rental crisis is forcing some ... [read more]

Toronto Home Prices To Rise By 6 Per Cent In 2020: Report

Toronto Home Prices To Rise By 6 Per Cent In 2020: Report

November 28, 2019 | Posted by: Maurice Kwok

A new report from Re/Max forecasts that home prices in the City of Toronto will rise by 6 per cent in the coming year. The increase will make the average cost of a resale approximately $812 ... [read more]

Record population growth has huge housing impact  Market Trends Affordable Housing

Record population growth has huge housing impact Market Trends Affordable Housing

November 26, 2019 | Posted by: Maurice Kwok

Canada’s population grew by 531,000 from August 2018 to July 2019 – the largest 12-month increase in our history according to Statistics Canada. That growth is having an enormous impa ... [read more]

Canada’s rental costs rising, adding to affordability woes

Canada’s rental costs rising, adding to affordability woes

November 21, 2019 | Posted by: Maurice Kwok

Canada’s rental costs increased 0.8 per cent in October from a month ago, and by 2.5 per cent since January, according to figures released by Statistics Canada on Wednesday. In January, the sta ... [read more]

Canadian home sales rise 12.9 per cent in October from a year ago: CREA

Canadian home sales rise 12.9 per cent in October from a year ago: CREA

November 15, 2019 | Posted by: Maurice Kwok

The Canadian Real Estate Association says the number of home sales was up 12.9 per cent nationally in October compared with the same month last year. It says sales activity last month was almost the ... [read more]

Homes in Canada are getting more affordable, but it isn’t likely to last

Homes in Canada are getting more affordable, but it isn’t likely to last

November 12, 2019 | Posted by: Maurice Kwok

Canadian home affordability has steadily improved this year thanks in large part to a decline in mortgage rates and rising incomes, but conditions remain “difficult” in Toronto and Vancouv ... [read more]

Toronto, Hamilton housing markets less risky, CMHC says

Toronto, Hamilton housing markets less risky, CMHC says

November 7, 2019 | Posted by: Maurice Kwok

The housing markets in Toronto and Hamilton have become less overvalued and no longer have a high degree of risk, Canada’s federal housing agency says. The Canada Mortgage and Housing Corp. dow ... [read more]

3 Canadian housing market trends to look out for in 2020

3 Canadian housing market trends to look out for in 2020

November 6, 2019 | Posted by: Maurice Kwok

The floodgates have officially opened for Canadian housing market forecasts for the next year. We’ve already heard that interest rates will likely sink lower in 2020 as the housi ... [read more]

Toronto, Vancouver home sales on the rise with double-digit increases in October 2019

Toronto, Vancouver home sales on the rise with double-digit increases in October 2019

November 5, 2019 | Posted by: Maurice Kwok

Home sales in Vancouver and Toronto had double-digit increases in October over the previous year, and prices in Toronto jumped as well, as the country’s most expensive markets continued their re ... [read more]

Rental buildings making a comeback as housing crunch pushes demand, returns

Rental buildings making a comeback as housing crunch pushes demand, returns

November 4, 2019 | Posted by: Maurice Kwok

Matthew Boukall remembers a couple of years back at a conference in Calgary, where someone got confused over the difference between condo and rental apartment builds. “People had only seen cond ... [read more]

‘The housing sector is clearly on the rebound’: What Bank of Canada expects in next two years

‘The housing sector is clearly on the rebound’: What Bank of Canada expects in next two years

November 2, 2019 | Posted by: Maurice Kwok

The Bank of Canada is keeping a wary eye on the housing and mortgage markets, though it has seen nothing bubbly of late. Still, the central bank said this week that, after all the government measures ... [read more]

CMHC: Housing Activity Expected to Recover in 2020

CMHC: Housing Activity Expected to Recover in 2020

October 25, 2019 | Posted by: Maurice Kwok

Explore the forecasts for 2020 – 2021 and learn more about the overall economic and demographic conditions, housing starts and home sales. Find out how housing activity is expected to recover i ... [read more]

CMHC forecasts a recovery in Canada’s housing market after two years of declines

CMHC forecasts a recovery in Canada’s housing market after two years of declines

October 24, 2019 | Posted by: Maurice Kwok

Canada’s federal housing agency expects the housing market to recover in the next two years after declines in home building, sales and prices. Canada Mortgage and Housing Corp. said in its annu ... [read more]

