OREA In the News

Toronto Star: Toronto-area home prices saw year-over-year drop in February, as number of sales plunged 

A 12.4 per cent year-over-year drop in the average selling price of a Toronto-area resale home in February is not as bleak as it seems, says the Toronto Real Estate Board (TREB). Despite a decline of nearly $110,000 in the average price to $767,818, from $875,983 in February 2017, last month’s figure was still about 12 per cent more than homes were selling for in February 2016. Back then, the average price was $685,278. It was also higher than January’s average of $736,783. The average price encompasses all home categories, including detached, semi-detached, townhomes and condos. 

 

Canadian Real Estate Magazine: Buyers want homes, so do sales agents 

Real estate agents in Ottawa are desperate for more homes to sell as tight inventory dampened last month’s sales figures. “There is no doubt our sales numbers would have been much higher if we had more properties available for sale. Buyer demand is there, but our inventory in both residential-class and condos continues to decline. This is creating a supply side issue in the Ottawa real estate market,” concludes Ottawa Real Estate Board President, Ralph Shaw. 

 

National Post: High real estate prices are sparking a surge in unorthodox housing – and new ways to think about insuring a home 

Tiny homes are increasingly common, especially in urban areas where housing costs have skyrocketed, says Stefan Tirschler, CIP, product and underwriting manager, Square One Insurance Services Inc. “In the beginning, tiny homes were lived in by a small community of people experimenting with a new way of living,” he says. “Today, we’ve seen zoning changes across the country, and that’s resulted in a wide range of small dwellings on the market. This includes anything from miniature frame homes, portable frame homes on wheels, tiny homes built from shipping containers, laneway homes—even yurt-style homes.” 

 

Mortgage Broker News: Indebted Canadians are slowing down on their spending 

Canada’s economy decelerated more than expected in the second half of last year, amid signs indebted households have begun slowing down spending. Statistics Canada’s latest data release on Friday (March 2) showed that the economy grew at an annualized pace of 1.7% in the fourth quarter, versus economist expectations for 2% growth. Third-quarter gross domestic product growth was also revised down. 

 

Canadian Real Estate Magazine: These are the best Ontario cities for investors 

With several unusual circumstances affecting the economy and housing market, it’s more important than ever to have plenty of data when making home investment decisions. That’s the view of Don R. Campbell, senior analyst at the Real Estate Investment Network (REIN), which has been assessing market conditions for investors and developers for three decades. 

  

The Motley Fool: 3 Homeownership Costs That Caught Me Off Guard 

Owning a home has often been hailed as the American Dream, and while going that route has benefited me in certain regards -- namely, by helping me reduce my taxes -- it's also caused me a fair amount of financial stress over the years. Although I took on an appropriate amount of mortgage debt given my income level, I still came to find homeownership more expensive than anticipated. Here are just some of the costs that have thrown me for a loop over the past decade since buying my house. 


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Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988