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🔥 Buyers appetite for owning is consistently strong

Updated: Jun 26, 2021

Record home sales in the Greater Toronto Area (GTA) continued in February as buyers remained confident in their employment situations and took advantage of ultra-low borrowing costs. With multiple buyers continuing to compete for many available listings, double-digit annual price growth was the norm throughout the GTA, with stronger rates of growth in the suburbs surrounding the City of Toronto.

“The pandemic has not stunted GTA residents’ appetite for owning a home. Once the economy opens further and immigration into the GTA resumes, there will be an even greater need for housing supply,” said TRREB CEO John DiMichele.

With home prices going up you're probably asking yourself where can I move to and pay under 1M? Download the list of areas that are the most affordable today.

Freehold townhomes less than 750k
Download PDF • 149KB
Detached Homes less than 1Million
Download PDF • 136KB

Your real estate investment is growing at an exponential rate. How long can this last?

To be frank it can last all of 2021. Economics tells us that as long as interest rates are low and supply is low buyer demand will continue to push prices up, demonstrated in the historical data:

If you're looking to buy your first home, you'll want to execute as soon as possible, otherwise, you'll want to save as much as possible to satisfy a downpayment of 20% of the purchase price or consider a pre-construction option where you'll stretch out your 20% downpayment over time and lock in at today's prices.

If you’re considering selling your home or curious about its value, give me a call and I’ll prepare your home valuation. If you’re thinking of buying a new property I’ll share with you current listings in the area of your interest and guide you through the process.

Your Friend in Real Estate,

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