Toronto: Experts predict a return to normal GTA housing prices and Toronto facing undersupply of new homes.
Elsewhere: Canadian housing prices show signs of stabilizing, millennials discuss why they can't afford homes and bringing solar power to apartment dwellers.
The slowdown in the Toronto region’s housing market that began last year continued through the first half of 2018, but two big industry players suggest that buyers and sellers are ready to shake off the malaise with a return to normal later this year.
Soper said recent headwinds for housing prices in the Toronto area will eventually be mopped up by the current undersupply of new homes, as Ontario’s population continues to grow and in-migration levels reach their highest in more than 10 years. The province saw a net gain in migration over the first quarter of 2018, a nearly 50 per cent increase from the year earlier.
The top-tier housing markets in Toronto and Vancouver are headed in opposite directions, with fear driving Vancouver's market lower even as optimism returns to Toronto's market, according to Sotheby's International Realty Canada.
Canada housing prices show signs of stabilizing, reports suggest (The Globe and Mail)
“Does this mean that the Canadian home resale market is about to enter into a new frenzy? No. June’s rise in the index, impressive at first sight, was in fact weak for this time of the year .... apart from seasonal patterns, the index merely stabilized lately,” Marc Pinsonneault, economist at National Bank, wrote in a research note.
'Recycled' Listings Mean Canada's Housing Market Data May Be Misleading (Huffington Post)
This practice distorts the data about the housing market. It makes it seem as if houses are selling quickly, when they're not. And it makes it seem as if houses aren't seeing price cuts, when they are. In other words, it's obscuring the reality of Vancouver's housing correction.
Canadian homebuyers are influenced by fear of missing out, perceived impact of foreign investor activity and expectations of future price growth according to a new Housing Market Insight (HMI) report released by Canada Mortgage and Housing Corporation (CMHC).
A new report from CIBC Economics highlights the two kinds of savings – active and passive. Active savings is putting money away, while passive savings occurs when assets you own rise in value. For the past 20 years, passive savings have ruled in Canada.
More New York homeowners have tapped into solar power in recent years, as regulations have eased and prices have dropped. But apartment dwellers, for the most part, have been kept in the dark.
The Netherlands Plans To Build World's First Habitable 3D-Printed Concrete Homes (Huffington Post)
July 13, 2018This Week In Real Estate |