Pirasha Vygunthavasan’s Post

In February 2024, GTA home sales and new listings increased annually and monthly, with selling prices rising compared to the previous year. The market witnessed a resurgence in sales activity, driven by the belief that the Bank of Canada had finished raising rates. Despite higher borrowing costs, home sales fell short of the February 2021 record. TRREB reported a 17.9% YoY increase in GTA home sales, with new listings showing a greater annual growth rate. Home prices remained similar to February 2023, with a modest 1.1% increase in the average selling price. The market anticipates lower interest rates in the second half of 2024, boosting demand for ownership housing, particularly among first-time buyers. Population growth and efforts to address housing affordability are factors influencing the market outlook. Pirasha Vygunthavasan, ABR, SRS Real Estate Broker 📱647-409-1719 📧realtorpirasha@gmail.com #Remax #MarketWatch #HousingMarket #RealEstate #housingstats #trreb #ontariorealestate #realtorpirasha

🏡 Do you know? Canada's largest housing market saw an ease in home sales, but should it worry you? 📉 Recent statistics from TREB indicate a 5% decrease in sales year-over-year. However, listings are going up month-over-month compared to last year. This means an increase in the demand for homeownership is anticipated this spring. 🔍 Before making a purchase, many prospective home buyers are waiting for the Bank of Canada to begin cutting its policy rate.  Stay informed and make the best decisions—follow us for more such informative updates! 📞Contact us at +1-647-261-8872 for your Real Estate needs! #harvindersinghrealtor #realtor #realestateagent #realstatecanada #marketupdate #remaxrealtor #homeownership #trebupdates

June 2024 saw the GTA housing market experience a 16.4% decline in home sales year-over-year, despite the recent interest rate cut by the Bank of Canada. With 6,213 transactions recorded and cautious buyers awaiting further rate reductions, market dynamics remain in flux. #GTAHousing #RealEstate #MarketTrends #InterestRates #TRREB

The month of April was a month of anticipation.  TREB Summary April 2024 Stats show that the New listings were up by 47.2 percent over the same period. Many homeowners are anticipating an increase in demand for ownership housing as we move through the spring. Home buyers are likely waiting for the Bank of Canada to begin cutting its policy rate before purchasing a home. For now, buyers are benefitting from ample choice in the GTA resale market in April. Lower borrowing costs will prompt tighter market conditions in the months to come, which will result in renewed price growth.

The opening months of the year have been marked by seesaw activity across Canada’s housing market – but signs are emerging that buyers are increasingly ready to step off the sidelines, according to a leading real estate executive. RE/MAX Canada president Christopher Alexander (pictured) told Canadian Mortgage Professional that after an uneven start to 2024, confidence appears to be strengthening around the likelihood of lower interest rates down the line as shoppers resume their homebuying plans. That’s not to say, though, that the spring housing market is set to see a big surge in activity, with many buyers still waiting for the Bank of Canada to reveal a timeline for interest rate cuts.

In June 2024, home sales in the GTA dipped as buyers showed caution despite the recent rate cut by the Bank of Canada. Although the market remains well-supplied, offering buyers significant choice and bargaining power, home sales have declined 16.4% compared to June 2023. 🏠💼 Despite this, the Toronto Regional Real Estate Board remains optimistic. TRREB President Jennifer Pearce said more rate cuts might be needed to spur significant buyer activity. Meanwhile, TRREB's insights suggest a resilient long-term outlook, underlined by strong population growth and ambitious housing goals. 🌱🛠️ Ontario's goal of adding 1.5 million homes by 2031 underscores the importance of reducing red tape and financial barriers to construction. As the market adjusts and borrowing costs potentially lower, the hope is for a balanced market conducive to both buyers and sellers. 🏗️🔑 Let's watch how government action and market dynamics play out to meet the housing needs of our growing population. 🌐 www.TheGoldmarkGroup.com #GTAHousingMarket #RealEstateTrends #HomeSales #MarketInsights #OntarioHousingGoals #TheGoldmarkGroup #eXpRealty #WaterlooRegionRealEstate #GTARealEstate #MississaugaRealEstate #HomeSales #PropertyMarket #HousingMarket #RealEstateInvesting #DreamHome #HouseHunting #InvestmentOpportunity

In June 2024, home sales in the GTA dipped as buyers showed caution despite the recent rate cut by the Bank of Canada. Although the market remains well-supplied, offering buyers significant choice and bargaining power, home sales have declined 16.4% compared to June 2023. 🏠💼 Despite this, the Toronto Regional Real Estate Board remains optimistic. TRREB President Jennifer Pearce said more rate cuts might be needed to spur significant buyer activity. Meanwhile, TRREB's insights suggest a resilient long-term outlook, underlined by strong population growth and ambitious housing goals. 🌱🛠️ Ontario's goal of adding 1.5 million homes by 2031 underscores the importance of reducing red tape and financial barriers to construction. As the market adjusts and borrowing costs potentially lower, the hope is for a balanced market conducive to both buyers and sellers. 🏗️🔑 Let's watch how government action and market dynamics play out to meet the housing needs of our growing population. 🌐 www.TheGoldmarkGroup.com #GTAHousingMarket #RealEstateTrends #HomeSales #MarketInsights #OntarioHousingGoals #TheGoldmarkGroup #eXpRealty #WaterlooRegionRealEstate #GTARealEstate #MississaugaRealEstate #HomeSales #PropertyMarket #HousingMarket #RealEstateInvesting #DreamHome #HouseHunting #InvestmentOpportunity

Financial Post 'Ho-hum' national housing figures in September sign that buyers want more rate cuts National home sales increased marginally in September, following the Bank of Canada’s third interest rate cut of the year. This marked the third consecutive month of gains, as lower borrowing costs provided some added incentive for buyers. However, sales continued to be outpaced by new listings, leading to a surplus of properties on the market.

Why Do Prices Drop When Rates Fall?     When affordability improves it can lead to a drop in home prices due to the economic lag. Most Canadian mortgages are fixed rate so the impact of previous rate hikes is felt during renewals. A rate cut often signals a slowing economy, higher unemployment and reduced earnings, all of which can push home prices down. Today we are seeing a different trend across Canada, in Ontario home prices are declining while Quebec & Alberta are experiencing steady growth.   Check out this video and more on my TikTok!   #BuyWithFaisal #SellWithFaisal #RemaxHustle #WaterlooRegion #SellYeah #SoldByFaisal #HomeShack #Remax #TopBroker #Realtor #WeAreREMAX #BuyingAHome #Homebuyer #RealEstate #RealEstateTips #HousingMarket #HomeBuying #SellingAHome #TopAgent #cambridge #kitchener #Waterloo #Prices 

Greater Toronto Area (GTA) home sales in April decreased by 5% compared to last year, totaling 7,114 sales, while new listings surged by 47.2% to 16,941 properties. Despite the decline in sales, the increased inventory provided buyers with more options and helped maintain stable prices, with the average selling price up by 0.3% year-over-year to $1,156,167. The anticipation of potential rate cuts from the Bank of Canada in June has led to a cautious approach from buyers, with many waiting for lower interest rates before making purchasing decisions. Despite this, experts predict tightened market conditions and renewed price growth by 2025 as borrowing costs decrease. Stay tuned for more updates on Ontario's real estate journey! 📉🏠 #GTAHousing #MarketUpdate #Roregroup