Market Trends
Mike’s Monthly Memo
It is an interesting time in the real estate market. This month, the Bank of Canada (BoC) announced a third straight hold on interest rates, while the Federal Government extended its ban on foreign buyers into 2027. At the same time, demand...
Mike’s Monthly Memo
Happy New Year. I hope that the start of 2024 finds you rested, in a positive mindset, and ready to take on any challenges you’ve set for yourself. Looking back, the year in real estate was not without its own challenges. Certainly, su...
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...