Monday, July 10, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
The Greater Toronto Area (GTA) real estate market began 2023 as it ended 2022, with similar sales and average selling price numbers in January compared to December. Despite this, both sales and prices were down on a year-over-year basis, reflecting the impact of higher borrowing costs on affordability.
According to the Toronto Regional Real Estate Board (TRREB), there were 3,100 sales recorded in January 2023, which was in line with the December result but a 44.6% decrease from January 2022. The average selling price for January 2023 was $1,038,668, which was slightly lower than the December result and down 16.4% from the January 2022 average price.
TRREB President Paul Baron expressed confidence in the market, stating that the Bank of Canada‘s recent announcement of a hold on interest rate hikes, coupled with record population growth and a tight labor market, w. ...
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Monday, March 27, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
Canada continues to outperform its peers for population growth. Statistics Canada data shows record population growth in 2022. The increase was driven entirely by immigration, with most of it “temporary” labor. One of the country’s Big Six banks believes the boom is needed to help the country’s long-term labor market issues, but first, it’ll add to infrastructure stress and inflation.
Canada Hit A New Record For Population Growth
Canada’s population ripped higher—entirely due to immigration. Population estimates rose 0.7% (273.9k) to 39.6 million people. That puts the estimate 2.7% (1.1 million) higher in 2022. The country has never seen such a rapid increase in population.
Temporary Immigration Is Driving Canada’s Population Growth
Canada’s race to be the fastest-growing G7 country depends entirely on immigratio! ...
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Monday, March 13, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
As a client, you'll want a trusted resource for your real estate needs and goals. You want to have the insights and experience required to navigate changes in the market and better understand the ups and downs that naturally arise in the real estate sector.
Real estate agents - quality ones anyway - understand that a market cannot perform well perpetually. A natural rise and fall in prices always occurs. When you start to see signs of a market correction, you want to know how to prepare so you can make the best real estate decisions for your individual goals.
What is a “real estate market correction”?
A real estate market correction can generally be referenced when the value of homes falls 10–15% below the market average. When the value of homes starts shifting like this, it can cause changes in how buyers and sellers look at the market and how they. ...
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