Genworth Canada, largest private mortgage insurance corporation, has done the study on Homeownership and Financial Fitness for Canadians.

Given the unusual economic and financial circumstances we’re in, this data provides a comprehensive look at Canadians view on homeownership and their own financial readiness.

The study takes into account both pre-COVID-19 and mid COVID-19 data and provides you with a balanced outlook on future homebuying trends.


For full report click on the link below:


https://genworthassetlibrary.s3.amazonaws.com/pdfs/HEW_Infographic_2020_EN_Print.pdf


 
 
 
 
 
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Hello, just wanted to share an update on mortgage rates, changes to CHMC application and what options are available to you to secure the right deal.

Your thoughts and comments are always welcome.

Stay healthy, stay safe, stay informed!

 
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I have listed a new property at .
Beautiful, Well Maintained (1887 Sq.Ft. As Per Builder) Townhome. Location In A Sought After, Friendly Neighbourhood Features Hardwood Floors (2019), Fully, Custom, Private Backyard Oasis With Access From The Kitchen. Larger Bedrooms (Builder Premium).
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May Real Estate stats for GTA released by TREB.
As we all know real estate was almost in a frozen state in the month of April and we have seen an improvement in May for the # of transactions as well as # of new listings. While it's still down compared to May 2019 it shows that Toronto's real estate market is resilient and overall selling prices were up 3% vs a year ago.


Please contact me to get the stats for YOUR neighbourhood.


Stay healthy, stay safe, stay informed


GTA REALTORS® Release May 2020 Stats

Toronto Regional Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,606 sales through TRREB’s MLS® System in May 2020. This result was down by 53.7 per cent compared to May 2019. While the number of sales was down substantially on a year-over-year basis due to the continued impact of COVID-19, the decline was less than the 67.1 per cent year-over-year decline reported for April 2020.

On a month-over-month basis, actual and seasonally adjusted May sales were up substantially compared to April. Actual May 2020 sales increased by 55.2 per cent compared to April 2020. After accounting for the regular seasonal increase that is experienced each year between April and May, seasonally adjusted sales were up by 53.2 per cent month-over-month.

The number of new listings entered into TRREB’s MLS® System in May was down by a similar annual rate to that of sales, dipping by 53.1 per cent to 9,104. On a month-over-month basis, actual new listings were up by 47.5 per cent.

The MLS® Home Price Index Composite Benchmark price was virtually unchanged in May 2020 compared to April 2020. On a year-over-year basis, the composite benchmark was up by 9.4 per cent. The average selling price for all home types combined was up by three per cent compared to May 2019 to $863,599. On a seasonally adjusted basis, the average selling price was up by 4.6 per cent month-over-month compared April 2020.

The difference in year-over-year growth between the MLS® HPI Composite Benchmark and the average selling price was related to the fact that home sales in the City of Toronto, particularly in the detached segment, were down by a greater annual rate than overall sales in the GTA. This resulted in a compositional impact on the overall average selling price.


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Wondering how the real estate market is doing? Check out this video that explains in detail the buyer's and sellers' intentions as well as the real estate outlook for the next 12-18 months.
Share you thoughts and comments, your opinion matters!



