Sales Commentary Record home sales continued in February with sales 52% higher than in 2020. The 10,970 sales are equal to the peak of a normal spring market. February also recorded 15,137 ‘new’ listings, but by month-end there were only 8,727 ‘active’ listings – under a one-month supply. The condo market also joined the party….
Read MoreThis year’s report focuses on how real estate is driving economic stability during the unprece-dented challenges of the COVID-19 pandemic. The real estate market has, and will, continue to be a major driver of recovery. On average, every MLS® System home sale results in over $68,000 of spin-off expenditure along with the associated jobs and…
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2020 YEAR IN REVIEW: 1 The impact of COVID-19. It created a tale of two markets – low rise versus condos. Low rise prices increased 15% and condo prices were flat down to 10%. It moved the Spring market from April to July. Sales on TRREB at 93,000 units matched the seven -year average. 2 The…
Read More“While the housing market as a whole recovered strongly in 2020, there was a dichotomy between the single-family market segments and the condominium apartment segment. The supply of single-family homes remained constrained resulting in strong competition between buyers and double-digit price increases. In contrast, growth in condo listings far-outstripped growth in sales. Increased choice for…
Read MoreOwning a home is a keystone of wealth… both financial affluence and emotional security.