Rebound continues as home sales jump across Canada amid affordability concerns

Rebound continues as home sales jump across Canada amid affordability concerns

October 17, 2019 | Posted by: Maurice Kwok

Canada’s home sales jumped 15.5 per cent in September compared with last year, with rising activity and record prices in Toronto and its surrounding suburbs adding to affordability concerns that ... [read more]

Home sales in September up 15.5 per cent from year ago: CREA

Home sales in September up 15.5 per cent from year ago: CREA

October 15, 2019 | Posted by: Maurice Kwok

Ottawa, ON, October 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up slightly in September 2019. Highlights: National ... [read more]

Toronto is now the world's second most overvalued property market: UBS

Toronto is now the world's second most overvalued property market: UBS

October 10, 2019 | Posted by: Maurice Kwok

Toronto has emerged as the world’s second most overvalued housing market on the back of low rates and supply shortages, according to UBS AG’s annual global real estate bubble index. Vanco ... [read more]

Canadian housing starts fell 2.5 per cent in September but less than expected

Canadian housing starts fell 2.5 per cent in September but less than expected

October 8, 2019 | Posted by: Maurice Kwok

The pace of Canadian housing starts slowed in September compared with August, but still came in better than expected. Canada Mortgage and Housing Corp. said Tuesday the seasonally adjusted annual rat ... [read more]

Toronto, Vancouver home sales surge as Canada’s most expensive cities move into recovery mode

Toronto, Vancouver home sales surge as Canada’s most expensive cities move into recovery mode

October 3, 2019 | Posted by: Maurice Kwok

Home sales rose sharply in Toronto and Vancouver last month as Canada’s most expensive cities continued to move strongly into recovery mode after a long slump. Sales of all home types climbed b ... [read more]

Vancouver housing sales surge as prices continue to drop

Vancouver housing sales surge as prices continue to drop

October 2, 2019 | Posted by: Maurice Kwok

Greater Vancouver housing sales surged after prices dropped to their lowest level since the spring of 2017. The Real Estate Board of Greater Vancouver said on Wednesday that there were 2,333 sales in ... [read more]

Canadian Home Sales Have ‘Room To Run’ In 2020, CREA Predicts

Canadian Home Sales Have ‘Room To Run’ In 2020, CREA Predicts

September 30, 2019 | Posted by: Maurice Kwok

Home sales rose Canada-wide for the sixth straight month in August, leading one of the country’s largest real estate industry groups to increase its 2019 sales forecast on the back of ... [read more]

Where Could a Median-Income Household Afford Real Estate in Canada?

Where Could a Median-Income Household Afford Real Estate in Canada?

September 27, 2019 | Posted by: Maurice Kwok

Housing affordability has long been a hot-button issue across Canada and will take centre stage in the upcoming October Federal Election as a top priority for voters. However, given the vast geographi ... [read more]

Canadian home prices rise for fourth straight month in August

Canadian home prices rise for fourth straight month in August

September 19, 2019 | Posted by: Maurice Kwok

Canadian home prices rose for the fourth consecutive month in August, while the annual increase in prices picked up for the first time in nine months, data on Thursday showed. The Teranet-National Ba ... [read more]

Detached-housing market is breaking out of two-year sales slump in Toronto-area suburbs

Detached-housing market is breaking out of two-year sales slump in Toronto-area suburbs

September 9, 2019 | Posted by: Maurice Kwok

Sales of detached houses in the suburban 905 region outside Toronto are leaping higher after a two-year slump, posting gains of 20 per cent or more in every month since April. When home sales began ... [read more]

Big bank releases housing trends for 2017

Big bank releases housing trends for 2017

January 31, 2017 | Posted by: Maurice Kwok

Five takeaways from RBC’s national housing health report.(1) Sellers’ markets Nation-wide, sales-to-new listings ratios climbed to the point of favouring sellers in 2016 and sales tre ... [read more]

Canadian Housing Statistics

Canadian Housing Statistics

March 26, 2015 | Posted by: Maurice Kwok

CMHC annual reports and monthly updates contain current and historical data on housing in Canada — new construction, new home prices and sales, rental statistics and the demographics of housing ... [read more]

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Maurice Kwok
Maurice Kwok, MBA CPA MA
Toronto, Mortgage Broker

Treating Your Mortgage as Mine!