housing market: 70% increase in sale of existing GTA homes in Mid March over same period last year - 03/17/10 08:36 AM
70% increase in sale of existing GTA homes in Mid March over same period last year
TORONTO, MARCH 17, 2010 - Greater Toronto REALTORS® reported 4,353 sales through the Multiple ListingService® (MLS®) during the first two weeks of March. This represented a 70 per cent increase compared to the 2,562 sales recorded during the same period in 2009 when resale transactions had dipped markedly due to the recession.  
To see the detailed report, please visit my blog at www.aceteamrealty.com/blog
 Want to know the Fair Market Value of your Home? Please go to www.MyGTAHomeValue.com for a quick complimentary evaluation.
Manoj Arora, Broker of Record
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housing market: Government of Canada Takes Action to Strengthen Housing Financing - 03/17/10 08:31 AM
Government of Canada Takes Action to Strengthen Housing Financing
On February 16th, The Honourable Jim Flaherty, Minister of Finance, announced a number of measured steps to support the long-term stability of Canada's housing market and continue to encourage home ownership for Canadians.
These adjustments to the mortgage insurance guarantee framework are intended to come into force on April 19, 2010. 
To See all the charts, please click here to visit our blog at: www.AceTeamRealty.com/blog
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housing market: Brampton and Greater Toronto Area Resale Real Estate Market Resilient in 2009 - 01/08/10 03:48 PM
Brampton and Greater Toronto Area Resale Real Estate Market Resilient in 2009
January 6, 2010 -- Greater Toronto REALTORS® reported 87,308 MLS® transactions in 2009 - a 17 per cent increase over 2008. This result included 5,541 sales in December. The 2009 result was in line with the healthy levels of sales experienced between 2004 and 2006, but lower than the record of 93,193 set in 2007.
Please read the complete story and Market Watch Report on my blog at:
www.AceTeamRealty.com/blog
Thinking of selling your Mississauga or Brampton real estate and want to know the market value of your home, log on to www.MyGTAHomeValue.com … (0 comments)

housing market: Growing debt threatens economic stability: BOC - 12/16/09 05:00 AM
Growing debt threatens economic stability: BOC
With household debt-to-income ratios in Canada at historical highs, the Bank of Canada is warning both borrowers and financial institutions to practice caution, particularly when it comes to mortgage lending.
"Financial institutions need to carefully consider the aggregate risk to their entire portfolio of household exposures when evaluating even an insured mortgage, since a household defaulting on an insured mortgage would likely be unable to meet its other debt obligations," the central bank's financial system review said.
On the borrower side, the bank stressed the need for households to "assess their ability to service these … (0 comments)

housing market: Greater Toronto Area Real Estate Home Sales Remain Strong in November - 12/04/09 06:44 AM
Greater Toronto Area Real Estate Home Sales Remain Strong in November
December 3, 2009-- Greater Toronto REALTORS® reported 7,446 sales in November - slightly more than double the November 2008 result when GTA home sales had dipped markedly due to the economic downturn. Year-to-date sales were up 14 per cent compared to the first 11 months of 2008."This year in the GTA home sales will be in line with the healthy levels experienced between 2004 and 2006," said Toronto Real Estate Board President Tom Lebour. "Increased resale home transactions in the Toronto area and country-wide played a key role in pushing the … (0 comments)

housing market: GTA REALTORS® Report August Mid-Month Resale Market Figures - 08/20/09 12:55 PM
TORONTO, August 18, 2009 - In the first two weeks of August, Greater Toronto REALTORS® reported 3,832 sales - up 27 per cent compared to the first two weeks of August 2008. The average price for these transactions was up three per cent year-over-year to $383,796.
Read more details on my blog at www.AceTeamRealty.com/blog
 
