Real Estate in the News

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

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GTA REALTORS® Release Monthly Resale Housing Figures
Toronto Real Estate Board President Mark McLean announced record home sales for the month of July. Greater Toronto Area REALTORS® reported 9,880 sales through TREB’s MLS® System, representing an eight per cent increase compared to July 2014. The number of transactions were up for all major home types, including a double-digit year-over-year increase in condominium apartment sales. Also read “Real estate boards report strong sales activity“.

‘A sour result’ as economy shrank in May, fifth consecutive monthly decline
Some economists still say Canada is not showing the classic signs of being in a recession. But there is concern. Also read “Canada’s economy shrank by 0.2% in May“.

Toronto, Vancouver home prices could plunge 30%, says economist who predicted housing crash that never happened
Will the hot market continue for resale homes in Canada’s two biggest markets, or is this economist, who was wrong about a crash in 2011, right this time? Also read “Liar loans helping to inflate hot housing markets, experts say“.

Will Mortgage Rates Head Higher in 2015?
The guessing game about when interest rates will rise continues. Also read “Toronto Real Estate Vulnerability Comparatively High