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The Toronto condo market is experiencing a significant decline amidst a broader housing crisis. From April to June, condo sales in the Greater Toronto and Hamilton Area dropped by 66% compared to the same period last year, reaching the lowest levels in decades, aside from the early pandemic months. High home prices are pushing many […]
Canada’s Growing Population Outpaces Job Market, Driving Unemployment Surge in Major Cities Canada’s job market is struggling to keep up with population growth, leading to a rise in unemployment, particularly in major real estate markets. In June, unemployment increased, with Toronto seeing the highest surge. Over the past year, 250,000 more people became unemployed, with […]
Sellers are flooding Canada’s housing market, significantly increasing inventories in major cities like Toronto, where active listings surged nearly 70% to a 14-year high. Despite a slight interest rate cut by the Bank of Canada, buyers have not returned in large numbers, giving more bargaining power to buyers and leading to continued price reductions from […]
Labour Market is ‘Gasping for Air,’ Economist Says John MacFarlane, Senior Reporter July 9, 2024 Canada’s job market struggled in June, showing a net loss of 1,400 jobs, which was below expectations. The unemployment rate rose to 6.4%, and a National Bank economist warns that it could exceed 7% if the Bank of Canada (BoC) […]
CTV News Toronto July 3, 2024 Summary: A recent survey by the Angus Reid Institute found that nearly 40% of Ontarians are considering leaving the province due to high housing costs. This percentage is the highest among Canadian provinces, followed by British Columbia (36%) and Nova Scotia (25%). Among Ontarians contemplating a move, 26% consider […]
Toronto’s rental construction saw significant progress in recent years, reaching levels not seen since the 1990s. However, the number of purpose-built rentals under construction began to decline in March and April 2024, dropping from 18,300 units in February to around 17,280 by April. This slowdown is attributed to tougher market conditions, including higher interest rates […]
HouseSigma Inc. Brokerage
1-888-524-7297