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TRREB RELEASES CONSUMER HOME BUYING & SELLING INTENTIONS SURVEY TORONTO, ONTARIO, May 20, 2020 – Toronto Regional Real Estate Board President Michael Collins announced that TRREB contracted Ipsos Public Affairs to provide up-to-date information on consumer sentiment related to the housing market and the specific impact of the COVID-19 pandemic. The Ipsos online survey captured home buying and selling intentions along with consumer opinions on preferred government policy directions related to the housing market. This release specifically covers the Ipsos survey conducted between April 24 and 27, 2020.1 Ipsos will be conducting another survey for TRREB at the end of May, after which TRREB will release more detailed comparative results. Summary results from the first survey wave are as follows: Home Buying Intentions • GTA-wide, 27 per cent of survey respondents said they were likely (very likely or somewhat likely) to purchase a home in the next 12 months. While buying intentions were down compared to spring 2019 (31 per cent likely), they remained relatively inline with the five-year trend, especially after taking into account survey credibility intervals. Home purchasing intentions were above the GTA average in the City of Toronto (34 per cent), for younger people aged 18 to 34 (45 per cent) and households with children (37 per cent). • Similar to previous surveys, the most common reason for not intending to purchase a home over the next 12 months was that they liked their current home (62 per cent). General affordability issues were also a common response. COVID-19-related issues influenced 16 per cent of respondents who indicated that they were unlikely to purchase a home. “While COVID-19 has temporarily impacted home sales and listings in the GTA, the Ipsos survey results that show home buying intentions have remained quite stable certainly suggest that many people will be looking to satisfy pent-up demand for ownership housing once recovery starts to take hold. As people gradually return to work, consumer confidence will improve, and a growing number of people will look to take advantage of very low borrowing costs to purchase a home. Home purchases will continue to be aided by the use of technology available to REALTORS®, including live-stream open houses,” said Mr. Collins. Home Selling Intentions • Existing homeowners were asked how likely they are to list their home for sale over the next 12 months. At 17 per cent, listing intentions of homeowners were down markedly compared to spring 2019, when 32 per cent of survey respondents said they were likely to list. • A very large proportion (80 per cent) of respondents who indicated that they were unlikely to list their home for sale simply liked the home in which they are currently living.2 COVID-19-related issues influenced 22 per cent of respondents who indicated they were unlikely to list. “The supply of listings was an issue before the onset of COVID-19, with market conditions tightening and price growth accelerating throughout the first quarter of 2020. The Ipsos survey results suggest that the supply of listings will continue to be an issue as the economy and housing market recovers. Policy makers have acknowledged that there is a lack of a diverse housing supply in the GTA. While the supply issue has understandably taken a back seat to COVID-related issues in the short term, it should once again be top-ofmind once recovery takes hold,” said Jason Mercer, TRREB’s Chief Market Analyst. 1 The Ipsos online survey was conducted among residents aged 18 years and older in the Greater Toronto Area (GTA). The sample consisted of 802 respondents. Online interviews were carried out from April 24 to 27, 2020. Data is weighted according to Statistics Canada census data by gender, age, and region to make certain that the data accurately reflects the actual distribution of adults living in the GTA. The accuracy of Ipsos online polls is measured using a credibility interval. In this case, the results are considered accurate to within -/+ 3.9 percentage points of what the results would have been had every adult resident in the GTA been polled. 2 Survey respondents could provide more than one reason for being unlikely to list their home for sale. Opinions on Housing Market-Related Public Policy • With consumers still concerned about affordability, the survey results also showed that public support for government assistance for home buyers hasn’t changed since the pre-COVID-19 period: o 82% support increased and more flexible access to Registered Retirement Savings Plans through the Home Buyers’ Plan; o 75% support relief from municipal and/or provincial land transfer taxes; o 73% support relief from municipal property taxes; o 71% support relaxation of federal mortgage insurance rules to allow home buyers the option of qualifying for a mortgage with smaller down payments; and o 65% support relaxation of the federal mortgage “stress test.” “Home ownership affordability is, and will continue to be, a top concern as the economy recovers from the impact of the COVID-19 pandemic. With this in mind, it is not surprising that there is public support for government assistance in this regard. There is a definite role for governments to play in addressing affordability concerns, but policy makers at all levels should proceed with caution and assess the impact of pent-up demand and the potential lack of listing inventory during the initial recovery period,” said TRREB CEO John DiMichele.


Please contact me to know the details on your specif neighbourhood and keep informed about real estate market


Thank you

Polina Besprozvanny

416 402 3255

pbesproz@gmail.com

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Although average rents in Canada were unchanged in April over March, rental prices for apartments and condo apartments listed on Rentals.ca were down 3.2% and 4.6% respectively month over month. Also, average monthly rents for all property types were down in April over March in some major cities including Toronto, Vancouver, Calgary and Ottawa. Read this article for additional detailed information.


Stay safe, stay connected, stay informed!


https://rentals.ca/national-rent-report?fbclid=IwAR2E8x31FaB6dYn7HHjHLtzKmJ_Bd8pPO3nVIJiLamxPxOvG3KO_tKFiD0s

