About Me

My photo
GTA, Ontario, Canada
A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Monday, September 18, 2017

Home sales edge back into growth as the GTA rebounds

There was a small increase in national home sales in August, reversing a four-month trend of decline, as the GTA rebounded.

The 1.3% rise reported by the Canadian Real Estate Association from July to August but means activity was still almost 14% below the peak in March. Actual activity (not seasonally adjusted) was nearly 10% below August 2016.

“Time will tell whether the monthly rise in August sales activity marks the beginning of a rebound, particularly in the Greater Golden Horseshoe region and other higher-priced urban centres,” said Gregory Klump, CREA’s Chief Economist. “The picture will become clearer once mortgages that were pre-approved prior to recent interest rate hikes expire.”

The growth for the GTA was the first since the Fair Housing Plan was announced but activity was 36% below the March peak and 32% below August 2016.

Outside the GTA sales were essentially flat.

New listings were down 3.9%, the third consecutive monthly decline, and there were 5 months of supply at current rate of sales.

Price appreciation slowed with the Aggregate Composite MLS HPI up 11.2% year-over-year in August largely due to softening prices in the Greater Golden Horseshoe.

Although benchmark price gains eased, they continued to outpace those of August 2016 in 12 of 13 markets tracked by CREA’s index including the GTA (14.3% year-over-year), Greater Vancouver (9.4%), Victoria (16%), Calgary (0.8%), Regina (5.6%), Ottawa (5.9%) and Greater Montreal (4.6%).

CREA’s outlook for sales in 2017 is a 5.3% decline nationally to 506,900 units with BC and Ontario down about 10% from the all-time records set in 2016.

Newfoundland & Labrador is set for an 8.1% decline in sales this year; Saskatchewan is expected to show a 4% decline.

Alberta (7.4%), Quebec (5.4%) and New Brunswick (5.7%) are also expected to record annual gains for 2017 while moderate gains are forecast for Manitoba and Nova Scotia with PEI unchanged.

MBN

We hope you are finding our Blog informative and enjoyable to read while keeping you up to date with the ever changing real estate market.

Please feel free to contact me via Direct/Text or e-mail at any time and my team will be pleased to assist you, family members and friends with all your real estate needs. Referrals are always welcome!

No comments:

Post a Comment