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housing market: GTA REALTORS® report resale record in July - 08/06/09 02:33 PM
TORONTO, August 6, 2009 - In July 2009, Greater Toronto REALTORS® reported a record 9,967 sales, up 28 per cent from July 2008. The average price for July transactions was $395,414 - up by six per cent compared to the same month last year. 
"Households confident in their positioning within the current economic environment have taken advantage of housing affordability in the GTA," said TREB President Tom Lebour. "The real estate sector has been one of the sectors making a positive contribution to economic growth in the GTA, not to mention Ontario and Canada more broadly."
Year-to-date sales, at 50,632 are down … (0 comments)

housing market: 3 days on the market and 13 offers registered - 07/28/09 07:40 AM
yes....13 offers were registered till yesterday on a power of sale property in Mississauga which has been on the market for 3 days. Is it the price of the house or the Power of Sale attraction or what?
Real Estate market specially in Mississauga has been very active in the last little while. The properties which were not selling a few months ago, are going within 7-10 days with multiple offers. If you have been thinking of selling your home, now is the time to get in and take advantage of this renewed buyer's frenzy. If you want to know the … (0 comments)

housing market: We will get out of the recession by September this year.... - 07/23/09 07:17 AM
...... says Mark Carney, Governor of the Bank of Canada. Mr. Carney addressed a press conference following the release of the Monetary Policy Report this morning. As per Governor:
The Bank has long expected that economic growth in Canada would resume in the second half of this year and pick up in 2010. Indeed, growth in Canada should resume this quarter. The dynamics of the recovery projected in today's MPR are broadly consistent with the Bank's medium-term outlook in April. Read the complete Report at Bank of Canada Website at:
http://www.bank-banque-canada.ca/en/speeches/2009/state09-6.html
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housing market: GTA REALTORS® report sales up first two weeks of July - 07/20/09 07:02 AM
TORONTO, July 20, 2009 - In the first two weeks of July, Greater Toronto REALTORS® reported 4,437 sales up 27 per cent compared to the first two weeks of July 2008. The average price for these transactions was up four per cent year-over-year to $394,750.
"The resurgence in home ownership demand experienced in the spring has continued into the summer. Home buyers continued to take advantage affordable market conditions in the first half of July," said TREB President Tom Lebour. "If the mid-month results carry forward, we may see the best July on record."
Read the complete report on my website blog … (0 comments)

housing market: GTA Resale Housing Market Posts Best June on Record - 07/09/09 12:01 PM
TORONTO, July 6, 2009 - - In June 2009, Greater Toronto REALTORS® reported a record 10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales in June was 100,700.(1)
"The record result in June is testament to the fundamentally sound housing market in the GTA," said the Toronto Real Estate Board's newly appointed President Tom Lebour. "An increasing number of households have been confident in purchasing a home in the region's affordable and diverse resale housing market."
Read the complete Story on my Website
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housing market: Greater Toronto Resale Housing Sales Up in First Half of May - 05/22/09 02:00 PM
Greater Toronto REALTORS® reported 4,561 transactions in the first half of May - an increase of three per cent compared to May 2008.
"Members reported a rise in buying activity this month," said TREB President Maureen O'Neill. "Many home buyers who were undecided about purchasing a home during the winter months are now proceeding with confidence as a result of the GTA housing market's affordability."
The average price for MLS® sales was in line with last year, down by less than one-half of one per cent at $399,811. "More sales and fewer listings resulted in tighter market conditions which pushed the … (0 comments)

housing market: March Resale Housing Results Bring Positive News - 04/16/09 01:33 PM
In March 2009, Greater Toronto REALTORS® reported 6,171 sales - down seven per cent from March 2008, representing the smallest year-over-year decline in the last five months. The average price for March transactions was $362,052 - down less than five per cent from the same month last year.
"The Greater Toronto housing market has stood up very well given the challenging economic times the world has experienced in recent months," commented TREB President Maureen O'Neill. "In fact, over the past two months, the situation in the housing market has improved."
The seasonally-adjusted annual rate of sales increased to 65,600 in March … (0 comments)

