Real Estate in the News

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Real estate news stories that we’ve been following this week.

Canada’s economy shrank 0.1% in January –
Canada’s gross domestic product (GDP) shrank slightly, 0.1%, which is better than expected, and may signify another Bank of Canada rate reduction soon.

No market crash until… –
Today’s housing market is “priced to perfection” says Jeff Baryshnik, president of Republic Funds. Low interest rates are saving Canadians on their mortgages and there isn’t a “housing price correction” anticipated until interest rates rise to the 4%-5% range. Also read “Key Canadian market sees more sales declines“.

Housing market softening everywhere but Toronto and Vancouver, BMO says –
Home prices on the rise in Toronto and Vancouver are the exception not the rule and leads analysts to view the current market as “softening”. Also see “Interactive map of housing prices across Canada.

Toronto home buyers can expect more listings as spring thaw hits –
Hunting for a home? Springtime usually brings an increase of listings and this spring will be no exception, as realtors across Toronto anticipate a surge in homes hitting the market.