With the brisk pace of sales over the last few months, it's hard to dismiss this fall's renewed heat as just a passing phase. National home sales activity as of November totaled approximately 639 transactions, already exceeding the annual record of 2020, according to the CREA.

Wishing everyone a very Merry Christmas and a wonderful Holiday Season

A "sudden influx" of investors in the housing market likely helped fuel rapid price growth in early 2021. The analyses find that many Canadians are buying homes as investment properties, and the importance of this phenomenon has grown. 

Statistics released by the Canadian Real Estate Association (CREA) show national home sales edged up slightly in November, holding onto all of the gains made in October.

HIGHLIGHTS

• National home sales rose 0.6% on a month-over-month basis in November.

• Actual (not seasonally adjusted) monthly activity edged down just 0.7% on a year-over-year basis.

Brokerages predict a 2o% increase in Canada's markets next year, particularly in small markets like Muskoka. Oakville is expected to remain the most expensive Real Estate market in Canada. It is also expected to leave an almost $300k gap between first and second place, which is York Region. 

After under-performing this year, Greater Vancouver and Toronto are forecast to see big gains next year. 
 

Residential Stats

The GTA's growing Real Estate market further intensified and set a November record in sales and avg prices reached an all-time high. The market's hot trend can be attributed to:

- Shortage of housing inventory 

- Low-interest rates

- Suitable mortgage terms

- Work From Home (WFH)

Slim pickings for homebuyers

As listings plunge and prices soar