Forget about everything you’ve read and anecdotal evidence you’ve heard about the slowing of GTAs housing market. According to realtors everything is coming back to normal, as you are reading this.
According to reports, some realtors predict that the market in spring will resemble the one similar to 2013 or 2014.
Downtown agents are the ones who have a fabulous story to tell. According to them, multiple offers are the norm in desirable neighborhoods, especially so for great homes. Although, this isn’t to rule out any room for negotiations. Home owners are more reasonable when it comes to trying to accommodate negotiations in price, even if there are multiple offers.
Reports suggest even Durham Region’s real estate is upward bound and properties are selling briskly.
Despite the stress test and all the negativity, people are still going out and buying those homes.
Even if the volume of transactions remains relatively low in the Toronto area, demand is building. That is something realtors want to believe and want you to believe too.
It is true that homes in great locations especially close to major highways and public transit have buyers willing to pay for convenience over space, larger homes tucked away deep inside residential neighborhoods are moving more slowly. There are buyers out there, though a lot fewer of them and these buyers are not about to throw more money based on future appreciation. When it comes to that, all bets are off the table, at least for now. -CINEWS