Interest rates may begin edging up later in 2013. They shouldn't threaten the housing market because income and employment will be climbing as well, creating
offsetting demand for housing. Similarly, the one-off impact of a tightening in mortgage rules during 2012 should not be cause for a serious setback.
Toronto home prices gain 7% in 2012 even as sales slip
Sales were down in all segments of the market, from detached and semi-detached homes, to townhouses and condos. But with the exception of condos - the average price of a condo in the Greater Toronto Area dipped almost 1% to $325,726 - prices were higher on average in 2012 than they were in 2011.
RBC says Canadian housing market is solid despite slow down to mortgage lending Royal Bank CEO Gord Nixon says a slowdown in the Canadian real estate market is affecting mortgage lending but the softness is not a crisis since he expects the country's housing market will remain solid.
Weak December strenghtens land transfer tax critics
TREB numbers point to a 19.5% slide in home sales for December compared to the year-ago period. That translates into a drop of 895 homes from the 4,585 trading hands in December 2011. Condo sales suffered a more-precipitous decline, falling 27.5%, although actually selling prices fell less than 1%.
RE/MAX forecasts 'moderate' 2013
Greater optimism is expected to return next year, as the economy marks further improvement. Canadians appear to be reigning in their spending, heeding cautionary statements by the country's financial leaders. We believe that will only serve to shore up the already healthy framework of the Canadian housing market in 2013.
Toronto real estate to flatline in 2013
While bidding wars and bully bids dominated the busy spring market in 2012, come summer realtors began to see "a disconnect" between buyers and sellers: Buyers have been holding off, anticipating a slump in prices, while sellers have dug in their heels, determined to wait and see if spring 2013 brings some heat back to the cooling market.