This Week in Real Estate: November 11th-17th.

This week in real estate:  The market is headed for a soft landing, housing prices to stabilize temporarily, and Danforth Ave’s newest condo project is officially underway.

 

Heading for ‘soft landing’: October home sales up by modest 0.9%


Home sales across Canada in October were up by a seasonally adjusted “modest” increase of 0.9 per cent from September, the Canadian Real Estate Association said Wednesday.

The real estate group said sales activity in October was up from the previous month in about half of all local markets, led by the Greater Toronto Area and the Fraser Valley, along with a number of markets in the Greater Golden Horseshoe region.

“This morning’s report corroborates the notion that the Canadian housing market continues to manoeuvre a soft landing,” said TD senior economist Michael Dolega.

Via CBC. Click for the full article.

Expect Toronto housing prices to stabilize in 2018 — but don’t expect them to stay that way.


The good news is that the combined effects of higher interest rates and new mortgage rules will see Toronto’s housing market balance out over the course of 2018. The bad news? A serious lack of land supply coupled with a rapidly increasing population means it won’t last.

At least, that’s what CIBC Senior Economist Benjamin Tal has predicted in his latest report, released today.

Via BuzzBuzzHome. Click for the full article.

Marlin Spring celebrates ground breaking for Canvas Condos.


With the early stages of construction already underway for Canvas Condos, the team behind the new mid-rise condo from Marlin Spring Developments gathered at the build site on Danforth Avenue in Toronto’s East End yesterday for an official ground breaking ceremony. The Graziani + Corazza Architects-designed building will soon rise between Woodbine and Main Street subway stations, adding 170 condominium units to the neighbourhood.

Via Urban TorontoClick for the full article.

 

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