LARGEST MONTHLY HOME SALES DECLINE SINCE 2010

By
Real Estate Sales Representative with BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE

HOME SALES DECLINE

But It's Not All Bad News ..

The Canadian Real Estate Association reported home sales in June saw their largest monthly decline since 2010. This decline is attributed in part in the Greater Toronto Real Estate market.

Compared to May, transactions in June declined by 6.7% on a national basis. The Greater Toronto Area registered a decline of 15.1%. This is the third month of consecutive monthly decline in home sales.

HOMELast April, changes were made to the Ontario Housing Policy. Experts say this prompted many Buyers to take a step back to reflect how these changes will affect the market,.  This is according to Gregory Klump, Chief Economist for CREA.

The lack of urgency for some buyers has changed their motivation.  This could also have been as a result of the recent increase in interest rates. Some Buyers are coming off the sidelines now before their mortgage pre-approval expires. Now that the market has become more stable, buyers who have already purchased a home  are now finding they need to reduce their asking price to sell their home.

HOME

FAIR HOUSING ACT

The Fair Housing Act was introduced by the Ontario Government earlier this year.  Since this implementation, sales in Canada’s largest city have declined. The act introduced many measures including a 15% tax on foreign buyers .  This was in an effort to try and restore the market to a more stable condition.

Sales in 70% of all local markets assessed by the Canadian Real Estate Association including Lower Mainland B.C., Quebec City and Montreal declined from the previous month. National home sales were down in June 11.4% compared to one year ago.

The national average selling price in June was up 0.4% from one year ago to $504,458. The figure was lower when excluding Vancouver and Toronto, resulting in an average selling price of $394,660.

It's not all bad new thought, a balance market makes it fair for everyone.  Buyers can now have the opportunity to purchase the home they want without competing with 6, 8, or 010 other offers as was the case for a long time.  It also stabilizes the pricing to fair market value which are not inflated creating a false market.

So if you are a Buyer who has been sitting on the fence... I encourage you to get off that fence... and go get that dream home you've been wanting!

 

To look for information on buying or selling real estate, please visit my website:  www.gloriavalvasori.com

For information on Buying Real Estate:   https://www.gloriavalvasori.com/buying

To find information on Selling: https://www.gloriavalvasori.com/selling

Visit my Facebook page:  https://www.facebook.com/streetsvillerealestate

NEED INFORMATION OR HAVE QUESTIONS?  PLEASE MESSAGE ME

 

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Mississauga and Streetsville Real Estate


When you choose me to handle your real estate needs, you choose a real estate professional who cares about you and your family, who listens to your needs and who will put your interests first and foremost. I will work together with you, protecting your interests, to achieve your objectives.

I have been uniting families and homes for more than 31 years.. Let me put my 31+ years of knowledge and experience to work for you when selling or buying your next home.

 

Proud recipient of the Platinum award for outstanding serivce with a rating of 100% voted by my clients!!

A great experience starts with a great agent !

Helping You Make The Right Move since 1987. 

Call me at (905) 896-4622 or direct at (416) 717-6331

 www.mississaugarealestateonline.com    gvalvasori@gmail.com            

              

 

No part of this publication, may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, or electronic methods, without the prior written permission of the publisher.  Copyright © 2018  Gloria Valvasori, all rights reserved.

 

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Topic:
Real Estate Market Trends
Location:
Ontario Peel District Mississauga Mississauga
Tags:
home sales
now is the time to buy
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buyers get off the fence

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Rainmaker
768,871
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

There are always so many reasons for markets to act as they do Gloria Valvasori, ASA BUT in the end there are still sellers and buyers

Jul 19, 2017 06:55 AM #1
Rainmaker
576,879
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

Doug Dawes , you are so right.. That will never change... I've been through many hills and valley's during my 30 years career.... 

Jul 19, 2017 06:57 AM #2
Rainmaker
3,132,182
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Great information...thank you for sharing and have a wonderful day ahead!

Jul 19, 2017 07:13 AM #3
Rainmaker
576,879
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

Kristin Johnston - REALTOR® - thanks you for taking the time to read... You have a wonderful day as well!  

Jul 19, 2017 07:41 AM #4
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Rainmaker
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Gloria Valvasori, Accredited Senior Agent

REAL Experience | REAL Commitment | REAL Results!
Do you know what your home is worth in today's market?
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