As the Toronto Real Estate Board reported, GTA home sales went down, but bidding wars over under-supplied inventory resulted in prices surging year-over-year in January 2014. TREB adds that home ownership in the GTA remains affordable and many people are looking to purchase a home despite increasing prices.
If you’ve always dreamt about spending your retirement years somewhere in a Caribbean, now is the time to re-examine your thoughts, as Canada ranked 5th in a list of the best countries in the world to grow old in.
Every year after a Holiday period with friends and family, I start my year with a trip to New York for Real Estate Connect and REBarCamp New York. These 4 or 5 days of spending time with the brightest minds in my business bring me back to the Toronto spring market stimulated and full of ideas.
The new year always gives us an opportunity to evaluate the previous 12 months but also to look at what lies ahead. I've looked into my own proverbial crystal ball to tell you what I expect (or wish) to happen in Toronto real estate in 2014.
The GTA housing market rebounded in the second half of 2013 after a cooldown that hit the market in summer 2012. The trend of growing sales and robust prices also continued in December 2013, driven by low interest rates and a shortage of low-rise inventory as well as a rush of buyers wanting to make use of their pre-approved mortgages.