New Trend in Toronto Housing Market 2024
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Understanding the Emerging Trends in the Toronto Housing Market: February Stats & Interest Rates | Market Insights
In this week's video, we delve deep into the recent releases from the Toronto Real Estate Board and the Bank of Canada. Join us as we uncover the emerging trend shaping today's real estate marketplace.
The Bank of Canada has maintained its key policy rate at 5% for the fifth consecutive time, signaling a continued focus on controlling inflation. While some may find this decision disappointing, it's not unexpected given the need for stability in the current economic climate.
Over the past two years, we've witnessed a shift in market sentiment towards certainty and stability. With interest rates remaining high, prospective buyers are opting for fixed-rate mortgage products over variable rates, prioritizing financial security over leveraging cheap borrowed money.
Our analysis reveals a fascinating trend in the housing market. Despite high interest rates, sales have increased by 18% compared to last year, with average prices seeing a modest 1% rise. However, a closer look at specific segments unveils intriguing insights.
In the 416 area, semi-detached and townhouses have surged in popularity, with prices rising by 9% and 8% respectively in just one month. This shift is mirrored in sales activity, which has nearly doubled for semi-detached properties compared to detached houses.
The appeal of semi-detached and townhouses lies in their affordability, offering a more accessible entry point into the market. As buyers adapt to high interest rates, they're opting for smaller, more affordable properties rather than waiting on the sidelines.
In the 905 area, detached houses have seen a significant price increase of 6%, driven by their affordability compared to the 416 area and a rebound from previous market dips. This demonstrates a growing interest in suburban properties as buyers seek value and opportunity.
Overall, our analysis underscores a fundamental shift in buyer behavior towards stability and affordability. While a potential rate cut could further stimulate the housing market, buyers are already adjusting their strategies to accommodate current economic conditions.
If you're seeking exclusive market insights and a deeper understanding of real estate trends, don't forget to subscribe and hit the bell for future updates! Like this video if you found the information valuable. Let's navigate the evolving real estate landscape together.
Пікірлер: 28
Thanks Condo Wong ! Always informative and great information ❤
Investors are still in denial about the fundamentals of the economy. They expect rares will soon be cut and believe the topline GDP numbers signal a strong economy. However, they dont. Credit card balences are maxed out, more credit is hard to come by for consumers, a ton of companies are about to beforced into refinancing their debs at far higher interest and the regional bank backstop program is out this month. There's also the fact that inflation ticks higher than expected every single time the markets believe a rate cut is around the corner and a rate cut would cause a surge in inflation. The fed sees this stuff, guys. The only wild card for us investors is to actively engage the market by trading, we always over complicate things when we speculate. It's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
@79JacquelineCampbell
4 ай бұрын
She's often interacts on Telegrams, using the user-name.
@79JacquelineCampbell
4 ай бұрын
@Lindawilburn
@Wesleygriffin1
4 ай бұрын
I appreciate the professionalism and dedication of the team behind Linda’s trade signal service.
@inderjitdil13
4 ай бұрын
Linda Wilburn strategy has normalized winning trades for me and it’s a huge milestone for me looking back to how it all started.
@0YinYang
4 ай бұрын
The same high-yield potential exists in both bullish and bearish situations; what matters is how information and technique are used. Not neglecting professional advice.
Thank you for that update:)
Thank you When you say townhouses, it includes freehold townhome or condo townhouses only?
Thank you for sharing!
Thank you ❤
no going over inventory?
I am living in Calgary. Would you analyze the real estate market in Calgary?
Also, prices are "still relatively low"? Hahahahaha
Hey Condowong , really nice video ! I was wondering if I could help you with Highly Engaging Thumbnail + Video Editing which will surely increase your CTR & AVD which will help your videos to reach to a wider audience ! Please Lmk what do you think ?
Detached and Semi's going to run way ahead of condos? Sad news for condo FTHBs like me.
Your advice is reasonable, but please be aware of the affordability crisis. I hope you and real estate professionals are making it clear to buyers that houses are places to live, whether by the owner or long term renters. The gold rush of real estate investment already seems to have begun ending. AirBnb, investors, and speculators will all be on the chopping block. It would be fair to advise them against approaching their house as an investment and to consider buying within their means as a place to raise a family. Just my opinion.
Save your money. Put everything into cash. Watch while the real estate prices fall.
Your thumbnail doesn't make sense, what is the buyer to do instead of what?
Rate Cyrus are not coming this year. Reality check.
Lmao buy nothing. Rates aren’t coming down at anytime soon
@TheSpyder699
4 ай бұрын
Rate have nothing to do with buying it's only your choices are reduced that's it the return on it is way better than renting keep renting buddy 👍 😉 5% is nothing for 500k C'mon do some math people are paying 20% nearly on car payment what a joke
@peej91
4 ай бұрын
@@TheSpyder699 rates are gonna go up if the housing markets not tamed. I’d rather rent at this point and have my investments grow minimum 5 percent at this point. How much debt is crazy.. your cost to borrow tacks onto the house.. your 500k condo ends up costing you 3 times with interest rates. The rate of appreciation is inflationary.. and cannot continue at this pace. Use your homes not for speculation but what it’s meant for. Good luck paying your mortgages. How long can you hold out
@jimmykatsimihas3090
4 ай бұрын
peej91 tennants pay for the mortgage, dont forget that..
@peej91
4 ай бұрын
@@jimmykatsimihas3090 Tenants can’t afford to pay then you have a problem. Oh and banks own your home not you. Borrowing as a form of investment is a slippery slope
I am living in Calgary. Would you analyze the real estate market in Calgary?