Happy new year to one and all!
With the dawning of 2018, the Toronto real estate market seems to be stuck in first gear. With the introduction of new regulations to stem the tide of soaring housing markets in Toronto and Vancouver in the spring of 2017, both real estate sectors were stopped in their tracks. Although Vancouver has managed to rally, the Toronto housing market is still a relative seller’s market. December slide in sales was not as steep as in the previous five months, but nonetheless, it was not a great showing.
What does this mean for you? Well, if you were planning to buy a house this year, then you are in luck. The steady rise of Toronto housing prices has slowed down dramatically and in some areas fallen off slightly, so it can be seen as a buyer’s market. Conversely though, since sellers might not be able to get a higher asking price, they might be less likely to sell. If that happens and there is a shortage of inventory on the market, then housing prices will remain stable and not necessarily fall as most buyers would like.
Regardless of what the future holds in 2018 for the Toronto housing market, one thing is certain – we will be here to keep you on top of it all!
With the dawning of 2018, the Toronto real estate market seems to be stuck in first gear. With the introduction of new regulations to stem the tide of soaring housing markets in Toronto and Vancouver in the spring of 2017, both real estate sectors were stopped in their tracks. Although Vancouver has managed to rally, the Toronto housing market is still a relative seller’s market. December slide in sales was not as steep as in the previous five months, but nonetheless, it was not a great showing.
What does this mean for you? Well, if you were planning to buy a house this year, then you are in luck. The steady rise of Toronto housing prices has slowed down dramatically and in some areas fallen off slightly, so it can be seen as a buyer’s market. Conversely though, since sellers might not be able to get a higher asking price, they might be less likely to sell. If that happens and there is a shortage of inventory on the market, then housing prices will remain stable and not necessarily fall as most buyers would like.
Regardless of what the future holds in 2018 for the Toronto housing market, one thing is certain – we will be here to keep you on top of it all!
