Real Estate in the News

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Lower interest rates may be the new normal, Stephen Poloz says
Among the reasons, Poloz pointed to the more-pessimistic outlook for potential long-term global growth. The forecast was lowered to 3.2 per cent from four per cent, he said. “That downgrade means the neutral rate of interest will be lower for sure — for a very long time,” said Poloz, who added it could go even lower if economic “headwinds” continue.

Housing prospects for millennials in Canadian markets
Currently, around 76 per cent of renting individuals aged 18 to 34 are expecting to buy their own homes within the next 5 years, according to the Bank’s 2016 Millennial Home Buyer Report.

May 3rd Tops This Year’s Real Estate Calendar as the Most Profitable Day to List Your Home in the GTA
Data collected between 2012 and 2015 reveals that even with the spike in premiums during peak season, the most highly priced homes on average are not selling in the City of Toronto. According to the data, homes in Oakville, Richmond Hill and Markham sold for an average $150,000 higher than homes in the City of Toronto.
GTA Realtors(R) Release Condominium Market Figures
TREB reports 5,974 condo sales in the first quarter of 2016, up 21.2% over Q1 2015, with the number of condo sales increasing 21.1% over the same period last year. The average selling price is $393,589, up 8.1% from Q1 2015.

TREB Q1 2016 Sales Chart

TREB Q1 2016 Sales Chart

Agents should prepare for an influx of clients
Ever-climbing home prices are encouraging retirement age Canadians to sell their homes, according to a recent study by RE/MAX.

Fear of missing out provokes panic buying – study
The survey proponents strongly suggested a calmer and more measured approach on the consumers’ part, as panic buying might artificially inflate demand and prices, thus further placing homes out of the average household’s reach.

Upcoming Realty Point Seminars (info and to register link)

  • Saturday April 30, 2016 – Realty Point New Agent Orientation
    Call the office to register for this mandatory session for all new agents and brokers. For seminar information visit this page.
  • Saturday May 7, 2016 – SEO & Website Content
    This seminar is open to all registered real estate sales professionals in Ontario. More information and to register visit this page.

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