Toronto Real Estate Board (TREB) Stats are in for November. And I must admit I am starting to sound like a broken record. Once again, the numbers continue to reveal the reasonable stability of most areas ….and the continuing struggles that certain pockets of our market are experiencing.
Page 1 of the monthly Market Watch looks like this…..
Never judge a book by its cover. All looks rosy. And as oft stated by me, the media jump on this single page of the report. Not that there is anything wrong with that! We live in a ‘sound-bite’ world and brief is good. And the reporting of prices being up sounds fantastic. It sells newspapers and looks amazing on social media feeds.
The expression goes that the devil is in the detail.
And so, to the second last page of the Market Watch we go…..
And here is the reality that a home seller and home buyer must focus on. Every area is unique. Interesting to note, the areas with the highest loss year over year were also the same areas with the biggest year over year growth in the early 2017 eye-popping price increases.
We are here for you to help you interpret the market and make the very best possible decision when it comes to buying a home, selling a home or investing in real estate.
On behalf of our team, I would like to wish you and your family all the very best for a safe and happy holiday season and a Merry Christmas. My hope and prayer for each of you is for an incredible 2019. For you personally… and for home prices in some areas to finally show signs of life!! Thanks for your time.