What’s new ?

August 17, 2008 - Housing demand in July still at 2006 level

Resale market activity has rebounded from the slump this winter, according to Will Dunning.  While sales are below the 2007record, recent activity is comparable to figures seen during 2004 to 2006 when sales averaged about 85,000 per year, Dunning points out:

"The increased resale supply is negatively affecting the new low-rise market and the outlook for house price"

New home sales improved somewhat in June. The recovery in June was centered in high rises - 2,092 actual sales equate to 21,300 seasonally adjusted. The year-to-date sales rate remains very robust at 17,200, his  Housing Market Digest report concludes.

July 11, 2008 - Housing demand on healthy level of 2006

Housing demand is now back at the healthy 2006 levels but increased resale supply is negatively affecting the new low-rise market and the outlook for house prices, according to Will Dunning:

"The volume of listings has increased sharply this year (currently about 15% above year ago levels), signaling a probable shift to an end-of-cycle psychology. In addition to reducing price pressure, increased resale supply is negatively affecting the new homes market."

In the latest edition of his Housing Market Digest, Dunning reports that resale market activity has rebounded from the slump this winter. While sales are below the 2007 record, recent activity is comparable to figures seen during 2004 to 2006. In June this year, 8,600 actual sales equated to 83,800 seasonally adjusted, slightly below May’s 86,900, his report says.

 

(Housing demand on healthy level of 2006 continued...)

June 7, 2008 - Market recovering from its winter lull

Resale market activity continues to recover from the lows seen in February and March, Will Dunning reports. May’s 9,411 sales equate to 86,900 seasonally-adjusted. At mid June, sales were 14% lower than a year ago.

Resale price growth remains moderate, with Dunning's estimate of the price trend up by 4.5% year-over-year. The average price of resale real estate was $398,148 in May. Here's what Dunning had to say:

"New homes activity in the GTA is a lot lower than it should be, given continued job creation and favourable interest rates. Consumers may be hesitating, in reaction to negative reports on the economic outlook for Canada (especially Ontario). As individuals assess (and act on) their own circumstances, we should see some improvements in the next few months."

Due to a bump for highrises, new home sales recovered in May from a very weak April. May’s 3,181 actual sales equate to 32,400 after seasonal-adjustment. This number remains far below total 2007 sales of about 45,000.

(Market recovering from its winter lull continued...)

Jill Stewart

Higher Price - Less stress.

My goal is to obtain the highest price for your property with the least amount of stress. I have a long track record of achieving this goal and the Royal LePage awards to show for it in recognition of my success.