Welcome to 2013!
As this edition of SmartMoves hits the presses, we are watching all things economic and political that play a role in how the housing market will begin the New Year. The “Fiscal Cliff” discussions in the U.S. seem to be moving forward in a more non-partisan way than what was expected, which is good news all around. The U.S. housing market is showing some signs of growth and Canadian job growth is polling upwards for 2013, which is very good news.
The buzz word circling through housing market analysis is “Affordability”, or looking at the differences between home costs vs increases in wages over different periods of time. Nationally, affordability indexes have been on the rise, meaning that price increases have been larger than increases in wages. In the Toronto market, though, we’ve seen a slowing down in year over year price increases, from about 8% 2011-2012 to roughly 4% 2012-2013, and an increase in wages in many sectors. This puts us in good stead to see a balanced market this year, particularly outside of first time buyers.
In this edition of SmartMoves, we’ll look at market activity here in Canada as well as the U.S. We’ll chat about the Province of Ontario updating The Condominium Act, and we’ll also look at important wealth building fundamentals for the 65 and over crowd.
Lastly, don’t miss our Fourth Annual Family Day Skate Party! Call or email to let us know how many will be joining you and we’ll look forward to seeing you on the 18th of February!
As always, we welcome your feedback, good or bad. We’re here to help you decide what’s best for you and your real-estate goals….we hope you will think of us first when you or those you know are planning to buy or sell your next home, condo or investment property.
Click on the link below to view our Winter Newsletter.
