The volume metrics I was optimistic about have regressed pretty substantially. Even more surprising is that price seems to show some surprising resilience against the volume challenges in the market right now. I think this is a good thing, but I'm reluctant to give it too much credit right now as it seems to be evolving as a selection bias. Selection Bias in York Region House Price Growth The easiest way to visualize this is by evaluating the price rebound we've seen is to try to... [read more]

  The Canadian... [read more]

HOME PRICES UP 2.3% IN JUNE In June, the Teranet–National Bank National Composite House Price Index™ was up 2.3% from the previous month, the largest June increase since the Index began in 1999. Prices were up in 10 of the 11 metropolitan markets surveyed. Gains exceeded that of the countrywide index in six markets: Victoria (4.4%), Halifax (3.7%), Toronto (3.3%), Vancouver (2.6%), Ottawa-Gatineau (2.6%) and Hamilton (2.4%). Though less than the countrywide... [read more]

It's interesting to see the demand for homes for sale in Georgina and York Region that has resulted, consequence to the following article. Via BNN Millennials need to adjust their expectations when it comes to living in single-family homes, according to Toronto’s chief city planner. “The reality is not everyone can live in a ground-oriented, single-family home. It’s simply not possible,” Jennifer Keesmaat told BNN in an interview. “There’s not... [read more]

Toronto’s housing market churned out another record-breaking month in July. Almost 10,000 homes changed hands in the Greater Toronto Area, the highest recorded number for the month of July, the Toronto Real Estate Board reported. Average resale prices jumped 16.6 per cent to $709,825, with the cost of detached homes soaring 21 per cent from the same period last year, to $952,983. The market also continued to experience what the board called “a troubling trend in the... [read more]