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Friday , 24 October 2014

Category Archives: Market News

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News with a focus on real estate, finance and the marketplace

No signs of bubble in Canada’s housing market: report

A just-released report on the new home market in Canada seeks to put to rest any worries that the market is either being overbuilt or overvalued. Ben Myers, SVP Market Research and Analytics at Fortress Real Developments, states categorically, “There is no bubble in the Canadian housing market.” Myers’ report, The Market Manuscript, looks at several major markets across Canada, including Toronto. Myers has also created a short video presentation to explain his position about the absence of a housing bubble. Defining a bubble as rapid increases in valuations of real property until they become unsustainable and then decline, he puts out a simple argument. Based on Statistics Canada’s New ... Read More »

New mortgage organization to assist investors

A new professional association for the mortgage industry has been formed, the non-profit Association of Mortgage Investment Professionals (AMIPROS). As the name suggests, the group’s aims are to assist and advise investors looking to place their money in mortgages. The group will bestow three designations based on completion of a core course in investor protection and two specializations. The two main specializations, which cover the main options open to investors, are private and syndicated mortgages, both of which have seen “dramatic growth” in Canada, AMIPROS says, since 2008 when the government began to make changes to mortgage lending practices. The head of the new organization, Joseph White, says that compared to ... Read More »

Condo sales, rentals booming in third quarter

Two new quarterly reports from the Toronto Real Estate Board highlight the continuing growth in Toronto’s condominium market. One report summarizes sales of existing condos over the key summer months, July through September. During that time, condo sales rose 12.9 per cent on a year-over-year basis: 5,954 condo transactions went through TREB’s MLS system in the third quarter. New listings of condos for sale were also up (4.5 per cent) compared to a year ago. TREB president Paul Etherington said that despite the record-high levels of new condo completions over the past two years, “we have not experienced a glut of inventory.” In other words, there have been enough buyers ... Read More »

Signs of “healthy and sustainable” housing market in moderating trends

Signs of sanity are showing up all over the country as both home sales and prices have slowed a little. The Canadian Real Estate Association (CREA) released its official statement on September sales activity across the country, and, with the usual exceptions, sales were down, albeit slightly, in many markets. The decline in sales from August to September was just 1.4 per cent, while the actual sales for the month were 10.6 per cent higher than a year ago, so this is not a dramatic development. However, it was the first monthly decline since January. Is it the beginning of a new trend, or a blip? According to CREA, it ... Read More »

2014 could be record year for real estate in GTA

Strong September sales in the Toronto resale housing market, particularly in the condo segment, have put the year 2014 on track to set a new record, if the current pace of sales continues. The Toronto Real Estate Board reports 8.051 transactions through the TorontoMLS system in September, an increase of 10.9 per cent over the previous September. So far this year, sales are 6.9 per cent higher than for the same period last year. To date, 73,465 homes have changed owners in the GTA. This strong sales growth has occurred in spite of a “persistent shortage” of listings in some market segments, said TREB president Paul Etherington, noting that housing ... Read More »

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