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I have sold a property at .
Beautiful 3 Bedroom Home In Thornberry Woods. Well Designed Living Space. Large Eat In Ktichen With Walk Out To Good Size Yard. Open Concept Living/Dining Room. Seperate Family Room In Upper Area W/ High Ceilings And Oversized Window. Dark Hardwood Floors In Living/Dining Room, Family Room And Upper Halllway. Oak Staircase With Iron Pickets. Upgraded Kitchen With Tall Maple Cabinets. Main Floor Laundry. Extras:Double Front Entry, Good Size Lot, Excellent Location, Close To Shopping Plaza, Close To Park And Amenities. Incl: Fridge, Stove, B/I Dishwasher, Washer, Dryer, C.A.C., Garage Door Opener W/2 Remotes *
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I have sold a property at .
Gorgeous and spacious one bedroom plus den, $$$ in upgrades, one of the best layouts in the building, granite countertops in kitchen and washroom, upgraded laminate flooring throughout the unit. Beautiful view, walk to everything... shopping, restaurants, movie theatre, Hwy's and GO few minutes away from the building.
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I have sold a property at .
Beautiful 1 bedroom condo with one of the largest sq. footage. Extra spacious locker and 1 parking including. Great views, amazing amenities, walking distance to parks, mall, shopping and transportation. One of the prestigious buildings, quiet community.
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I have sold a property at .
Bright And Spacious Corner Unit With Unobstructed Panoramic Views Of The City. The Unit Offers 3 Bedrooms, 2 Full Bathrooms And Large Living Space For Family. Ensuite Laundry, Plenty Of Storage And Well Managed Building With All Great Amenities (Rec Room, Sauna. Gym And Plenty Of Visitor Parking). Superb Location - Steps To Ttc, Walking Distance To Community Centre, Schools, Parks, Shopping And Place Of Worship.On Site Car Wash For Residents. Extras:Fridge,Stove,Washer,Dryer, All Lighting Fixtures, Great Building Amenities(Under Renovation Now - Must Be Completed By End Of May). Maintenance Fee Include All Utilities(Even Cable With 1000 Channels). Unbeatable Location.
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I have sold a property at .
Amazing Luxurious Condo "The Royal At Bayview Glen" Superb Location. Close To Go/Viva/404/407. Large 2 bedroom, 2 washroom unit with Great Layout.1 Parking And 1 Locker Are Included. Minutes to Schools, Community Centre, shopping, parks, and HWY's,
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I have sold a property at .
Elegant Fernbrook Home On One Of The More Desirable Streeets In Thornhill Valley.Top Quality Finishes/Upgrades Include 9' Smooth Ceilings On All Levels,Gleaming Hardwood Flrs Thru Out,Crown Moulding In Living/Dining Areas.High End Maple Kitchen Cabinets,Oversized Island,Upgrd Granite C/Tops.Top-Of-The-Line S/S Appliances.Open Staircase W/Wrought Iron Pickets,Custom Closet Organizers,2nd Flr Laundry,Spa Like Ensuite W/Jacuzzi Tub,Glass Framless Shower,Dbl Sink Extras:Marble Vanity.Walking Distance To Longos Plaza,Lebovic Centre & Transportation.S/S Jennair Fridge & Stove,Bosh S/S Dw,Hood Fan,Front Load Washer/Dryer,All Elf's,Custom Window Drapes & Blinds,Cvac,Cac,Gdo & 2 Remotes,Alarm Sys,Custom
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I have sold a property at .
Spacious 1+1 Bedroom Unit * Open Concept * Living Room W/O To Balcony * Beautiful View On Green Treed Park And Playground * Parking And Locker Included * Convenient 3rd Floor With Amazing View! 9 Feet Ceilings * Tv Cable Included In Maintenance * Great Amenities: Pool, Sauna, Jacuzzi, Gym * Walking Distance To: Walmart, Promenade Mall , Best Schools And Restaurants * Quick Access To Hwy7 & 407.
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Here is the quick overview of the GTA real estate market for April 2020 including the rental market.

While the number of transactions significantly declined in all sectors, the prices for resale properties are still holding up, while the rental market has seen the decline in prices across GTA.

Reach out to me if you want to know what is happening in your neighbourhood because only facts and data should drive your decision not rumours and speculations.

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GTA REALTORS® Release April 2020 Stats


Greater Toronto Area REALTORS® reported 2,975 residential transactions through TRREB’s MLS® System. This result was down by 67 per cent compared to April 2019. Weekday sales remained within a relatively steady range during the month, averaging 130 per day.

New listings amounted to 6,174 in April 2020 – down on a year-over-year basis by a similar rate compared to sales (-64.1 per cent).


Home Prices:


The average selling price for April 2020 transactions was $821,392 – up by 0.1 per cent compared to the average price of $820,373 reported for April 2019. The semi-detached and townhouse market segments experienced annual average price growth above the rate of inflation. The condominium apartment and detached segments experienced year-over-year price declines on average.


The trend for the MLS® Home Price Index Composite Benchmark, which had been on an upward trajectory since the beginning of 2019 flattened in April. On a year-over-year basis, the Benchmark was up by 10 per cent.

The MLS® HPI indices represent prices for typical homes with consistent attributes from one period to the next. The fact that the MLS® HPI was up year-over-year by a greater rate than the average selling price suggests that the share of higher end deals completed in April 2020 versus April 2019 was down.


Please let me know if you would like the stats for your neighborhood and I will be happy to share them with you.


Thank you

Polina

416-402-3255

www.GtaRealEstateExpert.com

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Ontario is planning for the next phase of responding to the coronavirus (COVID‑19) outbreak – reopening our province.

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The province just released a 3-stage approach for gradual re-opening.

It will be done in a responsible and evidence informed way to ensure well being of its citizens.

Click on the official link to learn more

Stay safe, stay educated

https://www.ontario.ca/page/reopening-ontario-after-covid-19

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