It’s February, we’ve just had our biggest snowfall in 10 years, and at time of writing, a frigid -15 out there before the wind-chill is factored in. In short, it’s winter in Toronto. If you haven’t heard it from our Team yet, Happy New Year! If you have, we hope that the first month of 2019 has been good to you and your family. As a new real estate year unfolds, we’ve all received our first gift of the season: a mortgage rate drop. This is a welcome relief after two consecutive rate increases in the second half of 2018. Will this help free up some new inventory in the coming year, and give a boost to a Spring Market? Time will tell. After the number of new mortgage rules, rate hikes and government interference over the course of 2018, any positive moves are welcome
In this edition of SmartMoves, we’ll look at the Toronto market from a year in review perspective. We’ll also make some predictions about the year ahead and look at the impact of supply and demand planning on Toronto’s affordability issues. We’ll also get an inside look at the potential risks of new condo project purchases, and why it’s critical to work with Agents that understand the landscape.
