Real Estate Roundup February 11th 2011

John Pasalis in Toronto Real Estate News


New Home Prices and Starts are up

Housing starts were up in January but according to TD Economics the numbers confirm that homebuilding is slowing down.  Scotiabank economists Derek Hold and Gorica Djeric had this to say about the numbers:

"This reaffirms our view that the Canadian housing market -- which led the country out of the recession -- will moderate through 2011, acting as a drag on the economy."

Homebuilding Activity Remained Steady in January -PDF (TD Economomics)

Canada housing starts edge up, urban markets dip (Reuters)

Toronto building permits soar (Toronto Star)

Building permits rebound in December (Globe and Mail)

Housing prices keep edging up (Toronto Star)

December new home prices hit record high (Reuters)

New home prices softer than expected (Financial Post)

New home prices still rising ... barely (CBC)


RBC Forecasts Modest House Price Appreciation

A recent RBC Economics report is forecasting that home prices in Ontario will rise a modest .5% in both 2011 and 2012.  According to the report interest rates are expected to rise as early as this spring but any negative effects from rising rates will be offset by a stronger Canadian economy in 2011.

Canadian home resale market outlook: moderation,moderation, moderation - PDF (RBC)

Housing market will be stable next two years: RBC (Globe and Mail)

Housing market to be more stable: RBC (CBC)


Mortgage Rates on the Rise

The interest rate for a five year mortgage rose .25% this week.

Mortgage rates on the upswing (Globe and Mail)

Rising mortgage rates are worse than you think (Globe and Mail)


Other Real Estate News

Worst mistakes first-time home buyers make (Globe and Mail)

Mystery European buys ‘the Castle’ home for $17.5-million (Globe and Mail)

House prices see annual gains of 6.8% over past 10 years: survey (Globe and Mail)

Housing market gets sunnier outlook (Toronto Star)

Frenzied home market cools, but prices staying up for now (Toronto Star)

Canadian home prices are on the rise—but just barely (Macleans)

The CEO Poll: Good call on mortgage rules (Canadian Business)

CREA: housing drop will be less severe (Mortgage Broker News)

Why can’t economists predict disruptive events? (Financial Times)

John Pasalis is the Broker Owner of Realosophy Realty Inc in Toronto. Realosophy focuses on researching Toronto neighbourhoods to help their clients make smarter real estate decisions. Email John

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