It’s All Rainbows and Puppies

Sales prices are up 3.5% In October 2018. Sales activity up a healthy 6%. Active listings available for sale have dropped 2.7%.

What does this mean?

Well for starters, the real estate market is doing just fine, thank you very much.

That housing crash we’ve all been hearing and talking about, well Bloomberg thinks we’ve avoided it. For now at least. (see Bloomberg article here)

One sign that may support this in the GTA, is that housing sales over the past five months have outstripped new listings. This is good.

The condominium market continues to be very strong as price appreciation led all housing categories at 8.6%. Much stronger gains than we are seeing in the stock market of late.

Actually, all housing types are in the positive, across the entire GTA. The 905 region which had taken a beating early in the year was healthy in all categories.

So it looks like heading into the holidays as my good friend Henry Lee like’s to say,  it’s all rainbows and puppies regarding the housing market. Unless of course you are a renter, as most rental units (condos, houses and town homes) are in very high demand.

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