housing market: Rental Transactions Increase - 02/11/09 05:18 AM
Between September 1, 2008 and December 31, 2008, Toronto Real Estate Board (TREB) Members reported 3,433 rented condominium apartments and townhouses in the Greater Toronto Area.
This represented a 30 per cent increase over the 2,635 transactions recorded during the same time frame in 2007. A good part of this increase likely came from rental listings in newly completed condominium apartment buildings containing investor-owned units.
"The increasing strength of the rental market combined with low interest rates and reasonable home prices mean that now could be an excellent time to purchase an investment property," said Maureen O'Neill, President, Toronto Real Estate … (0 comments)

housing market: 2,670 Resale Housing Transactions in GTA in January - 02/11/09 05:11 AM
Greater Toronto REALTORS® reported 2,670 sales in January compared to 5,075 in the first month of 2008. "Demand for existing homes in the Greater Toronto Area moderated as the housing market followed the broader economic slowdown in Canada," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.
The average home price in the Greater Toronto Area was $343,632, compared to $374,449 last January. The median price was $303,000 compared to $319,000 last year. "Current selling prices are a reflection of more choice in the existing home marketplace," said Mercer. "At the same time, low mortgage rates have … (0 comments)

housing market: 2,500 GTA Housing Resales in December, 74,000 in 2008 - 01/20/09 12:42 PM
Toronto Real Estate Board Members reported 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006, TREB President Maureen O'Neill announced today. "Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during 2006."
The average price in December of 2008 came in at $361,415, compared to $394,931 in 2007, and $336,217 in December of 2006. For 2008 as a whole, prices averaged $379,347, compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006.
The … (0 comments)

housing market: Over 3,600 Greater Toronto Area Resale Housing Sales in November - 12/04/08 01:56 PM
TORONTO, December 04, 2008 -- Greater Toronto REALTORS® recorded 3,640 transactions last month, from 7,313 sales in November 2007, Toronto Real Estate Board President Maureen O'Neill announced today. Year-to-date sales figures for the Greater Toronto Area show 72,086 transactions in 2008, from 88,695 sales recorded in the same January to November period a year ago. By contrast, the 2008 year-to-date average price in the GTA is $379,489, from $375,445 in 2007. "Its important for the public to understand that while sales activity has moderated in 2008, due to current economic conditions, the average price of homes has increased from 2006 still … (0 comments)

housing market: Threat of global recession to hinder home sales in major Canadian housing markets in 2008 and 2009, says RE/MAX - 12/03/08 07:05 AM
Recovery linked to economic stability next year
Global economic uncertainty weighed heavily on residential real estate activity in most major Canadian centres during the latter half of 2008.  Although the forecast for 2009 promises more of the same, most markets are expected to weather the storm, says RE/MAX. 
Housing market performance will clearly be contingent on economic performance at a local, provincial, and national level in 2009.  Issues affecting the overall economy are impacting housing markets across the country and the situation is not expected to be remedied until consumer confidence is restored.   If inventory levels remain stable, pent-up demand kicks … (0 comments)

housing market: Changing GTA Resale Housing Market Reflects Economic Times - 10/25/08 03:53 AM
October 17, 2008 -- Activity in the Greater Toronto Area resale housing market moderated considerably during the first half of October with 2,700 homes changing hands, Toronto Real Estate Board President Maureen O'Neill announced today.
Sales volumes in the GTA decreased 18 per cent compared to the first half of October 2007, when 3,297 transactions were recorded and are down 10 per cent compared to the same period in 2006 when 3,007 sales took place.
In the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21per cent decline from the 1,446 sales … (0 comments)

housing market: Greater Toronto Area Resale Housing Moderate in September - 09/18/08 04:54 AM
September 17, 2008 -- The Greater Toronto Area's autumn resale housing market began with moderate activity, Toronto Real Estate Board President Maureen O'Neill announced today.
With 2,726 sales during the first half of this month, activity has declined 16 per cent from the 3,236 recorded during same time period a year ago. Compared to the 2,913 transactions recorded during the first half of September 2006, activity has declined six per cent.
In the City of Toronto, 998 sales were recorded, which represents a 23 per cent decline from the 1,297 transactions recorded in the first half of September 2007 and an … (0 comments)