Market Trends
Mike’s Monthly Memo
I cannot believe that it’s December already and that this will be my last memo for 2023. I enjoy contributing these monthly columns and appreciate the opportunity to share my thoughts with you. To say that 2023 has been a challenging ...
Real Estate Market Commentary
The Toronto Regional Real Estate Board (TRREB) has published the sales figures for October. With 4,646 home sales reported, transactions were down 5.8% from last year as affordability and uncertainty around lending rates continue to impact ...
Mike’s Monthly Memo
As we head into the final stretch of 2023, the big story in real estate was the Bank of Canada’s decision to hold its key lending rate at 5%. While they have not ruled out future increases, I’m hopeful that two consecutive announcements...
Mike’s Monthly Memo – May 2023
This morning, TRREB released the sales data for April. The line item that really stands out to me is the new listings. At 11,364, we’re seeing close to 40% fewer listings come to market than we did a year ago. For historical context, this...
Real Estate Market Commentary
The Toronto Regional Real Estate Board (TRREB) has released its sales data for March 2023. With 6,896 home sales reported through the local MLS, transactions were down 36.5% year-over-year. This represents a 27.5% decline when compared to t...
Mike’s Monthly Memo – February 2023
On January 25th, the Bank of Canada (BOC) made its latest rate announcement. The 25-basis point increase was the lowest increase since March. Further good news is that the Governor has said they expect to take a pause on further hikes while...
Mike’s Monthly Memo – November 2022
Anyone that knows me will say that I am an eternal optimist. It really isn’t difficult for me to find the positives in most situations. As it relates to real estate, it should come as no surprise that I remain bullish on the Toronto housi...
Mike’s Monthly Memo – August 2022
What do you do when real estate buyers want deals, and sellers want yesterday’s higher prices? I ask this rhetorically, but this is essentially the challenge of our time right now. It may be more or less of an issue a month from now, but ...