At the risk of sounding melodramatic, I honestly believe that bidding wars are among the greatest economic inefficiencies ever produced by the real estate market. In 2017, we saw a pretty wild market, with real-time price discovery being the greatest challenge of buyers, sellers, and realtors alike. As a result, we saw the arbitrary underpricing of properties that led to even more arbitrary firm offers being submitted. Ultimately, this created risk for buyers, sellers, and lenders as we... [read more]

It seems like we've pretty progressively found a temporary new normal, with little change in most major metrics. The big one to watch for now is going to be price, which could be gradually dragged down by excess supply. In the microeconomic outlook, it appears we're already seeing opportunism propping up the market on a transactional basis, as we've bounced off fundamentals without rebounding from suppressed capitalization rates we saw in the past few years. It seems like... [read more]

Toronto's real estate market smashes July sales record   Jessy Bains August 6, 2020, 2:32 p.m.     (REUTERS/Mark Blinch) The Greater Toronto Area’s housing market seems almost immune to the crippling economic effects of COVID-19 right now. July was a record-breaking month, with 11,081 homes sold, according to new data from the Toronto Regional Real Estate Board (TRREB).... [read more]