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NEWS MARCH 2016
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  TORONTO, March 3, 2017 .
TREB reported 8,014 residential transactions. Despite the fact that February 2016 had one more day due to the leap year day This result was 5.7% higher than the sales reported in 2016. new listings entered into TREB's MLS® System in February were down on a year-­over-­year basis by 12.5 per cent to 9,834.

Average price by major home type.
  416 905
Detached $1,573,622 $1,106,201
Semi-Detached $1,085,484 $712,276
Townhouse $671,243 $653,584
Condo $515,424 $404,460
     
“The listing supply crunch we are experiencing in the GTA has undoubtedly led to the double-digit home price increases we are now experiencing on a sustained basis. Until we see a marked increase in the number of homes available for sale, expect very strong annual rates of price growth to continue,” said Jason Mercer, TREB’s Director of Market Analysis.
     
  Who Are Potential Buyers in GTA?

There has also been much speculation, both in the media and among government policymakers, about the amount of foreign buying activity in the GTA. In real life the number of transactions accounted for by foreign buyers was less than five per cent. The great majority – 80 per cent, to be exact – of foreign buyers were purchasing a home as a primary residence.
For the GTA as a whole, 53 per cent of likely buyers indicated that they would be first-timers – up from 49 per cent a year earlier. First--time buying intentions were highest in the City of Toronto, where 64 per cent of likely home purchasers indicated they would be first-­timers – up from 56 per cent a year earlier. The higher percentage of first-­time buyers in the City of Toronto likely relates to the prevalence of condominium apartments, which are a popular entry point into home ownership.
     
  Donald Trump and Bank of Canada's rate

The Bank of Canada wil not increase but hold its trend-setting interest rate at 0.5 per.

The bank has said some U.S. proposals under President Donald Trump , which include tax cuts, a border tax and protectionist policies, would have ``material consequences'' for Canadian investment and exports.

For inflation, the bank said it's looking past January's surprisingly robust headline figure of 2.1 per cent. It said the number was a result of a temporary jump caused by higher energy prices that were largely tied to the implementation of carbon-pricing policies in Ontario and Alberta.
 
  Alberta's economy improving

Alberta's economy is on the road to recovery and more money is coming in. "`A full economic recovery will take time after such a long downturn, but we are starting to see encouraging signs,'' Ceci said in a statement Thursday after releasing the third-quarter update for the 2016-17 budget year.

Provincial exports hit $8 billion last December, 47 per cent above the low point in April 2016.

Jobs have grown by 18,000 since cratering in July 2016.

The province reported 199 rigs drilling in January, the highest level in the last two years.
 
       
   
   

 

 

 

 

Konstantin Kichtchenko Sales Representative Right at Home Realty Inc., Brokerage 416-391-3232 1396 Don Mills Road B121, Toronto, Ontario, M3B 0A7